Lake Norman Real Estate Market Update August 2019

Lake Norman Real Estate Update August 2019

Lake Norman Homes

In August 2019 208 homes sold in the Lake Norman area,  a 4.8% increase from the 198 homes sold in July 2019. The August 2019 sales figures decreased 17.5% from August 2018  when 252 homes sold in the Lake Norman real estate market.

The average sales price increased by 4.8% from $534,567 in July to $560,099 in August 2019. The August 2019 average sales price increased 5.5% from the August 2018 average sales price which was $531,141.

Average days on the market increased by 3% from 67 days on the market in July to 69 days on the market in August 2019. The August 2018 average days on the market were 80, a 13.8% decrease in market time from last year.

Currently, there are 696 active homes for sale in the Lake Norman MLS area, down 9% from August. The average list price is $791,657 up 1.6% from the August average list price of $779,377. The average days on the market are 152.  There are 395 Lake Norman homes currently under contract, up 12.2% from August. Based on this data we are currently in a seller’s market, 3.3 months of inventory, in the Lake Norman single-family real estate market.

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Lake Norman Condos & Townhomes

In August 2019 54 condos/townhomes sold in the Lake Norman area, a 28.6% increase from the 42 condos or townhomes sold in July 2019. August 2019 sales figures increased 14.9% from August 2018 when 47 Lake Norman condos sold.

The average sales price increased by 3.6% from $268,126 in July to $277,715 in August 2019. The August 2019 average sales price increased 11.2% from the August 2018 average sales price which was $249,700.

Average days on the market increased by 12.8% from 47 in July to 53 in August 2019. The August 2018 average days on the market were 45, a 17.8% increase in market time from one year ago.

Currently, there are 79 active condo/townhome listings for sale in the Lake Norman MLS area, a 6.8% increase from the 74 active condos for sale in August. The average list price is $368,748, down 2.9% from August’s average list price of $379,806. The average days on the market are 89. There are 61 Lake Norman condos/townhomes currently under contract, a 7% increase from August. Based on this months data we are currently in seller’s market, only 1.5 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In August 2019 22 lots sold in the Lake Norman area, a 4.3% decrease from the 23 lots sold in July 2019. August 2019 sales figures increased 10% from August 2018 when 20 Lake Norman lots sold.

The average sales price increased by 101% from $144,830 in July to $290,705 in August 2019. The August 2019 average sales price increased 85.6% from the August 2018 average sales price which was $156,593.

Average days on the market increased by 67.3% from 107 in July to 179 in August 2019. The August 2018 average days on the market were 114, a 57% increase in market time versus the same time period last year.

Currently, there are 527 active lot listings for sale in the Lake Norman MLS area, a decrease of .8% from August. The average list price is $315,0643, up 3.9% from August’s average list price of $303,294. The average days on the market are 455. There are 81 Lake Norman area lots currently under contract, a 15.7% increase from August. Based on this data, 24 months of inventory, we are in a buyers market for Lake Norman lots & land.

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Lake Norman Real Estate Market Update July 2019

Lake Norman Real Estate Update July 2019

Lake Norman Homes

In July 2019 198 homes sold in the Lake Norman area,  a 14% decrease from the 230 homes sold in June 2019. The July 2019 sales figures decreased 8.8% from July 2018  when 217 homes sold in the Lake Norman real estate market.

The average sales price decreased by 11.6% from $604,809 in June to $534,567 in July 2019. The July 2019 average sales price increased 4.9% from the July 2018 average sales price which was $509,503.

Average days on the market decreased by 5.6% from 71 days on the market in June to 67 days on the market in July 2019. The July 2018 average days on the market were 71, a 5.6% decrease in market time from last year.

Currently, there are 765 active homes for sale in the Lake Norman MLS area, down 5% from July. The average list price is $779,377 down .4% from the July average list price of $782,200. The average days on the market are 144.  There are 352 Lake Norman homes currently under contract, up 3.8% from July. Based on this data we are currently in a seller’s market, 3.9 months of inventory, in the Lake Norman single-family real estate market.

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Lake Norman Condos & Townhomes

In July 2019 42 condos/townhomes sold in the Lake Norman area, a 13.5% increase from the 37 condos or townhomes sold in June 2019. July 2019 sales figures decreased 8.7% from July 2018 when 46 Lake Norman condos sold.

The average sales price increased by 2.8% from $260,819 in June to $268,126 in July 2019. The July 2019 average sales price increased .2% from the July 2018 average sales price which was $267,557.

Average days on the market decreased by 16.1% from 56 in June to 47 in July 2019. The July 2018 average days on the market were 25, an  88% increase in market time from one year ago.

Currently, there are 74 active condo/townhome listings for sale in the Lake Norman MLS area, a 10.8% decrease from the 83 active condos for sale in July. The average list price is $379,806, down 2.1% from July’s average list price of $387,944. The average days on the market are 96. There are 57 Lake Norman condos/townhomes currently under contract, a 6.6% decrease from July. Based on this months data we are currently in seller’s market, only 1.8 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In July 2019 23 lots sold in the Lake Norman area, a 43.8% decrease from the 16 lots sold in June 2019. July 2019 sales figures decreased 14.8% from July 2018 when 27 Lake Norman lots sold.

The average sales price decreased by 36% from $226,462 in June to $144,830 in July 2019. The July 2019 average sales price decreased 17.8% from the July 2018 average sales price which was $176,148.

Average days on the market decreased by 56.3% from 245 in June to 107 in July 2019. The July 2018 average days on the market were 215, a 50.2% decrease in market time versus the same time period last year.

Currently, there are 531 active lot listings for sale in the Lake Norman MLS area, a decrease of 2.4% from July. The average list price is $303,294, down 5.7% from July’s average list price of $321,610. The average days on the market are 454. There are 70 Lake Norman area lots currently under contract, a 1.4% decrease from July. Based on this data, 23.1 months of inventory, we are in a buyers market for Lake Norman lots & land.

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Lake Norman Real Estate Market Update June 2019

Lake Norman Real Estate Update June 2019

Lake Norman Homes

In June 2019 230 homes sold in the Lake Norman area,  a 5.3% decrease from the 243 homes sold in May 2019. The June 2019 sales figures decreased 12.9% from June 2018  when 264 homes sold in the Lake Norman real estate market.

The average sales price increased by 15.8% from $522,388 in May to $604,809 in June 2019. The June 2019 average sales price increased 12% from the June 2018 average sales price which was $540,025.

Average days on the market decreased by 1.4% from 72 days on the market in May to 71 days on the market in June 2019. The June 2018 average days on the market were 71, a 0% increase in market time from last year.

Currently, there are 805 active homes for sale in the Lake Norman MLS area, up 3.9% from June. The average list price is $782,200 down 2.4% from the June average list price of $801,362. The average days on the market are 141.  There are 339 Lake Norman homes currently under contract, down 11.3% from June. Based on this data we are currently in a seller’s market, 3.5 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In June 2019 37 condos/townhomes sold in the Lake Norman area, a 42.3% increase from the 26 condos or townhomes sold in May 2019. June 2019 sales figures decreased 0% from June 2018 when 37 Lake Norman condos sold.

The average sales price increased by 3.1% from $252,906 in May to $260,819 in June 2019. The June 2019 average sales price increased 20.3% from the June 2018 average sales price which was $216,871.

Average days on the market increased by 40% from 40 in May to 56 in June 2019. The June 2018 average days on the market were 22, a  155% increase in market time from one year ago.

Currently, there are 83 active condo/townhome listings for sale in the Lake Norman MLS area, an 11.7% decrease from the 94 active condos for sale in June. The average list price is $387,944, down 1.1% from June’s average list price of $392,279. The average days on the market are 89. There are 61 Lake Norman condos/townhomes currently under contract, a 7% increase from June. Based on this months data we are currently in seller’s market, only 2.2 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In June 2019 16 lots sold in the Lake Norman area, a 38.5% decrease from the 26 lots sold in May 2019. June 2019 sales figures decreased 42.9% from June 2018 when 28 Lake Norman lots sold.

The average sales price increased by 40.6% from $161,040 in May to $226,462 in June 2019. The June 2019 average sales price increased 63.3% from the June 2018 average sales price which was $138,657.

Average days on the market increased by 19.5% from 205 in May to 245 in June 2019. The June 2018 average days on the market were 227, a 7.9% increase in market time versus the same time period last year.

Currently, there are 544 active lot listings for sale in the Lake Norman MLS area, a decrease of 2.2% from June. The average list price is $321,610, up 5.7% from June’s average list price of $304,208. The average days on the market are 443. There are 71 Lake Norman area lots currently under contract, a 6% increase from June. Based on this data, 34 months of inventory, we are in a buyers market for Lake Norman lots & land.

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Lake Norman Real Estate Market Update May 2019

Lake Norman Real Estate Update May 2019

Lake Norman Homes

In May 2019 242 homes sold in the Lake Norman area,  a 27.4% increase from the 190 homes sold in April 2019. The May 2019 sales figures increased 10.5% from May 2018  when 219 homes sold in the Lake Norman real estate market.

The average sales price decreased by 7.6% from $565,870 in April to $522,853 in May 2019. The May 2019 average sales price decreased 4.8% from the May 2018 average sales price which was $549,058.

Average days on the market decreased by 0% from 72 days on the market in April to 72 days on the market in May 2019. The May 2018 average days on the market were 69, a 4.3% increase in market time from last year.

Currently, there are 775 active homes for sale in the Lake Norman MLS area, up .1% from May. The average list price is $801,362 down 1.2% from the May average list price of $811,386. The average days on the market are 140.  There are 382 Lake Norman homes currently under contract, down 9.7% from May. Based on this data we are currently in a seller’s market, 3.2 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In May 2019 26 condos/townhomes sold in the Lake Norman area, a 27.8% decrease from the 36 condos or townhomes sold in April 2019. May 2019 sales figures decreased 16.1% from May 2018 when 31 Lake Norman condos sold.

The average sales price decreased by 4.4% from $264,580 in April to $252,906 in May 2019. The May 2019 average sales price increased 11.4% from the May 2018 average sales price which was $226,931.

Average days on the market decreased by 29.8% from 57 in April to 40 in May 2019. The May 2018 average days on the market were 25, a  60% increase in market time from one year ago.

Currently, there are 94 active condo/townhome listings for sale in the Lake Norman MLS area, a 5.6% increase from the 89 active condos for sale in May. The average list price is $392,279, up 28.9% from May’s average list price of $304,400. The average days on the market are 84. There are 57 Lake Norman condos/townhomes currently under contract, a 28.9% increase from May. Based on this months data we are currently in seller’s market, only 3.6 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In May 2019 26 lots sold in the Lake Norman area, a 23.8% increase from the 21 lots sold in April 2019. May 2019 sales figures increased 36.8% from May 2018 when 19 Lake Norman lots sold.

The average sales price decreased by 4.1% from $167,876 in April to $161,040 in May 2019. The May 2019 average sales price increased 48.4% from the May 2018 average sales price which was $108,517.

Average days on the market increased by 32.3% from 155 in April to 205 in May 2019. The May 2018 average days on the market were 273, a 25% decrease in market time versus the same time period last year.

Currently, there are 556 active lot listings for sale in the Lake Norman MLS area, an increase of 1.1% from May. The average list price is $304,208, up 2.6% from May’s average list price of $296,583. The average days on the market are 422. There are 67 Lake Norman area lots currently under contract, an 11.7% increase from May. Based on this data, 6 months of inventory, we are in a balanced market for Lake Norman lots & land.

Stay up to date on the Lake Norman real estate market with our FREE market updates: LakeNormanHomePrices.com