Lake Norman Waterfront Real Estate Update April 2019
Lake Norman Waterfront Homes
In April 2019 39 waterfront homes sold in the Lake Norman area, a 95% increase from the 20 Lake Norman waterfront homes sold in March 2019. April 2019 Lake Norman waterfront home sales figures decreased 13.3% from April 2018 when 45 Lake Norman waterfront homes sold.
The average sales price increased by 34.8% from $832,913 in March to $1,122,648 in April 2019. The April 2019 average sales price decreased 4.9% from the April 2018 average sales price which was $1,180,370.
Average days on the market decreased from 146 in March to 98 in April 2019, a 32.9% decrease in market time. The April 2018 average days on the market were 109, a 10.1% decrease in market time from one year ago.
Currently, there are 291 active Lake Norman waterfront homes listed in the MLS, up 6.2% from April. There are 91 Lake Norman waterfront homes under contract, up 2.2% from April. The average list price of active listings is $1,303,852 up .6% from April’s average list price of $1,296,111. The lowest priced active Lake Norman waterfront home is listed at $145,000 and the highest priced Lake Norman waterfront home is listed at $6,995,000. Based on this data, 2.7 months of inventory, we are currently in a seller’s market for Lake Norman waterfront homes.
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Lake Norman Waterfront Condos & Townhomes
In April 2019 8 waterfront condos or townhomes sold in the Lake Norman area, a 42.9% decrease from the 14 Lake Norman waterfront condos sold in March 2019. April 2019 sales figures decreased 20% from April 2018 when 10 Lake Norman waterfront condos sold.
The average sales price increased by 41.1% from $265,536 in March to $374,750 in April 2019. The April 2019 average sales price increased 2% from the April 2018 average sales price which was $367,250.
Average days on the market increased by 81.8% from 55 in March to 100 days on the market in April 2019. The April 2018 average days on the market were 44 a 127% increase in market time from one year ago.
Currently there are 38 active Lake Norman waterfront condos listed in the MLS, a 0% increase in active inventory from April. There are 14 Lake Norman waterfront condos under contract, up 40% from April. The average list price of active listings is $338,584, up 1.9% from last months average list price of $332,208. The lowest priced active Lake Norman waterfront condo is listed at $192,000 and the highest priced active Lake Norman waterfront condo is listed at $1,025,000. Based on this data, 2.7 months of inventory, we are currently in a seller’s market for Lake Norman waterfront condos.
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Lake Norman Waterfront Lots
In April 2019 8 waterfront lots sold in the Lake Norman area, a 60% increase from the 5 Lake Norman waterfront lots sold in March 2019. April 2019 sales figures increased 14.3% from April 2018 when 7 Lake Norman waterfront lots sold.
The average sales price in April 2019 was $305,688, down 5.4% from the March 2019 average sales price which was $323,000. The April 2019 average sales price decreased 5.1% from the April 2018 average sales price of $321,957.
The average days on the market increased by 158% from 40 days in March to 103 days on the market in April 2019. Days on the market were down 62.7% from April 2018 when the average was 276 days on the market.
Currently, there are 223 active Lake Norman waterfront lots listed in the MLS, up 3.7% from April. There are 19 Lake Norman waterfront lots under contract, down 0% from April. The average list price is $474,607, up 6.6% from last month. The lowest priced Lake Norman waterfront lot is listed at $50.000 and the highest priced Lake Norman waterfront lot is listed at $2,950,000. Based on this data, 9.3 months of inventory, we are currently in a balanced market for Lake Norman waterfront lots.
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