Lake Norman Waterfront Real Estate Update February 2019
Lake Norman Waterfront Homes
In February 2019 27 waterfront homes sold in the Lake Norman area, a 6.9% decrease from the 29 Lake Norman waterfront homes sold in January 2019. February 2019 Lake Norman waterfront home sales figures increased 3.8% from February 2018 when 26 Lake Norman waterfront homes sold.
The average sales price increased by 10.2% from $808,186 in January to $890,833 in February 2019. The February 2019 average sales price decreased 11.1% from the February 2018 average sales price which was $1,002,250.
Average days on the market increased from 119 in January to 115 in February 2019, a 3.4% decrease in market time. The February 2018 average days on the market were 145, a 20.7% decrease in market time from one year ago.
Currently there are 252 active Lake Norman waterfront homes listed in the MLS, up 8.6% from February. There are 66 Lake Norman waterfront homes under contract, up 32% from February. The average list price of active listings is $1,313,951 down 1.3% from February’s average list price of $1,331,714. 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 February 2019 7 waterfront condos or townhomes sold in the Lake Norman area, a 133% increase from the 3 Lake Norman waterfront condos sold in January 2019. February 2019 sales figures increased 75% from February 2018 when 4 Lake Norman waterfront condos sold.
The average sales price decreased by 8.8% from $345,333 in January to $314,857 in February 2019. The February 2019 average sales price increased 34.8% from the February 2018 average sales price which was $233,500.
Average days on the market increased by 141% from 29 in January to 70 days on the market in February 2019. The February 2018 average days on the market were 17 an 312% increase in market time from one year ago.
Currently there are 36 active Lake Norman waterfront condos listed in the MLS, a 24% increase in active inventory from February. There are 8 Lake Norman waterfront condos under contract, down 47% from February. The average list price of active listings is $319,489, down 15% from last months average list price of $376,066. The lowest priced active Lake Norman waterfront condo is listed at $194,000 and the highest priced active Lake Norman waterfront condo is listed at $1,040,000. 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 February 2019 4 waterfront lots sold in the Lake Norman area, a 60% decrease from the 10 Lake Norman waterfront lots sold in January 2019. February 2019 sales figures decreased 42.9% from February 2018 when 7 Lake Norman waterfront lots sold.
The average sales price in February 2019 was $601,125, down 1% from the January 2019 average sales price which was $607,350. The February 2019 average sales price increased 157% from the February 2018 average sales price of $233,929.
The average days on the market decreased by 43.8% from 226 days in January to 127days on the market in February 2019. Days on the market were up 42.7% from February 2018 when the average was 89 days on the market.
Currently there are 208 active Lake Norman waterfront lots listed in the MLS, up 17.5% from February. There are 22 Lake Norman waterfront lots under contract, up 4.8% from February. The average list price is $443,062, down 1% 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, 8 months of inventory, we are currently in a balanced market for Lake Norman waterfront lots.
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