Lake Norman Real Estate Market Update August 2018

Lake Norman Real Estate Update August 2018

Lake Norman Homes

In August 2018 251 homes sold in the Lake Norman area,  an 18.4% increase from the 212 homes sold in July 2018. The August 2018 sales figures increased 17.3% from August 2017 when 214 homes sold in the Lake Norman real estate market.

The average sales price increased 3.7% from $513,154 in July to $532,102 in August,. The August 2018 average sales price increased .8% from the August 2017 average sales price which was $527,849

Average days on the market increased 12.7% from 71 days on the market in July to 80 days on the market in August. The August 2017 average days on the market were also 80, a 0% decrease in market time from last year.

Currently there are 821 active homes for sale in the Lake Norman MLS area, up 1.1% from August. The average list price is $761,033 down 3.6% from the August average list price of $789,802. The average days on the market are 145.  312 Lake Norman homes are currently under contract, down 9.3% from August. Based on this data we are currently in a sellers market, 3.3 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In August 2018 47 condos/townhomes sold in the Lake Norman area, a 2.2 increase from the 46 condos or townhomes sold in July 2018. August 2018 sales figures increased 46.9% from August 2017 when 32 Lake Norman condos sold.

The average sales price decreased 6.7% from $267,557 in July to $249,700 in August. The August 2018 average sales price increased 14.1% from the August 2017 average sales price which was $218,916

Average days on the market increased 80% from 25 in July to 45 in August. The August 2017 average days on the market were 38, an 18.4% increase in market time from one year ago.

Currently there are 67 active condo/townhome listings for sale in the Lake Norman MLS area, a 7% decrease from the 72 active condos for sale in August. The average list price is $386,761, up 1% from August’s average list price of $382,749. The average days on the market are 100. 63 Lake Norman condos/townhomes are currently under contract, a 6% decrease from August. Based on this months data we are currently in a sellers market, only 1.4 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In August 2018 20 lots sold in the Lake Norman area, a 26% decrease from the 27 lots sold in July 2018. August 2018 sales figures decreased 42.9% from August 2017 when 35 Lake Norman lots sold.

The average sales price decreased 11.1% from $176,148 in July to $156,593 in August. The August 2018 average sales price increased 3.7% from the August 2017 average sales price which was $150,937.

Average days on the market decreased 47% from 215 in July to 114 in August. The August 2017 average days on the market were 174, a 34.5% decrease 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 4.6% from August. The average list price is $280,187, down 1.9% from August’s average list price of $285,655. The average days on the market are 512. 77 Lake Norman area lots are currently under contract, a 16.7% increase from August. Based on this data, 27.2 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 2018

Lake Norman Real Estate Update July 2018

Lake Norman Homes

In July 2018 210 homes sold in the Lake Norman area,  a 19.8% decrease from the 262 homes sold in June 2018. The July 2018 sales figures increased 8.2% from July 2017 when 194 homes sold in the Lake Norman real estate market.

The average sales price decreased 5% from $540,254 in June to $513,774 in July,. The July 2018 average sales price decreased 2.4% from the July 2017 average sales price which was $526,423

Average days on the market increased 1.4% from 71 days on the market in June to 72 days on the market in July. The July 2017 average days on the market were 75, a 4% decrease in market time from last year.

Currently there are 812 active homes for sale in the Lake Norman MLS area, down 6.1% from July. The average list price is $789,802 up 4.9% from the June average list price of $752,855. The average days on the market are 148.  344 Lake Norman homes are currently under contract, down 12% from July. Based on this data we are currently in a sellers market, 3.9 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In July 2018 46 condos/townhomes sold in the Lake Norman area, a 24.3% increase from the 37 condos or townhomes sold in June 2018. July 2018 sales figures increased 9.5% from July 2017 when 42 Lake Norman condos sold.

The average sales price increased 23.4% from $216,871 in June to $267,557 in July. The July 2018 average sales price increased 11.4% from the July 2017 average sales price which was $240,202

Average days on the market increased 13.6% from 22 in June to 25 in July. The July 2017 average days on the market were 58, a 57% decrease in market time from one year ago.

Currently there are 72 active condo/townhome listings for sale in the Lake Norman MLS area, an 8.9% decrease from the 79 active condos for sale in July. The average list price is $382,749, up 1.6% from July’s average list price of $376,857. The average days on the market are 89. 67 Lake Norman condos/townhomes are currently under contract, a 5.6% decrease from July. Based on this months data we are currently in a sellers market, only 1.6 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In July 2018 26 lots sold in the Lake Norman area, a 5.6% decrease from the 28 lots sold in June 2018. July 2018 sales figures decreased 0% from July 2017 when 26 Lake Norman lots sold.

The average sales price increased 31.1% from $138,657 in June to $181,712 in July. The July 2018 average sales price decreased 32.8% from the July 2017 average sales price which was $270,542.

Average days on the market decreased 7% from 227 in June to 211 in July. The July 2017 average days on the market were 179, a 17.9% increase in market time versus the same time period last year.

Currently there are 570 active lot listings for sale in the Lake Norman MLS area, an increase of .7% from July. The average list price is $285,655, down 3.7% from July’s average list price of $296,712. The average days on the market are 494. 66 Lake Norman area lots are currently under contract, a 1.5% increase from July. Based on this data, 21.9 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 2018

Lake Norman Real Estate Update June 2018

Lake Norman Homes

In June 2018 259 homes sold in the Lake Norman area,  a 18.8% increase from the 218 homes sold in May 2018. The June 2018 sales figures increased 9.7% from June 2017 when 236 homes sold in the Lake Norman real estate market.

The average sales price decreased 1.6% from $549,931 in May to $541,080 in June,. The June 2018 average sales price increased 12.2% from the June 2017 average sales price which was $482,218

Average days on the market increased .1% from 70 days on the market in May to 71 days on the market in June. The June 2017 average days on the market were 71, a 0% decrease in market time from last year.

Currently there are 865 active homes for sale in the Lake Norman MLS area, down 4.4% from June. The average list price is $752,855 up .4% from the June average list price of $750,200. The average days on the market are 151. 391 Lake Norman homes are currently under contract, up .5% from June. Based on this data we are currently in a sellers market, 3.3 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In June 2018 36 condos/townhomes sold in the Lake Norman area, a 16% increase from the 31 condos or townhomes sold in May 2018. June 2018 sales figures increased 2.9% from June 2017 when 35 Lake Norman condos sold.

The average sales price decreased 4.8% from $226,931 in May to $216,092 in June. The June 2018 average sales price decreased 7.7% from the June 2017 average sales price which was $234,100

Average days on the market decreased 8% from 25 in April to 23 in May. The May 2017 average days on the market were 43, a 46.5% decrease in market time from one year ago.

Currently there are 79 active condo/townhome listings for sale in the Lake Norman MLS area, a 4% increase from the 76 active condos for sale in June. The average list price is $376,857, down 3.2% from June’s average list price of $389,247. The average days on the market are 73. 71 Lake Norman condos/townhomes are currently under contract, a 1.4% increase from June. Based on this months data we are currently in a sellers market, only 2.2 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In June 2018 28 lots sold in the Lake Norman area, a 47% increase from the 19 lots sold in May 2018. June 2018 sales figures decreased 20% from June 2017 when 35 Lake Norman lots sold.

The average sales price increased 27.8% from $108,517 in May to $138,657 in June. The June 2018 average sales price decreased 36% from the June 2017 average sales price which was $216,606.

Average days on the market decreased 17% from 273 in May to 227 in June. The June 2017 average days on the market were 141, a 61% increase in market time versus the same time period last year.

Currently there are 566 active lot listings for sale in the Lake Norman MLS area, a decrease of 3.6% from June. The average list price is $296,212, down ..2% from June’s average list price of $296,791. The average days on the market are 492. 65 Lake Norman area lots are currently under contract, a 8.5% decrease from June. Based on this data, 20.2 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 2018

Lake Norman Real Estate Update May 2018

Lake Norman Homes

In May 2018 216 homes sold in the Lake Norman area,  a 23% increase from the 175 homes sold in April 2018. The May 2018 sales figures increased 3.8% from May 2017 when 208 homes sold in the Lake Norman real estate market.

The average sales price decreased  6.1% from $586,585 in April to $550,593 in May,. The May 2018 average sales price increased 8.8% from the May 2017 average sales price which was $506,257

Average days on the market decreased 9.1% from 77 days on the market in April to 70 days on the market in May. The May 2017 average days on the market were 79, an 11.4% decrease in market time from last year.

Currently there are 905 active homes for sale in the Lake Norman MLS area, up 6% from May. The average list price is $750,200 down 2.3% from the May average list price of $767,948. The average days on the market are 144. 389 Lake Norman homes are currently under contract, down 11.6% from May. Based on this data we are currently in a sellers market, 4.2 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In May 2018 31 condos/townhomes sold in the Lake Norman area, a 41% increase from the 22 condos or townhomes sold in April 2018. May 2018 sales figures decreased 14% from May 2017 when 36 Lake Norman condos sold.

The average sales price decreased 19% from $279,788 in April to $226,931 in May. The May 2018 average sales price decreased .5% from the May 2017 average sales price which was $228,130.

Average days on the market decreased 38% from 40 in April to 25 in May. The May 2017 average days on the market were 54, a 54% decrease in market time from one year ago.

Currently there are 76 active condo/townhome listings for sale in the Lake Norman MLS area, a 15% increase from the 66 active condos for sale in May. The average list price is $389,247, up 5.8% from May’s average list price of $367,778. The average days on the market are 65. 70 Lake Norman condos/townhomes are currently under contract, a 15% increase from May. Based on this months data we are currently in a sellers market, only 2.5 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In May 2018 17 lots sold in the Lake Norman area, a 54% decrease from the 37 lots sold in April 2018. May 2018 sales figures decreased 26% from May 2017 when 23 Lake Norman lots sold.

The average sales price decreased 7% from $121,321 in April to $112,781 in May. The May 2018 average sales price decreased 42% from the May 2017 average sales price which was $195,017.

Average days on the market decreased .7% from 294 in April to 292 in May. The May 2017 average days on the market were 224, a 30% increase in market time versus the same time period last year.

Currently there are 587 active lot listings for sale in the Lake Norman MLS area, an increase of .9% from May. The average list price is $296,791, down .6% from May’s average list price of $298.674. The average days on the market are 494. 71 Lake Norman area lots are currently under contract, a 1.4% increase from May. Based on this data, 34.5 months of inventory, we are in a buyers market for Lake Norman lots & land.

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