Lake Norman Real Estate Trends Archives

Lake Norman Real Estate Market Update August 2019

Posted on September 27, 2019September 27, 2019 by Mike

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.

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

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.

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

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.

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

Lake Norman Real Estate Market Update July 2019

Posted on August 29, 2019 by Mike

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.

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

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.

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

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.

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

Lake Norman Real Estate Market Update June 2019

Posted on July 24, 2019 by Mike

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.

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

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.

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

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.

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

Lake Norman Real Estate Market Update May 2019

Posted on June 27, 2019 by Mike

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.

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

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.

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

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