Tag: Lake Norman Real Estate Trends

Lake Norman Real Estate Market Update December 2017

Lake Norman Homes
In December 2017 172 homes sold in the Lake Norman area,  a 16.2% increase from the 148 homes sold in November. The December 2017 sales figures increased 27.4% from December 2016 when 135 homes sold in the Lake Norman real estate market.

The average sales price decreased 10.2% from $539,080 in November to $483,932 in December. The December 2017 average sales price decreased 3.8% from the December 2016 average sales price which was $503,091.

Average days on the market increased 12.5% from 80 days on the market in November to 90 days on the market in December. The December 2016 average days on the market were 94, a 4.3% decrease in market time from last year.

Currently there are 725 active homes for sale in the Lake Norman MLS area, down 5% from December. The average list price is $754,639 up 2.7% from the December average list price of $734,748. The average days on the market are 193. 250 Lake Norman homes are currently under contract, up 2% from December. Based on this data we are currently in a sellers  market, 4.2 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 December 2017 32 condos/townhomes sold in the Lake Norman area, a 3% decrease from the 33 condos or townhomes sold in November 2017. December 2017 sales figures increased 28% from December 2016 when 25 Lake Norman condos sold.

The average sales price increased 3% from $223,304 in November to $229,978 in December. The December 2017 average sales price increased 18% from the December 2016 average sales price which was $194,902.

Average days on the market increased 0% from 31 in November to 31 in December. The December 2016 average days on the market were 49, a 36.7% decrease in market time.

Currently there are 27 active condo/townhome listings for sale in the Lake Norman MLS area, a 10% decrease from the 30 active condos for sale in December. The average list price is $328,368, up 1.8% from December’s average list price of $322,710. The average days on the market are 76. 34 Lake Norman condos/townhomes are currently under contract, a 12.8% decrease from December. Based on this months data we are currently in a sellers market, only .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 Lots
In December 2017 16 lots sold in the Lake Norman area, a 23.8% decrease from the 21 lots sold in November 2017. December 2017 sales figures decreased 42.9% from December 2016 when 28 Lake Norman lots sold.

The average sales price increased 11.5% from $166,376 in November to $185,556 in December. The December 2017 average sales price decreased 49.1% from the December 2016 average sales price which was $364,832.

Average days on the market decreased 19.2% from 198 in November to 160 in December. The December 2016 average days on the market were 215, a 25.6% decrease in market time versus the same time period last year.

Currently there are 650 active lot listings for sale in the Lake Norman MLS area, an increase of 8.2% from December. The average list price is $257,977, down 7.8% from December’s average list price of $279,925. The average days on the market are 510. 58 Lake Norman area lots are currently under contract, a 1.7% decrease from December. Based on this data, 40.6 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 November 2017

Lake Norman Homes
In November 2017 147 homes sold in the Lake Norman area,  a 15% decrease from the 173 homes sold in October. The November 2017 sales figures increased 10.5% from November 2016 when 133 homes sold in the Lake Norman real estate market.

The average sales price decreased 1.7% from $548,640 in October to $539,298 in November. The November 2017 average sales price increased 11.2% from the November 2016 average sales price which was $484,804.

Average days on the market increased 0% from 80 days on the market in October to 80 days on the market in November. The November 2016 average days on the market were 82, a 2.4% decrease in market time from last year.

Currently there are 763 active homes for sale in the Lake Norman MLS area, down 8.6% from November. The average list price is $734,748 down 1% from the November average list price of $742,294. The average days on the market are 191. 245 Lake Norman homes are currently under contract, down 15.2% from November. Based on this data we are currently in a balanced real estate market, 5.2 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 November 2017 33 condos/townhomes sold in the Lake Norman area, a 27% increase from the 26 condos or townhomes sold in October 2017. November 2017 sales figures decreased 17.5% from November 2016 when 40 Lake Norman condos sold.

The average sales price decreased 1% from $225,436 in October to $223,304 in November. The November 2017 average sales price decreased 6.6% from the November 2016 average sales price which was $239,094.

Average days on the market increased 3.3% from 30 in October to 31 in November. The November 2016 average days on the market were 36, a 13.9% decrease in market time.

Currently there are 30 active condo/townhome listings for sale in the Lake Norman MLS area, a 6.3% decrease from the 32 active condos for sale in November. The average list price is $322,710, up 6.2% from November’s average list price of $303,850. The average days on the market are 90. 39 Lake Norman condos/townhomes are currently under contract, a 13.3% decrease from November. Based on this months data we are currently in a sellers market, only .9 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 Lots
In November 2017 21 lots sold in the Lake Norman area, a 27.6% decrease from the 29 lots sold in October 2017. November 2017 sales figures decreased 38.2% from November 2016 when 34 Lake Norman lots sold.

The average sales price increased 4.7% from $158,893 in October to $166,376 in November. The November 2017 average sales price decreased 61.9% from the November 2016 average sales price which was $436,479.

Average days on the market increased 53.5% from 129 in October to 198 in November. The November 2016 average days on the market were 180, a 10% increase in market time versus the same time period last year.

Currently there are 601 active lot listings for sale in the Lake Norman MLS area, a decrease of 3.4% from November. The average list price is $279,925, up 2.8% from November’s average list price of $272,440. The average days on the market are 537. 59 Lake Norman area lots are currently under contract, a 12% decrease from November. Based on this data, 28.6 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 October 2017

Lake Norman Homes
In October 2017 173 homes sold in the Lake Norman area,  a 13.9% decrease from the 201 homes sold in September. The October 2017 sales figures increased24.5% from October 2016 when 139 homes sold in the Lake Norman real estate market.

The average sales price increased 2% from $538,383 in September to $548,640 in October. The October 2017 average sales price increased 13.6% from the October 2016 average sales price which was $482,774.

Average days on the market increased 1.3% from 79 days on the market in September to 80 days on the market in October. The October 2016 average days on the market were 76, a 5.3% increase in market time from last year.

Currently there are 835 active homes for sale in the Lake Norman MLS area, down 6.6% from October. The average list price is $742,294 up .3% from the October average list price of $740,436. The average days on the market are 174. 289 Lake Norman homes are currently under contract, down 9.7% from October. Based on this data we are currently in a sellers real estate market, 4.8 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 October 2017 26 condos/townhomes sold in the Lake Norman area, a 23.5% decrease from the 34 condos or townhomes sold in September 2017. October 2017 sales figures decreased 16.1% from October 2016 when 31 Lake Norman condos sold.

The average sales price decreased 9.4% from $248,802 in September to $225,436 in October. The October 2017 average sales price increased 4.4% from the October 2016 average sales price which was $215,834.

Average days on the market decreased 26.8% from 41 in September to 30 in October. The October 2016 average days on the market were 63, a 352.4% decrease in market time.

Currently there are 32 active condo/townhome listings for sale in the Lake Norman MLS area, a 15.8% decrease from the 38 active condos for sale in October. The average list price is $303,850, up 20.5% from October’s average list price of $252,080. The average days on the market are 87. 450 Lake Norman condos/townhomes are currently under contract, a 2% increase from October. Based on this months data we are currently in a sellers market, only 1.2 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 Lots
In October 2017 29 lots sold in the Lake Norman area, a 27.5% decrease from the 40 lots sold in September 2017. October 2017 sales figures increased 45% from October 2016 when 20 Lake Norman lots sold.

The average sales price decreased 29.3% from $224,879 in September to $158,893 in October. The October 2017 average sales price increased 13% from the October 2016 average sales price which was $140,630.

Average days on the market decreased 21.8% from 165 in September to 129 in October. The October 2016 average days on the market were 213, a 39.4% decrease in market time versus the same time period last year.

Currently there are 625 active lot listings for sale in the Lake Norman MLS area, an increase of 1% from October. The average list price is $272,440, up 3.7% from October’s average list price of $262,660. The average days on the market are 520. 67 Lake Norman area lots are currently under contract, a 17.5% increase from October. Based on this data, 21.5 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 September 2017

Lake Norman Homes
In September 2017 200 homes sold in the Lake Norman area, the highest September total on record but a 4.8% decrease from the 210 homes sold in August. The September 2017 sales figures increased 7.5% from September 2016 when 186 homes sold in the Lake Norman real estate market.

The average sales price increased 3% from $523,532 in August to $539,050 in September. The September 2017 average sales price increased 12.6% from the September 2016 average sales price which was $478,766.

Average days on the market increased 1.3% from 78 days on the market in August to 79 days on the market in September. The September 2016 average days on the market were 75, a 5.3% increase in market time from last year.

Currently there are 894 active homes for sale in the Lake Norman MLS area, down 4.3% from September. The average list price is $740,436 up .8% from the September average list price of $734,530. The average days on the market are 170. 320 Lake Norman homes are currently under contract, down 12% from September. Based on this data we are currently in a sellers real estate market, 4.5 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 September 2017 34 condos/townhomes sold in the Lake Norman area, a 9.7% increase from the 31 condos or townhomes sold in August 2017. September 2017 sales figures decreased 5.6% from September 2016 when 36 Lake Norman condos sold.

The average sales price increased 13% from $220,106 in August to $248,802 in September. The September 2017 average sales price increased 5.5% from the September 2016 average sales price which was $235,721.

Average days on the market increased 5.1% from 39 in August to 41 in September. The September 2016 average days on the market were 67, a 38.8% decrease in market time.

Currently there are 38 active condo/townhome listings for sale in the Lake Norman MLS area, a 0% increase from the 38 active condos for sale in September. The average list price is $252,080, down 5.8% from September’s average list price of $267,710. The average days on the market are 74. 49 Lake Norman condos/townhomes are currently under contract, a 26% increase from September. Based on this months data we are currently in a sellers market, only 1.1 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 Lots
In September 2017 40 lots sold in the Lake Norman area, a 17.6% increase from the 34 lots sold in August 2017. September 2017 sales figures increased 90.5% from September 2016 when 21 Lake Norman lots sold.

The average sales price increased 46.6% from $153,392 in August to $224,879 in September. The September 2017 average sales price decreased 11.8% from the September 2016 average sales price which was $254,956.

Average days on the market decreased 4.6% from 173 in August to 165 in September. The September 2016 average days on the market were 174, a 5.2% decrease in market time versus the same time period last year.

Currently there are 619 active lot listings for sale in the Lake Norman MLS area, a decrease of .5% from September. The average list price is $262,660, down 2.8% from September’s average list price of $270,181. The average days on the market are 527. 57 Lake Norman area lots are currently under contract, a 0% decrease from September. Based on this data, 15.5 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

The image below is provided by the local Realtor Association and uses a different map then we do so the stats will differ. Click image for more legible picture.