Tag: market report

Lake Norman Real Estate Market Update February 2016

Lake Norman Real Estate Market Update February 2016

Posted on by Mike

Lake Norman Real Estate Market Update February 2016

Lake Norman Homes
In February 98 homes sold in the Lake Norman area, a 22.5% increase from the 80 homes sold in January. The February 2016 sales figures increased 10.1% from February 2015 when 89 homes sold in the Lake Norman area.

The average sales price increased 11.2% from $460,852 in January to $512,534 in February. The February 2016 average sales price increased 9.1% from the February 2015 average sales price which was $469,768.

Average days on the market increased 11% from 91 days on the market in January to 101 days on the market in February. The February 2015 average days on the market were 112, a 9.8% decrease in market time.

Currently there are 826 active homes for sale in the Lake Norman MLS area, up 6.2% from February. The average list price is $779,078 up 1.3% from the February average list price of $768,822. The average days on the market are 207. 303 Lake Norman homes are currently under contract, up 20% from February.

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

Lake Norman Condos & Townhomes
In February 30 condos/townhomes sold in the Lake Norman area, a 100% increase from the 15 condos or townhomes sold in January. February 2016 sales figures increased 36.4% from February 2015 when 22 Lake Norman condos sold.

The average sales price increased 7.9% from $193,862 in January 2015 to $209,231 in February 2016. The February 2016 average sales price increased 12.1% from the February 2015 average sales price which was $186,661.

Average days on the market decreased 47.3% from 109 in January to 74 in February. The February 2015 average days on the market were 82, a 9.8% decrease in market time.

Currently there are 82 active condo/townhome listings for sale in the Lake Norman MLS area, a 22.4% increase from the 67 condos for sale in February. The average list price is $262,574, down .07% from February’s average list price of $262,767. The average days on the market are 99. 43 Lake Norman condos/townhomes are currently under contract, a 2.4% increase from February.

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

Lake Norman Lots
In February 22 lots sold in the Lake Norman area, a 214% increase from the 7 lots sold in January. February 2016 sales figures increased 22.2% from February 2015 when 18 Lake Norman lots sold.

The average sales price increased 5% from $131,065 in January to $137,663 in February. The February 2016 average sales price decreased 39.5% from the February 2015 average sales price which was $227,472.

Average days on the market decreased 43.8% from 306 in January to 172 in February. The February 2015 average days on the market were 195, an 11.8% decrease in market time versus the same time period last year.

Currently there are 672 active lot listings for sale in the Lake Norman MLS area, an increase of 3.9% from February. The average list price is $249,235, up 9.6% from February’s average list price of $246,876. The average days on the market are 509. 78 Lake Norman area lots are currently under contract, a 23.8% increase from February.

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

Lake Norman Real Estate Market Update January 2016

Lake Norman Real Estate Market Update January 2016

Posted on by Mike

LAKE NORMAN REAL ESTATE MARKET UPDATE JANUARY 2016

Lake Norman Homes
In January 2016 80 homes sold in the Lake Norman area, an 37.5% decrease from the 128 homes sold in December. The January 2016 sales figures increased 14.3% from January 2015 when 70 homes sold in the Lake Norman area.

The average sales price decreased 4.2% from $480,944 in December to $460,852 in January 2016. The January 2016 average sales price increased 16.3% from the January 2015 average sales price which was $396,376.

Average days on the market increased 9.6% from 83 days on the market in December to 91 days on the market in January. The January 2015 average days on the market were 108, a 15.7% decrease in market time.

Currently there are 778 active homes for sale in the Lake Norman MLS area, up 3.6% from January. The average list price is $768,822 down .5% from the January average list price of $772,850. The average days on the market are 227. 252 Lake Norman homes are currently under contract, up 14.3% from January.

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

Lake Norman Condos & Townhomes
In January 2016 14 condos/townhomes sold in the Lake Norman area, a 48.1% decrease from the 27 condos or townhomes sold in December 2015. January 2016 ales figures increased 16.7% from January 2015 when 12 Lake Norman condos sold.

The average sales price decreased 22.8% from $252,882 in December 2015 to $195,104 in January 2016. The January 2016 average sales price decreased 17.3% from the January 2015 average sales price which was $235,798.

Average days on the market increased 77.8% from 63 in December to 112 in January. The January 2015 average days on the market were 111, a .9% increase in market time.

Currently there are 67 condo/townhomes for sale in the Lake Norman MLS area, a 16.25% decrease from the 80 condos for sale in January. The average list price is $262,7067, up 7.1% from January’s average list price of $245,305. The average days on the market are 108. 42 Lake Norman condos/townhomes are currently under contract, a 20% increase from January.

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

Lake Norman Lots
In January 2016 7 lots sold in the Lake Norman area, a 50% decrease from the 14 lots sold in December. January 2016 sales figures decreased 73.1% from January 2015 when 26 Lake Norman lots sold.

The average sales price increased 10.6% from $118,543 in December to $131,065 in January. The January 2016 average sales price decreased 20.6% from the January 2015 average sales price which was $165,116.

Average days on the market increased 92.5% from 159 in December to 306 in January. The January 2015 average days on the market were 250, a 22.4% increase in market time versus the same time period last year.

Currently there are 647 active lot listings for sale in the Lake Norman MLS area, a decrease of 4.5% from January. The average list price is $246,876, down 5.3% from January’s average list price of $260,488. The average days on the market are 511. 63 Lake Norman area lots are currently under contract, a 3.3% increase from January.

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

Lake Norman Real Estate Year In Review For 2015

Lake Norman Real Estate Year In Review For 2015

Posted on by Mike

2015 Lake Norman Real Estate Market Review

Lake Norman Homes

The Lake Norman real estate market saw its 6th straight year of increased total closed home sales. And the highest number of closed home sales since 2006. To say that the Lake Norman real estate market is recovering is an understatement. We are seeing multiple offers and offers over list price in a lot of Lake Norman communities. However, some pockets of Lake Norman are still in a buyers market.

The median sales price saw a slight decrease from 2014 ($50), an indication that the market has stabilized and become balanced between a sellers market and a buyers market. This is also an indication that a younger buying group, Millennials,  have entered the real estate market as we discussed in last years review of the Lake Norman real estate market.

The average sales price also saw a moderate decrease from 2014 (2%). This is another indication that a younger buying group, Millennials, have entered the real estate market as we discussed in last years review of the Lake Norman real estate market.

The average days on the market decreased 8.3% from 2014 and again reached the lowest level since 2009. A strong indication that the market is near full recovery. We are currently in a sellers market in many Lake Norman neighborhoods but overall we are in a balanced market.

The average price per square foot saw a slight increase (1.3%) from 2014 and maintained its highest level since 2008.

Lake Norman home owners also saw an slight increase (.2%) in the average % of sales price to list price, with homes selling for 94.4% of the original list price. This was again the highest % of original price since 2007.

In review, almost every statistical indicator for the Lake Norman real estate market saw an increase from 2014 with many maintaining the highest they’ve been since before the market crashed in 2008. I expect to see similar yet smaller gains in 2016. Homeowners may see some other changes in the real estate landscape as well. Millennials have begun buying more homes and signs point to an upswing in new construction homes. Interest rates have stayed low, median home prices have gone up and foreclosure inventories are down. If trends continue as expected, the market will continue to recover through 2016.

Lake Norman Real Estate Market Update December 2015

Lake Norman Real Estate Market Update December 2015

Posted on by Mike

Lake Norman Real Estate Market Update December 2015

Lake Norman Homes
In December 2015 127 homes sold in the Lake Norman area, an 18.7% increase from the 107 homes sold in November. The December 2015 sales figures decreased 9.3% from December 2014 when 140 homes sold in the Lake Norman area.

The average sales price increased 7% from $451,641 in November to $483,039 in December. The December 2015 average sales price increased 6.1% from the December 2014 average sales price which was $455,440.

Average days on the market increased 15.3% from 72 days on the market in November to 83 days on the market in December. December 2014 average days on the market were 84, a 1.2% decrease in market time.

Currently there are 751 homes for sale in the Lake Norman MLS area, down 5.3% from December. The average list price is $772,850 up 2.8% from the December average list price of $751,531. The average days on the market are 227. 216 Lake Norman homes are currently under contract, up 4.9% from December.

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

Lake Norman Condos & Townhomes
In December 2015 27 condos/townhomes sold in the Lake Norman area, a 22.7% increase from the 22 condos or townhomes sold in November 2015. December 015 ales figures increased 107.7% from December 2014 when 13 Lake Norman condos sold.

The average sales price increased 21.9% from $207,404 in November 2015 to $252,882 in December 2015. The December 2015 average sales price increased 12.1% from the December 2014 average sales price which was $225,636.

Average days on the market increased 8.6% from 58 in November to 63 in December. December 2014 average days on the market were 110, a 42.7% decrease in market time.

Currently there are 80 condo/townhomes for sale in the Lake Norman MLS area, a 29% decrease from the 113 condos for sale in December. The average list price is $245,305, up 6.2% from December’s average list price of $230,996. The average days on the market are 104. 35 Lake Norman condos/townhomes are currently under contract, a 2.9% increase from December.

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

Lake Norman Lots
In December 2015 14 lots sold in the Lake Norman area, a 44% decrease from the 25 lots sold in November. December 2015 sales figures decreased 51.7% from December 2014 when 29 Lake Norman lots sold.

The average sales price decreased 22.4% from $152,832 in November to $118,543 in December. The December 2015 average sales price decreased 38.8% from the December 2014 average sales price which was $193,603.

Average days on the market increased 1.3% from 157 in November to 159 in December. The December 2014 average days on the market were 232, a 31.5% decrease in market time versus the same time period last year.

Currently there are 672 lots for sale in the Lake Norman MLS area, a decrease of 7.2% from December. The average list price is $260,488, up 5.1% from December’s average list price of $247,781. The average days on the market are 509. 61 Lake Norman area lots are currently under contract, a 38% increase from December.

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