Lake Norman Waterfront Real Estate Update October 2018

Lake Norman Waterfront Real Estate Update October 2018

Lake Norman Waterfront Homes

In October 2018 41 waterfront homes sold in the Lake Norman area, a 12.8% decrease from the 47 Lake Norman waterfront homes sold in September 2018. October 2018 Lake Norman waterfront home sales figures decreased 8.9% from October 2017 when 45 Lake Norman waterfront homes sold.

The average sales price decreased 5.1% from $925,261 in September to $877,800 in October. The October 2018 average sales price decreased 12.9% from the October 2017 average sales price which was $1,008,022.

Average days on the market increased from 70 in September to 84 in October, a 20% increase in market time. The October 2017 average days on the market were 127, a 33.9% decrease in market time.

Currently there are 261 active Lake Norman waterfront homes listed in the MLS, down 9.4% from October. There are 71 Lake Norman waterfront homes under contract, down 6.6% from October. The average list price of active listings is $1,280,880 up 6.4% from October’s average list price of $1,203,743. The lowest priced active Lake Norman waterfront home is listed at $150,000 and the highest priced Lake Norman waterfront home is listed at $7,200,000.

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Lake Norman Waterfront Condos & Townhomes

In October 2018 15 waterfront condos or townhomes sold in the Lake Norman area, a 36.4% increase from the 11 Lake Norman waterfront condos sold in September 2018. October 2018 sales figures increased 50% from October 2017 when 10 Lake Norman waterfront condos sold.

The average sales price decreased 3.9% from $341,045 in September to $327,833 in October. The October 2018 average sales price increased 30% from the October 2017 average sales price which was $252,250.

Average days on the market increased  62.5% from 48 in September to 78 days on the market in October. The October 2017 average days on the market were 49 a 59.2% increase in market time from one year ago.

Currently there are 30 active Lake Norman waterfront condos listed in the MLS, a 9.1%decrease in active inventory from October. There are 15 Lake Norman waterfront condos under contract, up 67% from October. The average list price of active listings is $357,130, down 4.2% from last months average list price of $372,602. The lowest priced active Lake Norman waterfront condo is listed at $179,900 and the highest priced active Lake Norman waterfront condo is listed at $1,050,000.

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Lake Norman Waterfront Lots

In October 2018 12 waterfront lots sold in the Lake Norman area, a 71% increase from the 7 Lake Norman waterfront lots sold in September 2018. October 2018 sales figures increased 8.3% from October 2017 when 11 Lake Norman waterfront lots sold.

The average sales price in October was $350,908, up 10.3% from the September average sales price which was $318,243. The October 2018 average sales price increased 2.3% from the October 2017 average sales price of $342,136.

The average days on the market decreased 14% from 193 days in September to 166 days on the market in October. Days on the market were down 27.2% from October 2017 when the average was 228 days on the market.

Currently there are 190 active Lake Norman waterfront lots listed in the MLS, down 4.7% from October. There are 23 Lake Norman waterfront lots under contract, down 26% from October. The average list price is $468,416, down .5% 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.

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Lake Norman Real Estate Market Update October 2018

Lake Norman Real Estate Update October 2018

Lake Norman Homes

In October 2018 170 homes sold in the Lake Norman area,  a 12.6% increase from the 151 homes sold in September 2018. The October 2018 sales figures decreased 5.6% from October 2017 when 180 homes sold in the Lake Norman real estate market.

The average sales price decreased 9.4% from $568,185 in September to $514,549 in October,. The October 2018 average sales price decreased 5.2% from the October 2017 average sales price which was $542,725

Average days on the market decreased 8.5% from 71 days on the market in September to 65 days on the market in October. The October 2017 average days on the market were 80, an 18.8% decrease in market time from last year.

Currently there are 795 active homes for sale in the Lake Norman MLS area, down 4.4% from October. The average list price is $746,727 up .9% from the October average list price of $740,384. The average days on the market are 151.  There are 257 Lake Norman homes currently under contract, down 2.3% from October. Based on this data we are currently in a sellers market, 4.7 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In October 2018 37 condos/townhomes sold in the Lake Norman area, a 23.3% increase from the 30 condos or townhomes sold in September 2018. October 2018 sales figures increased 42.3% from October 2017 when 26 Lake Norman condos sold.

The average sales price increased 2.3% from $262.965 in September to $269,050 in October. The October 2018 average sales price increased 19.3% from the October 2017 average sales price which was $225,436

Average days on the market increased 31.6% from 38 in September to 50 in October. The October 2017 average days on the market were 30, an 66.7% increase in market time from one year ago.

Currently there are 70 active condo/townhome listings for sale in the Lake Norman MLS area, a 6.1% increase from the 66 active condos for sale in October. The average list price is $367,791, down 6.4% from October’s average list price of $392,781. The average days on the market are 95. There are 62 Lake Norman condos/townhomes currently under contract, a 34.7% decrease from October. Based on this months data we are currently in a sellers market, only 1.9 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In October 2018 39 lots sold in the Lake Norman area, a 105% increase from the 19 lots sold in September 2018. October 2018 sales figures increased 30% from October 2017 when 30 Lake Norman lots sold.

The average sales price decreased 7.7% from $177,116 in September to $163,549 in October. The October 2018 average sales price increased 2% from the October 2017 average sales price which was $160,264.

Average days on the market decreased 3.6% from 139 in September to 134 in October. The October 2017 average days on the market were 150, a 10.7% decrease in market time versus the same time period last year.

Currently there are 546 active lot listings for sale in the Lake Norman MLS area, an increase of 1.3% from October. The average list price is $266,453, down 1.5% from October’s average list price of $270,398. The average days on the market are 524. There are 58 Lake Norman area lots currently under contract, a 24% decrease from October. Based on this data, 14 months of inventory, we are in a buyers market for Lake Norman lots & land.

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Lake Norman Waterfront Real Estate Update September 2018

Lake Norman Waterfront Real Estate Update September 2018

Lake Norman Waterfront Homes

In September 2018 47 waterfront homes sold in the Lake Norman area, a 19% decrease from the 58 Lake Norman waterfront homes sold in August 2018. September 2018 Lake Norman waterfront home sales figures decreased 25.4% from September 2017 when 63 Lake Norman waterfront homes sold.

The average sales price increased 2.2% from $905,482 in August to $925,261 in September. The September 2018 average sales price increased 5.2% from the September 2017 average sales price which was $879,279.

Average days on the market increased from 120 in August to 70 in September, a 41.7% decrease in market time. The September 2017 average days on the market were 120, a 41.7% decrease in market time.

Currently there are 288 active Lake Norman waterfront homes listed in the MLS, down 1.7% from September. There are 76 Lake Norman waterfront homes under contract, down 6.2% from September. The average list price of active listings is $1,203,743 down 4.7% from September’s average list price of $1,262,619. The lowest priced active Lake Norman waterfront home is listed at $175,000 and the highest priced Lake Norman waterfront home is listed at $7,450,000.

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Lake Norman Waterfront Condos & Townhomes

In September 2018 11 waterfront condos or townhomes sold in the Lake Norman area, a 35.3% decrease from the 17 Lake Norman waterfront condos sold in August 2018. September 2018 sales figures increased 10% from September 2017 when 10 Lake Norman waterfront condos sold.

The average sales price increased 14.2% from $298,647 in August to $341,045 in September. The September 2018 average sales price increased 22% from the September 2017 average sales price which was $279,590.

Average days on the market increased  17.1% from 41 in August to 48 days on the market in September. The September 2017 average days on the market were 38 a 26.3% increase in market time from one year ago.

Currently there are 33 active Lake Norman waterfront condos listed in the MLS, a 13.2%decrease in active inventory from September. There are 9 Lake Norman waterfront condos under contract, down 50% from September. The average list price of active listings is $372,602, up 3% from last months average list price of $419,967. The lowest priced active Lake Norman waterfront condo is listed at $200,000 and the highest priced active Lake Norman waterfront condo is listed at $1,050,000.

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Lake Norman Waterfront Lots

In September 2018 7 waterfront lots sold in the Lake Norman area, a 75% increase from the 4 Lake Norman waterfront lots sold in August 2018. September 2018 sales figures decreased 58.8% from September 2017 when 17 Lake Norman waterfront lots sold.

The average sales price in September was $318,243, up 12.6% from the August average sales price which was $282,625. The September 2018 average sales price decreased 24.7% from the September 2017 average sales price of $422,618.

The average days on the market increased 38.4% from 120 days in August to 193 days on the market in September. Days on the market were down 54.2% from September 2017 when the average was 185 days on the market.

Currently there are 199 active Lake Norman waterfront lots listed in the MLS, down 3.4% from September. There are 29 Lake Norman waterfront lots under contract, down 12.1% from September. The average list price is $466,214, down 3% 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.

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Lake Norman Real Estate Market Update September 2018

Lake Norman Real Estate Update September 2018

Lake Norman Homes

In September 2018 144 homes sold in the Lake Norman area,  a 42.6% decrease from the 251 homes sold in August 2018. The September 2018 sales figures decreased 29.4% from September 2017 when 204 homes sold in the Lake Norman real estate market.

The average sales price increased 9.1% from $532,102 in August to $580,627 in September,. The September 2018 average sales price increased 7.5% from the September 2017 average sales price which was $540,370

Average days on the market decreased 11.3% from 80 days on the market in August to 71 days on the market in September. The September 2017 average days on the market were 79, a 10.1% decrease in market time from last year.

Currently there are 832 active homes for sale in the Lake Norman MLS area, up 1.3% from September. The average list price is $740,384 down 2.7% from the September average list price of $761,033. The average days on the market are 146.  There are 263 Lake Norman homes currently under contract, down 15.7% from September. Based on this data we are currently in a sellers market, 5.8 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In September 2018 30 condos/townhomes sold in the Lake Norman area, a 36.2 decrease from the 47 condos or townhomes sold in August 2018. September 2018 sales figures decreased 14.3% from September 2017 when 35 Lake Norman condos sold.

The average sales price increased 5.3% from $249,700 in August to $262,965 in September. The September 2018 average sales price increased 5.4% from the September 2017 average sales price which was $249,455

Average days on the market decreased 15.6% from 45 in August to 38 in September. The September 2017 average days on the market were 40, an 5% decrease in market time from one year ago.

Currently there are 66 active condo/townhome listings for sale in the Lake Norman MLS area, a 1.5% decrease from the 67 active condos for sale in September. The average list price is $392,781, up 1.6% from September’s average list price of $386,761. The average days on the market are 95. There are 59 Lake Norman condos/townhomes currently under contract, a 6.3% decrease from September. 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 September 2018 19 lots sold in the Lake Norman area, a 5% decrease from the 20 lots sold in August 2018. September 2018 sales figures decreased 55% from September 2017 when 42 Lake Norman lots sold.

The average sales price increased 13.1% from $156,593 in August to $177,116 in September. The September 2018 average sales price decreased 20.8% from the September 2017 average sales price which was $223,507.

Average days on the market increased 22% from 114 in August to 139 in September. The September 2017 average days on the market were 185, a 24.9% decrease in market time versus the same time period last year.

Currently there are 539 active lot listings for sale in the Lake Norman MLS area, a decrease of .9% from September. The average list price is $270,398, down 3.5% from September ’s average list price of $280,187. The average days on the market are 514. There are 76 Lake Norman area lots currently under contract, a 1.3% decrease from September. Based on this data, 28.4 months of inventory, we are in a buyers market for Lake Norman lots & land.

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