Lake Norman Waterfront Real Estate Update August 2019

Lake Norman Waterfront Real Estate Update August 2019

Lake Norman Waterfront Homes

In August 2019 50 waterfront homes sold in the Lake Norman area, a 19% increase from the 42 Lake Norman waterfront homes sold in July 2019. August 2019 Lake Norman waterfront home sales figures decreased 13.8% from August 2018 when 58 Lake Norman waterfront homes sold.

The average sales price decreased by 7% from $1,005,207 in July to $934,792 in August 2019. The August 2019 average sales price increased 3.2% from the August 2018 average sales price which was $905,482.

Average days on the market increased from 71 in July to 89 in August 2019, a 25.4% increase in market time. The August 2018 average days on the market were 120, a 25.8% decrease in market time from one year ago.

Currently, there are 245 active Lake Norman waterfront homes listed in the MLS, down 9.3% from August. There are 99 Lake Norman waterfront homes under contract, up 20.7% from August. The average list price of active listings is $1,343,830 up 2.5% from August’s average list price of $1,311,046. The lowest-priced active Lake Norman waterfront home is listed at $215,000 and the highest priced Lake Norman waterfront home is listed at $6,995,000. Based on this data, 4.9 months of inventory, we are currently in a balanced market for Lake Norman waterfront homes.

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Lake Norman Waterfront Condos & Townhomes

In August 2019 18 waterfront condos or townhomes sold in the Lake Norman area, a 5.3% decrease from the 19 Lake Norman waterfront condos sold in July 2019. August 2019 sales figures increased 5.9% from August 2018 when 17 Lake Norman waterfront condos sold.

The average sales price increased by 13.2% from $288,489 in July to $326,667 in August 2019. The August 2019 average sales price increased 9.4% from the August 2018 average sales price which was $298,647.

Average days on the market decreased by 16.7% from 60 in July to 50 days on the market in August 2019. The August 2018 average days on the market were 41 a 22% increase in market time from one year ago.

Currently there are 34 active Lake Norman waterfront condos listed in the MLS, a 6.3% increase in active inventory from August. There are 15 Lake Norman waterfront condos under contract, down 28.6% from August. The average list price of active listings is $335,426, up .7% from last months average list price of $332,941. The lowest-priced active Lake Norman waterfront condo is listed at $189,000 and the highest priced active Lake Norman waterfront condo is listed at $675,000. Based on this data, 1.9 months of inventory, we are currently in a seller’s market for Lake Norman waterfront condos.

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Lake Norman Waterfront Lots

In August 2019 6 waterfront lots sold in the Lake Norman area, a 14.3% decrease from the 7 Lake Norman waterfront lots sold in July 2019. August 2019 sales figures increased 50% from August 2018 when 4 Lake Norman waterfront lots sold.

The average sales price in August 2019 was $549,917, up 58.6% from the July 2019 average sales price which was $346,643 The August 2019 average sales price increased 94.6% from the August 2018 average sales price of $282,625

The average days on the market increased by 60.4% from 197 days in July to 316 days on the market in August 2019. Days on the market were up 163% from August 2018 when the average was 120 days on the market.

Currently, there are 203 active Lake Norman waterfront lots listed in the MLS, down 1.9% from August. There are 28 Lake Norman waterfront lots under contract, down 3.4% from August. The average list price is $533,504, up 4.7% from last month. The lowest-priced Lake Norman waterfront lot is listed at $60.000 and the highest priced Lake Norman waterfront lot is listed at $4,900,000. Based on this data, 7.7 months of inventory, we are currently in a balanced market for Lake Norman waterfront lots.

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Lake Norman Real Estate Market Update August 2019

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.

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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.

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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.

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Lake Norman Waterfront Real Estate Update July 2019

Lake Norman Waterfront Real Estate Update July 2019

Lake Norman Waterfront Homes

In July 2019 42 waterfront homes sold in the Lake Norman area, a 28.8% decrease from the 59 Lake Norman waterfront homes sold in June 2019. July 2019 Lake Norman waterfront home sales figures decreased 12.5% from July 2018 when 48 Lake Norman waterfront homes sold.

The average sales price decreased by 12.8% from $1,152,267 in June to $1,005,207 in July 2019. The July 2019 average sales price increased 22.3% from the July 2018 average sales price which was $821,910.

Average days on the market decreased from 95 in June to 71 in July 2019, a 25.3% decrease in market time. The July 2018 average days on the market were 97, a 26.8% decrease in market time from one year ago.

Currently, there are 270 active Lake Norman waterfront homes listed in the MLS, down 9.1% from July. There are 82 Lake Norman waterfront homes under contract, up 7.9% from July. The average list price of active listings is $1,311,046 up 3.4% from July’s average list price of $1,267,611. The lowest-priced active Lake Norman waterfront home is listed at $145,000 and the highest priced Lake Norman waterfront home is listed at $6,995,000. Based on this data, 6.4 months of inventory, we are currently in a balanced market for Lake Norman waterfront homes.

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Lake Norman Waterfront Condos & Townhomes

In July 2019 19 waterfront condos or townhomes sold in the Lake Norman area, a 0% increase from the 19 Lake Norman waterfront condos sold in June 2019. July 2019 sales figures increased 5.6% from July 2018 when 18 Lake Norman waterfront condos sold.

The average sales price decreased by 5.4% from $304,837 in June to $288,489 in July 2019. The July 2019 average sales price decreased 15.7% from the July 2018 average sales price which was $342,250.

Average days on the market decreased by 7.7% from 65 in June to 60 days on the market in July 2019. The July 2018 average days on the market were 36 a 66.7% increase in market time from one year ago.

Currently there are 32 active Lake Norman waterfront condos listed in the MLS, a 13.5% decrease in active inventory from July. There are 21 Lake Norman waterfront condos under contract, up 10.5% from July. The average list price of active listings is $332,941, down .5% from last months average list price of $334,708. The lowest-priced active Lake Norman waterfront condo is listed at $174,900 and the highest priced active Lake Norman waterfront condo is listed at $615,000. Based on this data, 1.9 months of inventory, we are currently in a seller’s market for Lake Norman waterfront condos.

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Lake Norman Waterfront Lots

In July 2019 7 waterfront lots sold in the Lake Norman area, a 12.5% decrease from the 8 Lake Norman waterfront lots sold in June 2019. July 2019 sales figures decreased 30% from July 2018 when 10 Lake Norman waterfront lots sold.

The average sales price in July 2019 was $346,643, down 12.7% from the June 2019 average sales price which was $397,175 The July 2019 average sales price decreased 9.9% from the July 2018 average sales price of $384,580

The average days on the market decreased by 26.8% from 269 days in June to 197 days on the market in July 2019. Days on the market were down 3% from July 2018 when the average was 203 days on the market.

Currently, there are 207 active Lake Norman waterfront lots listed in the MLS, down 7.6% from July. There are 29 Lake Norman waterfront lots under contract, up 26.1% from July. The average list price is $509,383, up .2% 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 $4,900,000. Based on this data, 7.7 months of inventory, we are currently in a balanced market for Lake Norman waterfront lots.

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Lake Norman Real Estate Market Update July 2019

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.

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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.

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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.

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