Lake Norman Waterfront Real Estate Update August 2018

Lake Norman Waterfront Real Estate Update August 2018

Lake Norman Waterfront Homes

In August 2018 58 waterfront homes sold in the Lake Norman area, a 21% increase from the 48 Lake Norman waterfront homes sold in July 2018. August 2018 Lake Norman waterfront home sales figures decreased 22.7% from August 2017 when 75 Lake Norman waterfront homes sold.

The average sales price increased 10.2% from $821,910 in July to $905,482 in August. The August 2018 average sales price increased 9.7% from the August 2017 average sales price which was $825,304.

Average days on the market increased from 97 in July to 120 in August, a 23.7% increase in market time. The August 2017 average days on the market were 109, a 10% increase in market time.

Currently there are 293 active Lake Norman waterfront homes listed in the MLS, down 1.7% from August, with 81 also under contract, down 21.4% from August. The average list price of active listings is $1,262,619 down 1.5% from August’s average list price of $1,281,750. 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 August 2018 17 waterfront condos or townhomes sold in the Lake Norman area, a 5.6% decrease from the 18 Lake Norman waterfront condos sold in July 2018. August 2018 sales figures increased 41.7% from August 2017 when 12 Lake Norman waterfront condos sold.

The average sales price decreased 12.7% from $342,250 in July to $298,647 in August. The August 2018 average sales price increased 15.8% from the August 2017 average sales price which was $257,958.

Average days on the market increased  13.9% from 36 in July to 41 days on the market in August. The August 2017 average days on the market were 30 a 36.7% increase in market time from one year ago.

Currently there are 38 active Lake Norman waterfront condos listed in the MLS, a 5.6% increase in active inventory from August, with 18 also under contract, up 28.6% from August. The average list price of active listings is $361,638, down 13.9% from last months average list price of $419,967. 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 $1,020,000.

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Lake Norman Waterfront Lots

In August 2018 4 waterfront lots sold in the Lake Norman area, an 60% decrease from the 10 Lake Norman waterfront lots sold in July 2018. August 2018 sales figures decreased 71.4% from August 2017 when 14 Lake Norman waterfront lots sold.

The average sales price in July was $282,625, down 26.5% from the July average sales price which was $384,580. The August 2018 average sales price decreased 2.3% from the August 2017 average sales price of $289,214.

The average days on the market decreased 41% from 203 days in July to 120 days on the market in August. Days on the market were down 37% from August 2017 when the average was 190 days on the market.

Currently there are 206 active Lake Norman waterfront lots listed in the MLS, down 7.6% from August, with 33 more under contract, up 12% from August. The average list price is $480,449, down 3.4% 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 August 2018

Lake Norman Real Estate Update August 2018

Lake Norman Homes

In August 2018 251 homes sold in the Lake Norman area,  an 18.4% increase from the 212 homes sold in July 2018. The August 2018 sales figures increased 17.3% from August 2017 when 214 homes sold in the Lake Norman real estate market.

The average sales price increased 3.7% from $513,154 in July to $532,102 in August,. The August 2018 average sales price increased .8% from the August 2017 average sales price which was $527,849

Average days on the market increased 12.7% from 71 days on the market in July to 80 days on the market in August. The August 2017 average days on the market were also 80, a 0% decrease in market time from last year.

Currently there are 821 active homes for sale in the Lake Norman MLS area, up 1.1% from August. The average list price is $761,033 down 3.6% from the August average list price of $789,802. The average days on the market are 145.  312 Lake Norman homes are currently under contract, down 9.3% from August. Based on this data we are currently in a sellers market, 3.3 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In August 2018 47 condos/townhomes sold in the Lake Norman area, a 2.2 increase from the 46 condos or townhomes sold in July 2018. August 2018 sales figures increased 46.9% from August 2017 when 32 Lake Norman condos sold.

The average sales price decreased 6.7% from $267,557 in July to $249,700 in August. The August 2018 average sales price increased 14.1% from the August 2017 average sales price which was $218,916

Average days on the market increased 80% from 25 in July to 45 in August. The August 2017 average days on the market were 38, an 18.4% increase in market time from one year ago.

Currently there are 67 active condo/townhome listings for sale in the Lake Norman MLS area, a 7% decrease from the 72 active condos for sale in August. The average list price is $386,761, up 1% from August’s average list price of $382,749. The average days on the market are 100. 63 Lake Norman condos/townhomes are currently under contract, a 6% decrease from August. Based on this months data we are currently in a sellers market, only 1.4 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In August 2018 20 lots sold in the Lake Norman area, a 26% decrease from the 27 lots sold in July 2018. August 2018 sales figures decreased 42.9% from August 2017 when 35 Lake Norman lots sold.

The average sales price decreased 11.1% from $176,148 in July to $156,593 in August. The August 2018 average sales price increased 3.7% from the August 2017 average sales price which was $150,937.

Average days on the market decreased 47% from 215 in July to 114 in August. The August 2017 average days on the market were 174, a 34.5% decrease 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 4.6% from August. The average list price is $280,187, down 1.9% from August’s average list price of $285,655. The average days on the market are 512. 77 Lake Norman area lots are currently under contract, a 16.7% increase from August. Based on this data, 27.2 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 2018

Lake Norman Waterfront Real Estate Update July 2018

Lake Norman Waterfront Homes

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

The average sales price decreased 7.4% from $889,602 in June to $823,812 in July. The July 2018 average sales price decreased 6.9% from the July 2017 average sales price which was $885,116.

Average days on the market increased from 92 in June to 98 in July, a 6.5% increase in market time. The July 2017 average days on the market were 93, a 5.4% increase in market time.

Currently there are 298 active Lake Norman waterfront homes listed in the MLS, down 2% from July, with 103 also under contract, down 2.8% from July. The average list price of active listings is $1,281,750 up 9.8% from July’s average list price of $1,167,027. The lowest priced active Lake Norman waterfront home is listed at $215,000 and the highest priced Lake Norman waterfront home is listed at $7,450,000.

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Lake Norman Waterfront Condos & Townhomes

In July 2018 18 waterfront condos or townhomes sold in the Lake Norman area, a 125% increase from the 8 Lake Norman waterfront condos sold in June 2018. July 2018 sales figures increased 20% from July 2017 when 15 Lake Norman waterfront condos sold.

The average sales price increased 26.5% from $270,500 in June to $342,250 in July. The July 2018 average sales price increased 17.9% from the July 2017 average sales price which was $290,380.

Average days on the market decreased 18.2% from 44 in June to 36 days on the market in July. The July 2017 average days on the market were 57 a 36.8% decrease in market time from one year ago.

Currently there are 35 active Lake Norman waterfront condos listed in the MLS, a 14.6% decrease in active inventory from July, with 14 also under contract, down 6.7% from July. The average list price of active listings is $419,967, up 10.1% from last months list price of $381,271. The lowest priced active Lake Norman waterfront condo is listed at $187,000 and the highest priced active Lake Norman waterfront condo is listed at $1,045,000.

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Lake Norman Waterfront Lots

In July 2018 10 waterfront lots sold in the Lake Norman area, an 11.1% increase from the 9 Lake Norman waterfront lots sold in June 2018. July 2018 sales figures decreased 16.7% from July 2017 when 12 Lake Norman waterfront lots sold.

The average sales price in July was $384,080, up 30.5% from the June average sales price which was $294,389. The July 2018 average sales price decreased 23.7% from the July 2017 average sales price of $503,533.

The average days on the market decreased 33% from 303 days in June to 203 days on the market in July. Days on the market were down 1.5% from July 2017 when the average was 206 days on the market.

Currently there are 223 active Lake Norman waterfront lots listed in the MLS, down .01% from July, with 29 more under contract. The average list price is $497,404, down .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 $4,500,000.

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Lake Norman Real Estate Market Update July 2018

Lake Norman Real Estate Update July 2018

Lake Norman Homes

In July 2018 210 homes sold in the Lake Norman area,  a 19.8% decrease from the 262 homes sold in June 2018. The July 2018 sales figures increased 8.2% from July 2017 when 194 homes sold in the Lake Norman real estate market.

The average sales price decreased 5% from $540,254 in June to $513,774 in July,. The July 2018 average sales price decreased 2.4% from the July 2017 average sales price which was $526,423

Average days on the market increased 1.4% from 71 days on the market in June to 72 days on the market in July. The July 2017 average days on the market were 75, a 4% decrease in market time from last year.

Currently there are 812 active homes for sale in the Lake Norman MLS area, down 6.1% from July. The average list price is $789,802 up 4.9% from the June average list price of $752,855. The average days on the market are 148.  344 Lake Norman homes are currently under contract, down 12% from July. Based on this data we are currently in a sellers market, 3.9 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In July 2018 46 condos/townhomes sold in the Lake Norman area, a 24.3% increase from the 37 condos or townhomes sold in June 2018. July 2018 sales figures increased 9.5% from July 2017 when 42 Lake Norman condos sold.

The average sales price increased 23.4% from $216,871 in June to $267,557 in July. The July 2018 average sales price increased 11.4% from the July 2017 average sales price which was $240,202

Average days on the market increased 13.6% from 22 in June to 25 in July. The July 2017 average days on the market were 58, a 57% decrease in market time from one year ago.

Currently there are 72 active condo/townhome listings for sale in the Lake Norman MLS area, an 8.9% decrease from the 79 active condos for sale in July. The average list price is $382,749, up 1.6% from July’s average list price of $376,857. The average days on the market are 89. 67 Lake Norman condos/townhomes are currently under contract, a 5.6% decrease from July. Based on this months data we are currently in a sellers market, only 1.6 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In July 2018 26 lots sold in the Lake Norman area, a 5.6% decrease from the 28 lots sold in June 2018. July 2018 sales figures decreased 0% from July 2017 when 26 Lake Norman lots sold.

The average sales price increased 31.1% from $138,657 in June to $181,712 in July. The July 2018 average sales price decreased 32.8% from the July 2017 average sales price which was $270,542.

Average days on the market decreased 7% from 227 in June to 211 in July. The July 2017 average days on the market were 179, a 17.9% increase in market time versus the same time period last year.

Currently there are 570 active lot listings for sale in the Lake Norman MLS area, an increase of .7% from July. The average list price is $285,655, down 3.7% from July’s average list price of $296,712. The average days on the market are 494. 66 Lake Norman area lots are currently under contract, a 1.5% increase from July. Based on this data, 21.9 months of inventory, we are in a buyers market for Lake Norman lots & land.

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