Lake Norman Real Estate Market Update March 2019

Lake Norman Real Estate Update March 2019

Lake Norman Homes

In March 2019 163 homes sold in the Lake Norman area,  a 32.5% increase from the 123 homes sold in February 2019. The March 2019 sales figures increased 17.3% from March 2018  when 139 homes sold in the Lake Norman real estate market.

The average sales price decreased by 9% from $497,650 in February to $453,009 in March 2019. The March 2019 average sales price decreased 5.9% from the March 2018 average sales price which was $481,307.

Average days on the market increased by 7.7% from 78 days on the market in February to 84 days on the market in March 2019. The March 2018 average days on the market were 93, a 9.7% decrease in market time from last year.

Currently, there are 765 active homes for sale in the Lake Norman MLS area, up 1.2% from March. The average list price is $787,354 up 1.7% from the March average list price of $773,848. The average days on the market are 147.  There are 414 Lake Norman homes currently under contract, up 18% from March. Based on this data we are currently in a seller’s market, 1.3 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In March 2019 35 condos/townhomes sold in the Lake Norman area, a 94% increase from the 18 condos or townhomes sold in February 2019. March 2019 sales figures decreased 7.9% from March 2018 when 38 Lake Norman condos sold.

The average sales price decreased by 8% from $248,622 in February to $228,575 in March 2019. The March 2019 average sales price decreased 5.8% from the March 2018 average sales price which was $242,690.

Average days on the market decreased by 21% from 57 in February to 45 in March 2019. The March 2018 average days on the market were 37, a  21.6% increase in market time from one year ago.

Currently, there are 86 active condo/townhome listings for sale in the Lake Norman MLS area, a 13% increase from the 76 active condos for sale in March. The average list price is $335,245, down .5% from March’s average list price of $336,947. The average days on the market are 106. There are 50 Lake Norman condos/townhomes currently under contract, a 19% decrease from March. Based on this months data we are currently in seller’s market, only 1 month of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In March 2019 14 lots sold in the Lake Norman area, a 0% decrease from the 14 lots sold in February 2019. March 2019 sales figures decreased 51.7% from March 2018 when 29 Lake Norman lots sold.

The average sales price decreased by 31.8% from $210,036 in February to $143,286 in March 2019. The March 2019 average sales price increased 23.3% from the March 2018 average sales price which was $116,210.

Average days on the market decreased by 23.3% from 253 in February to 194 in March 2019. The March 2018 average days on the market were 229, an 15.3% decrease in market time versus the same time period last year.

Currently, there are 558 active lot listings for sale in the Lake Norman MLS area, an increase of 1.3% from March. The average list price is $279,601, up 1.2% from March’s average list price of $276,222. The average days on the market are 453. There are 64 Lake Norman area lots currently under contract, an 18.5% increase from March. Based on this data, 7.2 months of inventory, we are in a balanced market for Lake Norman lots & land.

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Lake Norman Real Estate Market Update February 2019

Lake Norman Real Estate Update February 2019

Lake Norman Homes

In February 2019 123 homes sold in the Lake Norman area,  a 13.9% increase from the 108 homes sold in January 2019. The February 2019 sales figures increased 4.2% from February 2018  when 118 homes sold in the Lake Norman real estate market.

The average sales price increased by 2.6% from $485,103 in January to $497,650 in February 2019. The February 2019 average sales price decreased 6.2% from the February 2018 average sales price which was $530,607.

Average days on the market decreased by 8.2% from 85 days on the market in January to 78 days on the market in February 2019. The February 2018 average days on the market were 98, an 20.4% decrease in market time from last year.

Currently there are 756 active homes for sale in the Lake Norman MLS area, up 6.5% from February. The average list price is $773,848 up .09% from the February average list price of $773,160. The average days on the market are 156.  There are 351 Lake Norman homes currently under contract, up 6% from February. Based on this data we are currently in a seller’s market, 1.6 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In February 2019 18 condos/townhomes sold in the Lake Norman area, a 12.5% increase from the 16 condos or townhomes sold in January 2019. February 2019 sales figures increased 20% from February 2018 when 15 Lake Norman condos sold.

The average sales price decreased by 3% from $256,301 in January to $248,622 in February 2019. The February 2019 average sales price increased 16.8% from the February 2018 average sales price which was $212,873.

Average days on the market increased by 119% from 26 in January to 57 in February 2019. The February 2018 average days on the market were 45, a  26.7% increase in market time from one year ago.

Currently there are 76 active condo/townhome listings for sale in the Lake Norman MLS area, a 0% increase from the 76 active condos for sale in February. The average list price is $336,947, down 6% from February’s average list price of $358,577. The average days on the market are 99. There are 62 Lake Norman condos/townhomes currently under contract, a 10.7% increase from February. Based on this months data we are currently in seller’srs market, only .8 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In February 2019 14 lots sold in the Lake Norman area, a 30% decrease from the 20 lots sold in January 2019. February 2019 sales figures decreased 4.8% from February 2018 when 21 Lake Norman lots sold.

The average sales price decreased by 36.4% from $330,250 in January to $210,036 in February 2019. The February 2019 average sales price increased 70.5% from the February 2018 average sales price which was $123,162.

Average days on the market increased by 8.1% from 234 in January to 253 in February 2019. The February 2018 average days on the market were 135, a 87.4% increase in market time versus the same time period last year.

Currently there are 551 active lot listings for sale in the Lake Norman MLS area, an increase of 9.8% from February. The average list price is $276,222, up 5.2% from February’s average list price of $262,487. The average days on the market are 462. There are 54 Lake Norman area lots currently under contract, a 5.3% decrease from February . Based on this data, 8.1 months of inventory, we are in a balanced market for Lake Norman lots & land.

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Lake Norman Real Estate Market Update January 2019

Lake Norman Real Estate Update January 2019

Lake Norman Homes

In January 2019 105 homes sold in the Lake Norman area,  a 23.4% decrease from the 137 homes sold in December 2018. The January 2019 sales figures increased 6.1% from January 2018  when 99 homes sold in the Lake Norman real estate market.

The average sales price decreased 11.1% from $547,872 in December to $486,793 in January 2019,. The January 2019 average sales price decreased 7.6% from the January 2018 average sales price which was $527,032.

Average days on the market increased 13.2% from 76 days on the market in December to 86 days on the market in January 2019. The January 2018 average days on the market were 79, an 8.9% increase in market time from last year.

Currently there are 710 active homes for sale in the Lake Norman MLS area, up 3.3% from January. The average list price is $773,160 up 2.9% from the January average list price of $751,550. The average days on the market are 166.  There are 331 Lake Norman homes currently under contract, up 19% from January. Based on this data we are currently in a balanced market, 6.8 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In January 2019 16 condos/townhomes sold in the Lake Norman area, a 23.8% decrease from the 21 condos or townhomes sold in December 2018. January 2019 sales figures decreased 36% from January 2018 when 25 Lake Norman condos sold.

The average sales price decreased 13.8% from $297,284 in December to $256,301 in January 2019. The January 2019 average sales price increased 20.6% from the January 2018 average sales price which was $212,479.

Average days on the market decreased 59.4% from 64 in December to 26 in January 2019. The January 2018 average days on the market were 45, a  42.2% decrease in market time from one year ago.

Currently there are 76 active condo/townhome listings for sale in the Lake Norman MLS area, a 2.7% increase from the 74 active condos for sale in January. The average list price is $358,577, up 1.7% from January’s average list price of $352,423. The average days on the market are 109. There are 56 Lake Norman condos/townhomes currently under contract, a 12% increase from January. Based on this months data we are currently in a sellers market, only 4.8 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In January 2019 20 lots sold in the Lake Norman area, a 17.6% increase from the 17 lots sold in December 2018. January 2019 sales figures decreased 20% from January 2018 when 25 Lake Norman lots sold.

The average sales price increased 7% from $308,719 in December to $330,250 in January 2019. The January 2019 average sales price increased 130% from the January 2018 average sales price which was $143,840.

Average days on the market increased 13% from 207 in December to 234 in January 2019. The January 2018 average days on the market were 243, a 3.7% decrease in market time versus the same time period last year.

Currently there are 502 active lot listings for sale in the Lake Norman MLS area, a decrease of 1.42.5% from January. The average list price is $262,487, up 1.3% from January’s average list price of $259,109. The average days on the market are 493. There are 57 Lake Norman area lots currently under contract, a 24% increase from January. Based on this data, 25.1 months of inventory, we are in a buyers market for Lake Norman lots & land.

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Lake Norman Real Estate Market Update December 2018

Lake Norman Real Estate Update December 2018

Lake Norman Homes

In December 2018 137 homes sold in the Lake Norman area,  a 12.3% increase from the 122 homes sold in November 2018. The December 2018 sales figures decreased 122.2% from December 2017 when 176 homes sold in the Lake Norman real estate market.

The average sales price decreased 8.7% from $599,862 in November to $547,872 in December,. The December 2018 average sales price increased 13.2% from the December 2017 average sales price which was $484,190.

Average days on the market decreased 3.8% from 79 days on the market in November to 76 days on the market in December. The December 2017 average days on the market were 82, an 3.7% decrease in market time from last year.

Currently there are 687 active homes for sale in the Lake Norman MLS area, down 4.5% from December. The average list price is $751,550 down .1% from the December average list price of $752,572. The average days on the market are 172.  There are 276 Lake Norman homes currently under contract, up 10% from December. Based on this data we are currently in a balanced market, 5.0 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In December 2018 21 condos/townhomes sold in the Lake Norman area, a 22.2% decrease from the 27 condos or townhomes sold in November 2018. December 2018 sales figures decreased 34.4% from December 2017 when 32 Lake Norman condos sold.

The average sales price increased 16.4% from $255,327 in November to $297,284 in December. The December 2018 average sales price increased 29.3% from the December 2017 average sales price which was $229,978.

Average days on the market increased 28% from 50 in November to 64 in December. The December 2017 average days on the market were 31, a 106% 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 1.3% decrease from the 75 active condos for sale in December. The average list price is $352,423, up .5% from December’s average list price of $350,646. The average days on the market are 105. There are 50 Lake Norman condos/townhomes currently under contract, a 2% decrease from December. Based on this months data we are currently in a sellers market, only 3.5 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In December 2018 16 lots sold in the Lake Norman area, a 15.8% decrease from the 19 lots sold in November 2018. December 2018 sales figures decreased 0% from December 2017 when 16 Lake Norman lots sold.

The average sales price increased 43.5% from $209,479 in November to $300,633 in December. The December 2018 average sales price increased 62% from the December 2017 average sales price which was $185.556.

Average days on the market decreased 1.4% from 222 in November to 219 in December. The December 2017 average days on the market were 160, a 36.9% increase in market time versus the same time period last year.

Currently there are 509 active lot listings for sale in the Lake Norman MLS area, a decrease of 2.5% from December. The average list price is $259,109, up 1% from December’s average list price of $256,595. The average days on the market are 494. There are 46 Lake Norman area lots currently under contract, a 16% decrease from December. Based on this data, 31.8 months of inventory, we are in a buyers market for Lake Norman lots & land.

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