Lake Norman Real Estate Market Update June 2019

Lake Norman Real Estate Update June 2019

Lake Norman Homes

In June 2019 230 homes sold in the Lake Norman area,  a 5.3% decrease from the 243 homes sold in May 2019. The June 2019 sales figures decreased 12.9% from June 2018  when 264 homes sold in the Lake Norman real estate market.

The average sales price increased by 15.8% from $522,388 in May to $604,809 in June 2019. The June 2019 average sales price increased 12% from the June 2018 average sales price which was $540,025.

Average days on the market decreased by 1.4% from 72 days on the market in May to 71 days on the market in June 2019. The June 2018 average days on the market were 71, a 0% increase in market time from last year.

Currently, there are 805 active homes for sale in the Lake Norman MLS area, up 3.9% from June. The average list price is $782,200 down 2.4% from the June average list price of $801,362. The average days on the market are 141.  There are 339 Lake Norman homes currently under contract, down 11.3% from June. Based on this data we are currently in a seller’s market, 3.5 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In June 2019 37 condos/townhomes sold in the Lake Norman area, a 42.3% increase from the 26 condos or townhomes sold in May 2019. June 2019 sales figures decreased 0% from June 2018 when 37 Lake Norman condos sold.

The average sales price increased by 3.1% from $252,906 in May to $260,819 in June 2019. The June 2019 average sales price increased 20.3% from the June 2018 average sales price which was $216,871.

Average days on the market increased by 40% from 40 in May to 56 in June 2019. The June 2018 average days on the market were 22, a  155% increase in market time from one year ago.

Currently, there are 83 active condo/townhome listings for sale in the Lake Norman MLS area, an 11.7% decrease from the 94 active condos for sale in June. The average list price is $387,944, down 1.1% from June’s average list price of $392,279. The average days on the market are 89. There are 61 Lake Norman condos/townhomes currently under contract, a 7% increase from June. Based on this months data we are currently in seller’s market, only 2.2 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In June 2019 16 lots sold in the Lake Norman area, a 38.5% decrease from the 26 lots sold in May 2019. June 2019 sales figures decreased 42.9% from June 2018 when 28 Lake Norman lots sold.

The average sales price increased by 40.6% from $161,040 in May to $226,462 in June 2019. The June 2019 average sales price increased 63.3% from the June 2018 average sales price which was $138,657.

Average days on the market increased by 19.5% from 205 in May to 245 in June 2019. The June 2018 average days on the market were 227, a 7.9% increase 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 2.2% from June. The average list price is $321,610, up 5.7% from June’s average list price of $304,208. The average days on the market are 443. There are 71 Lake Norman area lots currently under contract, a 6% increase from June. Based on this data, 34 months of inventory, we are in a buyers market for Lake Norman lots & land.

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Lake Norman Real Estate Market Update May 2019

Lake Norman Real Estate Update May 2019

Lake Norman Homes

In May 2019 242 homes sold in the Lake Norman area,  a 27.4% increase from the 190 homes sold in April 2019. The May 2019 sales figures increased 10.5% from May 2018  when 219 homes sold in the Lake Norman real estate market.

The average sales price decreased by 7.6% from $565,870 in April to $522,853 in May 2019. The May 2019 average sales price decreased 4.8% from the May 2018 average sales price which was $549,058.

Average days on the market decreased by 0% from 72 days on the market in April to 72 days on the market in May 2019. The May 2018 average days on the market were 69, a 4.3% increase in market time from last year.

Currently, there are 775 active homes for sale in the Lake Norman MLS area, up .1% from May. The average list price is $801,362 down 1.2% from the May average list price of $811,386. The average days on the market are 140.  There are 382 Lake Norman homes currently under contract, down 9.7% from May. Based on this data we are currently in a seller’s market, 3.2 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In May 2019 26 condos/townhomes sold in the Lake Norman area, a 27.8% decrease from the 36 condos or townhomes sold in April 2019. May 2019 sales figures decreased 16.1% from May 2018 when 31 Lake Norman condos sold.

The average sales price decreased by 4.4% from $264,580 in April to $252,906 in May 2019. The May 2019 average sales price increased 11.4% from the May 2018 average sales price which was $226,931.

Average days on the market decreased by 29.8% from 57 in April to 40 in May 2019. The May 2018 average days on the market were 25, a  60% increase in market time from one year ago.

Currently, there are 94 active condo/townhome listings for sale in the Lake Norman MLS area, a 5.6% increase from the 89 active condos for sale in May. The average list price is $392,279, up 28.9% from May’s average list price of $304,400. The average days on the market are 84. There are 57 Lake Norman condos/townhomes currently under contract, a 28.9% increase from May. Based on this months data we are currently in seller’s market, only 3.6 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In May 2019 26 lots sold in the Lake Norman area, a 23.8% increase from the 21 lots sold in April 2019. May 2019 sales figures increased 36.8% from May 2018 when 19 Lake Norman lots sold.

The average sales price decreased by 4.1% from $167,876 in April to $161,040 in May 2019. The May 2019 average sales price increased 48.4% from the May 2018 average sales price which was $108,517.

Average days on the market increased by 32.3% from 155 in April to 205 in May 2019. The May 2018 average days on the market were 273, a 25% decrease in market time versus the same time period last year.

Currently, there are 556 active lot listings for sale in the Lake Norman MLS area, an increase of 1.1% from May. The average list price is $304,208, up 2.6% from May’s average list price of $296,583. The average days on the market are 422. There are 67 Lake Norman area lots currently under contract, an 11.7% increase from May. Based on this data, 6 months of inventory, we are in a balanced market for Lake Norman lots & land.

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Lake Norman Waterfront Real Estate Update April 2019

Lake Norman Waterfront Real Estate Update April 2019

Lake Norman Waterfront Homes

In April 2019 39 waterfront homes sold in the Lake Norman area, a 95% increase from the 20 Lake Norman waterfront homes sold in March 2019. April 2019 Lake Norman waterfront home sales figures decreased 13.3% from April 2018 when 45 Lake Norman waterfront homes sold.

The average sales price increased by 34.8% from $832,913 in March to $1,122,648 in April 2019. The April 2019 average sales price decreased 4.9% from the April 2018 average sales price which was $1,180,370.

Average days on the market decreased from 146 in March to 98 in April 2019, a 32.9% decrease in market time. The April 2018 average days on the market were 109, a 10.1% decrease in market time from one year ago.

Currently, there are 291 active Lake Norman waterfront homes listed in the MLS, up 6.2% from April. There are 91 Lake Norman waterfront homes under contract, up 2.2% from April. The average list price of active listings is $1,303,852 up .6% from April’s average list price of $1,296,111. 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, 2.7 months of inventory, we are currently in a seller’s market for Lake Norman waterfront homes.

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Lake Norman Waterfront Condos & Townhomes

In April 2019 8 waterfront condos or townhomes sold in the Lake Norman area, a 42.9% decrease from the 14 Lake Norman waterfront condos sold in March 2019. April 2019 sales figures decreased 20% from April 2018 when 10 Lake Norman waterfront condos sold.

The average sales price increased by 41.1% from $265,536 in March to $374,750 in April 2019. The April 2019 average sales price increased 2% from the April 2018 average sales price which was $367,250.

Average days on the market increased by 81.8% from 55 in March to 100 days on the market in April 2019. The April 2018 average days on the market were 44 a 127% increase in market time from one year ago.

Currently there are 38 active Lake Norman waterfront condos listed in the MLS, a 0% increase in active inventory from April. There are 14 Lake Norman waterfront condos under contract, up 40% from April. The average list price of active listings is $338,584, up 1.9% from last months average list price of $332,208. The lowest priced active Lake Norman waterfront condo is listed at $192,000 and the highest priced active Lake Norman waterfront condo is listed at $1,025,000. Based on this data, 2.7 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 April 2019 8 waterfront lots sold in the Lake Norman area, a 60% increase from the 5 Lake Norman waterfront lots sold in March 2019. April 2019 sales figures increased 14.3% from April 2018 when 7 Lake Norman waterfront lots sold.

The average sales price in April 2019 was $305,688, down 5.4% from the March 2019 average sales price which was $323,000. The April 2019 average sales price decreased 5.1% from the April 2018 average sales price of $321,957.

The average days on the market increased by 158% from 40 days in March to 103 days on the market in April 2019. Days on the market were down 62.7% from April 2018 when the average was 276 days on the market.

Currently, there are 223 active Lake Norman waterfront lots listed in the MLS, up 3.7% from April. There are 19 Lake Norman waterfront lots under contract, down 0% from April. The average list price is $474,607, up 6.6% 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. Based on this data, 9.3 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 April 2019

Lake Norman Real Estate Update April 2019

Lake Norman Homes

In April 2019 189 homes sold in the Lake Norman area,  a 15.2% increase from the 164 homes sold in March 2019. The April 2019 sales figures increased 8% from April 2018  when 175 homes sold in the Lake Norman real estate market.

The average sales price increased by 25.4% from $452,587 in March to $567,567 in April 2019. The April 2019 average sales price decreased 3.2% from the April 2018 average sales price which was $586,585.

Average days on the market decreased by 14.1% from 85 days on the market in March to 73 days on the market in April 2019. The April 2018 average days on the market were 77, a 5.2% decrease in market time from last year.

Currently, there are 774 active homes for sale in the Lake Norman MLS area, up 1.2% from April. The average list price is $811,386 up 3.1% from the April average list price of $787,354. The average days on the market are 142.  There are 423 Lake Norman homes currently under contract, up 2.2% from April. 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 April 2019 36 condos/townhomes sold in the Lake Norman area, a 0% increase from the 36 condos or townhomes sold in March 2019. April 2019 sales figures increased 62.6% from April 2018 when 22 Lake Norman condos sold.

The average sales price increased by 15.6% from $228,899 in March to $264,580 in April 2019. The April 2019 average sales price decreased 5.4% from the April 2018 average sales price which was $279,788.

Average days on the market increased by 26.7% from 45 in March to 57 in April 2019. The April 2018 average days on the market were 40, a  42.5% increase in market time from one year ago.

Currently, there are 89 active condo/townhome listings for sale in the Lake Norman MLS area, a 3.5% increase from the 86 active condos for sale in April. The average list price is $304,400, down 9.2% from April’s average list price of $335,245. The average days on the market are 87. There are 44 Lake Norman condos/townhomes currently under contract, a 12% decrease from April. Based on this months data we are currently in seller’s market, only 1.1 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In April 2019 21 lots sold in the Lake Norman area, a 40% increase from the 15 lots sold in March 2019. April 2019 sales figures decreased 43.2% from April 2018 when 37 Lake Norman lots sold.

The average sales price increased by 8.3% from $155,067 in March to $167,876 in April 2019. The April 2019 average sales price increased 38.4% from the April 2018 average sales price which was $121,321.

Average days on the market decreased by 14.8% from 182 in March to 155 in April 2019. The April 2018 average days on the market were 294, an 47.3% decrease in market time versus the same time period last year.

Currently, there are 550 active lot listings for sale in the Lake Norman MLS area, a decrease of 1.4% from April. The average list price is $296,583, up 6.1% from April’s average list price of $279,601. The average days on the market are 427. There are 60 Lake Norman area lots currently under contract, a 6.3% decrease from April. Based on this data, 6.8 months of inventory, we are in a balanced market for Lake Norman lots & land.

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