Lake Norman Real Estate Market Update
Lake Norman Homes
In December 2012 92 Lake Norman homes sold in the Lake Norman area, a 8.9% decrease from the 101 Lake Norman homes sold in November. December 2012 sales figures increased 35.3% from December 2011 when 68 homes sold in the Lake Norman area.
The average sales price increased 2.3% from $433,645 in November to $443,439 in December. The December 2012 average sales price increased 3.1% from the December 2011 average sales price which was $430,300.
Average days on the market increased 11.9% from 126 days in November to 141 days on the market in December. December 2011 average days on the market were 185, a 23.8% decrease in market time.
Currently there are 784 Lake Norman homes for sale in the Lake Norman MLS area, an 8.5 months supply of housing inventory. The average home is a 3 bed/3 bath with 3,510 square feeet and an average list price of $686,911 up .5% from the November average list price of $683,404. The average days on the market are 183. 82 Lake Norman homes, or 9.6%, are currently under contract.
Lake Norman Condos & Townhomes
In December 2012 14 Lake Norman condos/townhomes sold in the Lake Norman area, a 26.3% decrease from the 19 Lake Norman condos or townhomes sold in November 2012. December 2012 sales figures decreased 12.5% from December 2011 when 16 Lake Norman condos sold.
The average sales price increased 14.5% from $172,028 in November 2012 to $196,932 in December 2012. December 2012 average sales price increased 14.8% from the December 2011 average sales price which was $171,553.
Average days on the market increased 52.4% from 82 in November to 125 in December. December 2011 average days on the market were 111.
Currently there are 103 Lake Norman condo/townhomes for sale in the Lake Norman MLS area, a 7.4 month supply of condo inventory. The average unit is a 2 bed/2 bath home with 1,449 square feet and an average list price of $216,797, down 5% from November’s average list price of $228,159. The average days on the market are 181. 16 Lake Norman condos/townhomes, or 6.4%, are currently under contract.
Lake Norman Lots
In December 2012 23 Lake Norman lots sold, a 0% increase from the 23 Lake Norman lots sold in November. December 2012 sales figures increased 155.6% from November 2011 when 9 lots sold.
The average sales price decreased 2.4% from $133,826 in November to $130,652 in December. December 2012 average sales price decreased 40.9.8% from the December 2011 average sales price which was $221,006.
Average days on the market increased 77.8% from 207 in November to 368 in December. December 2011 average days on the market were 267, a 37.8% increase in market time versus the same time period last year.
Currently there are 867 lots for sale in the Lake Norman MLS area, a 37.7 month supply of Lake Norman land. The average list price is $181,922, up .4% from November’s average list price of $181,207. The average days on the market are 452. 18 Lake Norman lots, or 2.1%, are currently under contract.
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