Lake Norman Real Estate Market Update
Lake Norman Homes
In February 2013 70 Lake Norman homes sold in the Lake Norman area, a 4.1% decrease from the 73 Lake Norman homes sold in January 2013. February 2013 sales figures increased 22.8% from February 2012 when 57 homes sold in the Lake Norman area.
The average sales price increased 25.4% from $394,996 in January to $495,309 in February. The February 2013 average sales price increased 12.7% from the February 2012 average sales price which was $439,345.
Average days on the market decreased 3.5% from 143 days in January to 138 days on the market in February. February 2012 average days on the market were 140, a 1.4% decrease in market time.
Currently there are 862 Lake Norman homes for sale in the Lake Norman MLS area. 167 Lake Norman homes are currently under contract, 19.4% of the housing inventory, which leaves a 10 months supply of inventory. The average home is a 3 bed/3 bath with 3,463 square feet and an average list price of $653,544 down 3.8% from the January average list price of $679,370. The average days on the market are 143, down 30 days from last month.
Lake Norman Condos & Townhomes
In February 2013 9 Lake Norman condos/townhomes sold in the Lake Norman area, a 40% decrease from the 15 Lake Norman condos or townhomes sold in January 2013. February 2013 sales figures decreased 10% from February 2012 when 10 Lake Norman condos sold.
The average sales price decreased 8.3% from $159,143 in January 2013 to $145,941 in February 2013. February 2013 average sales price decreased 26.5% from the February 2012 average sales price which was $198,450.
Average days on the market decreased 46.3% from 177 in January to 95 in February. February 2012 average days on the market were 188.
Currently there are 110 Lake Norman condos/townhomes for sale in the Lake Norman MLS area. 19 Lake Norman condos/townhomes, 17.3%, are currently under contract which leaves a 10 month supply of Lake Norman condo inventory. The average unit is a 2 bed/2 bath home with 1,483 square feet and an average list price of $218,249, up .07% from January’s average list price of $218,096. The average days on the market are 153.
Lake Norman Lots
In February 2013 21 Lake Norman lots sold, a 40% increase from the 15 Lake Norman lots sold in January 2013. February 2013 sales figures decreased 4.5% from February 2012 when 22 lots sold.
The average sales price decreased 24.2% from $114,500 in January to $86,804 in February. February 2013 average sales price increased 13.5% from the February 2012 average sales price which was $76,497.
Average days on the market decreased 6.5% from 353 in January to 330 in February. February 2012 average days on the market were 331, a .3% decrease in market time versus the same time period last year.
Currently there are 894 lots for sale in the Lake Norman MLS area. 54 Lake Norman lots are currently under contract, 6% of the market, leaving a 40 month supply of Lake Norman land. The average list price is $195,076, up .3% from January’s average list price of $194,411. The average days on the market are 431.
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