Lake Norman Real Estate Market Update
Lake Norman Homes
In January 2013 73 Lake Norman homes sold in the Lake Norman area, a 20.7% decrease from the 92 Lake Norman homes sold in December 2012. January 2013 sales figures increased 52.1% from January 2012 when 48 homes sold in the Lake Norman area.
The average sales price decreased 10.9% from $443,439 in December to $394,996 in January. The January 2013 average sales price increased 1% from the January 2012 average sales price which was $391,015.
Average days on the market increased 1.4% from 141 days in December to 143 days on the market in January. January 2012 average days on the market were 145, a 1.4% decrease in market time.
Currently there are 660 Lake Norman homes for sale in the Lake Norman MLS area, a 9 months supply of housing inventory. The average home is a 3 bed/3 bath with 3,493 square feet and an average list price of $679,370 down 1.1% from the December average list price of $686,911. The average days on the market are 173. 101 Lake Norman homes, or 15.3%, are currently under contract.
Lake Norman Condos & Townhomes
In January 2013 15 Lake Norman condos/townhomes sold in the Lake Norman area, a 7.1% increase from the 14 Lake Norman condos or townhomes sold in December 2012. January 2013 sales figures increased 50% from January 2012 when 10 Lake Norman condos sold.
The average sales price decreased 19.2% from $196,932 in December 2012 to $159,143 in January 2013. January 2013 average sales price decreased 4.6% from the January 2012 average sales price which was $166,765.
Average days on the market increased 41.6% from 125 in December to 177 in January. January 2012 average days on the market were 140.
Currently there are 84 Lake Norman condo/townhomes for sale in the Lake Norman MLS area, a 5.6 month supply of condo inventory. The average unit is a 2 bed/2 bath home with 1,446 square feet and an average list price of $218,096, up .6% from December’s average list price of $216,797. The average days on the market are 180. 9 Lake Norman condos/townhomes, or 10.7%, are currently under contract.
Lake Norman Lots
In January 2013 15 Lake Norman lots sold, a 34.8% decrease from the 23 Lake Norman lots sold in December 2012. January 2013 sales figures decreased 6.25% from January 2012 when 16 lots sold.
The average sales price decreased 12.4% from $130,652 in December to $114,500 in January. January 2013 average sales price decreased 44.6.8% from the January 2012 average sales price which was $206,500.
Average days on the market decreased 4.1% from 368 in December to 353 in January. January 2012 average days on the market were 604, a 41.6% decrease in market time versus the same time period last year.
Currently there are 730 lots for sale in the Lake Norman MLS area, a 48.7 month supply of Lake Norman land. The average list price is $194,411, up 6.9% from December’s average list price of $181,922. The average days on the market are 449. 19 Lake Norman lots, or 2.6%, are currently under contract.
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