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Lake Norman Real Estate Market Update For October 2012

//Lake Norman Real Estate Market Update For October 2012

Lake Norman Real Estate Market Update For October 2012

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Lake Norman Homes
In October 2012 92 Lake Norman homes sold in the Lake Norman area, a 3.2% decrease from the 95 Lake Norman homes sold in September. October 2012 sales figures increased 5.8% from October 2011 when 87 homes sold in the Lake Norman area.

The average sales price increased 21.6% from $422,760 in September to $513,880 in October. The October 2012 average sales price increased 11.3% from the October 2011 average sales price which was $461,808.

Average days on the market increased 8.3% from 120 days in September to 130 days on the market in October. October 2011 average days on the market were 170, a 23.5% decrease in market time.

Currently there are 804 Lake Norman homes for sale in the Lake Norman MLS area, an 8.7 months supply of housing inventory. The average home is a 3 bed/3 bath with 3,387 square feeet and an average list price of $624,027 down .4% from the September average list price of $626,468. The average days on the market are 174. 121 Lake Norman homes, or 15%, are currently under contract.

Lake Norman Condos & Townhomes
In October 2012 15 Lake Norman condos/townhomes sold in the Lake Norman area, a 6.25% decrease from the 16 Lake Norman condos or townhomes sold in September 2012. October 2012 sales figures decreased 11.8% from October 2011 when 17 Lake Norman condos sold.

The average sales price increased 9.1% from $185,943 in September 2012 to $202,861 in October 2012. October 2012 average sales price increased 11.3% from the October 2011 average sales price which was $182,322.

Average days on the market decreased 4% from 126 in September to 121 in October. October 2011 average days on the market were 128.

Currently there are 98 Lake Norman condo/townhomes for sale in the Lake Norman MLS area, a 6.5 month supply of condo inventory. The average unit is a 2 bed/2 bath home with 1,393 square feet and an average list price of $215,819, down .6% from September’s average list price of $217,060. The average days on the market are 169. 6 Lake Norman condos/townhomes, or 6%, are currently under contract.

Lake Norman Lots
In October 2012 17 Lake Norman lots sold, a 19.1% decrease from the 21 Lake Norman lots sold in September. October 2012 sales figures increased 41.7% from October 2011 when 12 lots sold.

The average sales price decreased 13.8% from $172,280 in September to $148,551 in October. October 2012 average sales price increased 40% from the October 2011 average sales price which was $106,025.

Average days on the market increased 60.4% from 207 in September to 332 in October. October 2011 average days on the market were 395, a 16% decrease in market time vesus the same time period last year.

Currently there are 1004 lots for sale in the Lake Norman MLS area, a 59 month supply of Lake Norman land. The average list price is $162,028, down 4.2% from September’s average list price of $169,137. The average days on the market are 417. 23 Lake Norman lots, or 2.3%, are currently under contract.

If you would like to search for Lake Norman properties for sale please visit our website: Search Lake Norman Real Estate Listings


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By |2012-11-28T13:42:16+00:00November 14th, 2012|Market Updates|0 Comments

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