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Lake Norman Real Estate Market Update For September 2012

//Lake Norman Real Estate Market Update For September 2012

Lake Norman Real Estate Market Update For September 2012

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Lake Norman Homes
In September 2012 95 Lake Norman homes sold in the Lake Norman area, a 19.5% decrease from the 118 Lake Norman homes sold in August. September 2012 sales figures increased 18.75% from September 2011 when 80 homes sold in the Lake Norman area.

The average sales price decreased 17.9% from $515,190 in August to $422,760 in September. The September 2012 average sales price decreased 18.9% from the September 2011 average sales price which was $520,975.

Average days on the market decreased 7.5% from 120 days in August to 111 days on the market in September. September 2011 average days on the market were 140, a 20.7% decrease in market time.

Currently there are 943 Lake Norman homes for sale in the Lake Norman MLS area, a 9.9 months supply of housing inventory. The average home is a 3 bed/3 bath with 3,377 square feeet and an average list price of $626,468 down 1.9% from the August average list price of $638,834. The average days on the market are 159. 155 Lake Norman homes, or 16.4%, are currently under contract.

Lake Norman Condos & Townhomes
In September 2012 16 Lake Norman condos/townhomes sold in the Lake Norman area, a 36% decrease from the 25 Lake Norman condos or townhomes sold in August 2012. September 2012 sales figures decreased 15.8% from September 2011 when 19 Lake Norman condos sold.

The average sales price decreased 10% from $206,696 in August 2012 to $185,943 in September 2012. September 2012 average sales price increased 12.4% from the September 2011 average sales price which was $165,459.

Average days on the market decreased 10.6% from 141 in August to 126 in September. September 2011 average days on the market were 90.

Currently there are 121 Lake Norman condo/townhomes for sale in the Lake Norman MLS area, a 7.6 month supply of condo inventory. The average unit is a 2 bed/2 bath home with 1,477 square feet and an average list price of $217,060, down 1% from August’s average list price of $219,105. The average days on the market are 141. 23 Lake Norman condos/townhomes, or 19%, are currently under contract.

Lake Norman Lots
In September 2012 21 Lake Norman lots sold, a 31.25% increase from the 16 Lake Norman lots sold in August. September 2012 sales figures increased 133% from September 2011 when 9 lots sold.

The average sales price increased 2.3% from $168,337 in August to $172,280 in September. September 2012 average sales price increased 20.9% from the September 2011 average sales price which was $142,555.

Average days on the market decreased 23.3% from 270 in August to 207 in September. September 2011 average days on the market were 96, a 115% increase in market time vesus the same time period last year.

Currently there are 1056 lots for sale in the Lake Norman MLS area, a 50 month supply of Lake Norman land. The average list price is $169,137, down .7% from August’s average list price of $170,353. The average days on the market are 381. 27 Lake Norman lots, or 2.6%, 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 |2012-10-16T16:19:02+00:00October 16th, 2012|Market Updates|0 Comments

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