Lake Norman Real Estate Market Update For November 2012

Lake Norman Real Estate Market Update

Lake Norman Homes
In November 2012 101 Lake Norman homes sold in the Lake Norman area, a 9.8% increase from the 92 Lake Norman homes sold in October. November 2012 sales figures increased 24.8% from November 2011 when 76 homes sold in the Lake Norman area.

The average sales price decreased 15.6% from $513,880 in October to $433,645 in November. The November 2012 average sales price increased 18.2% from the November 2011 average sales price which was $366,937.

Average days on the market decreased 3.1% from 130 days in October to 126 days on the market in November. November 2011 average days on the market were 112, a 12.5% increase in market time.

Currently there are 850 Lake Norman homes for sale in the Lake Norman MLS area, an 8.3 months supply of housing inventory. The average home is a 3 bed/3 bath with 3,506 square feeet and an average list price of $683,404 up 9.5% from the October average list price of $624,027. The average days on the market are 196. 79 Lake Norman homes, or 9.3%, are currently under contract.

Lake Norman Condos & Townhomes
In November 2012 19 Lake Norman condos/townhomes sold in the Lake Norman area, a 26.7% increase from the 15 Lake Norman condos or townhomes sold in October 2012. November 2012 sales figures increased 46.2% from November 2011 when 13 Lake Norman condos sold.

The average sales price decreased 15.2% from $202,861 in October 2012 to $172,028 in November 2012. November 2012 average sales price increased 9.8% from the November 2011 average sales price which was $156,696.

Average days on the market decreased 32.2% from 121 in October to 82 in November. November 2011 average days on the market were 172.

Currently there are 119 Lake Norman condo/townhomes for sale in the Lake Norman MLS area, a 6.3 month supply of condo inventory. The average unit is a 2 bed/2 bath home with 1,410 square feet and an average list price of $228,159, up 5.7% from October’s average list price of $215,819. The average days on the market are 207. 20 Lake Norman condos/townhomes, or 16.8%, are currently under contract.

Lake Norman Lots
In November 2012 23 Lake Norman lots sold, a 35.3% increase from the 17 Lake Norman lots sold in October. November 2012 sales figures increased 91.7% from November 2011 when 12 lots sold.

The average sales price decreased 9.9% from $148,551 in October to $133,826 in November. November 2012 average sales price decreased 33.8% from the November 2011 average sales price which was $202,041.

Average days on the market decreased 37.7% from 332 in October to 207 in November. November 2011 average days on the market were 312, a 33.7% decrease in market time versus the same time period last year.

Currently there are 925 lots for sale in the Lake Norman MLS area, a 40 month supply of Lake Norman land. The average list price is $181,207, up 11.8% from October’s average list price of $162,028. The average days on the market are 468. 11 Lake Norman lots, or 1.2%, are currently under contract.

If you would like to search for Lake Norman real estate for sale please visit our search page: Search Lake Norman Real Estate Listings

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