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.
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