Lake Norman Condo Market Update August 2016
Lake Norman Condo Market Update August 2016
Lake Norman Condos & Townhomes
In August 27 condos/townhomes sold in the Lake Norman area, an 15.6% decrease from the 32 condos or townhomes sold in July. August 2016 sales figures decreased 18.2% from August 2015 when 33 Lake Norman condos sold.
The average sales price decreased 6.2% from $226,502 in July to $212,418 in August. The August 2016 average sales price increased .3% from the August 2015 average sales price which was $211,819.
Average days on the market increased 58.5% from 41 in July to 65 in August. The August 2015 average days on the market were 60, an 8.3% increase in market time.
Currently there are 57 active condo/townhome listings for sale in the Lake Norman MLS area, a 16.2% decrease from the 68 condos for sale in August. The average list price is $261,034, up 1.2% from August’s average list price of $257,965. The average days on the market are 97. 51 Lake Norman condos/townhomes are currently under contract, a 10.9% increase from August.
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