Lake Norman Condo Market Update October 2017
Lake Norman Condo Market Update October 2017
Lake Norman Condos & Townhomes
In October 2017 26 condos/townhomes sold in the Lake Norman area, a 23.5% decrease from the 34 condos or townhomes sold in September 2017. October 2017 sales figures decreased 16.1% from October 2016 when 31 Lake Norman condos sold.
The average sales price decreased 9.4% from $248,802 in September to $225,436 in October. The October 2017 average sales price increased 4.4% from the October 2016 average sales price which was $215,834.
Average days on the market decreased 26.8% from 41 in September to 30 in October. The October 2016 average days on the market were 63, a 352.4% decrease in market time.
Currently there are 32 active condo/townhome listings for sale in the Lake Norman MLS area, a 15.8% decrease from the 38 active condos for sale in October. The average list price is $303,850, up 20.5% from October’s average list price of $252,080. The average days on the market are 87. 450 Lake Norman condos/townhomes are currently under contract, a 2% increase from October. Based on this months data we are currently in a sellers market, only 1.2 months of inventory, in the Lake Norman condo market.
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