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Lake Norman Waterfront Condo Market Update December 2017

Lake Norman waterfront condo market update

Lake Norman Waterfront Condo Market Update December 2017

Lake Norman Waterfront Condos & Townhomes
In December 2017 8 waterfront condos or townhomes sold in the Lake Norman area, a 0% decrease from the 8 Lake Norman waterfront condos sold in November 2017. December 2017 sales figures decreased 0% from December 2016 when 8 Lake Norman waterfront condos sold.

The average sales price decreased 15% from $297,800 in November to $253,125 in December. The December 2017 average sales price increased 4.5% from the December 2016 average sales price which was $242,256.

Average days on the market increased 38.3% from 29 in November to 47 days on the market in December. The December 2016 average days on the market were 70, a 32.9% decrease in market time from one year ago.

Currently there are 13 active Lake Norman waterfront condos listed in the MLS with 5 also under contract, a 23.5% decrease in active inventory from December. The average list price is $421,238, up 5.4% from last month. The lowest priced active Lake Norman waterfront condo is listed at $209,000 and the highest priced active Lake Norman waterfront condo is listed at $925,000.

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Lake Norman Condo Market Update December 2017

Lake Norman Condo Market Update

Lake Norman Condo Market Update December 2017

Lake Norman Condos & Townhomes
In December 2017 32 condos/townhomes sold in the Lake Norman area, a 3% decrease from the 33 condos or townhomes sold in November 2017. December 2017 sales figures increased 28% from December 2016 when 25 Lake Norman condos sold.

The average sales price increased 3% from $223,304 in November to $229,978 in December. The December 2017 average sales price increased 18% from the December 2016 average sales price which was $194,902.

Average days on the market increased 0% from 31 in November to 31 in December. The December 2016 average days on the market were 49, a 36.7% decrease in market time.

Currently there are 27 active condo/townhome listings for sale in the Lake Norman MLS area, a 10% decrease from the 30 active condos for sale in December. The average list price is $328,368, up 1.8% from December’s average list price of $322,710. The average days on the market are 76. 34 Lake Norman condos/townhomes are currently under contract, a 12.8% decrease from December. Based on this months data we are currently in a sellers market, only .8 months of inventory, in the Lake Norman condo market.

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