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Lake Norman Waterfront Condo Market Year In Review 2016

Lake Norman waterfront condo update

2016 Lake Norman Waterfront Condo Market Review

Lake Norman Waterfront Condos

Total Lake Norman waterfront condo sales decreased  17.6% in 2016 with a total of 98 units sold. This decrease can be attributed to low inventory and sellers holding onto their condos for longer then previously.

The average sales price had a moderate decrease (5.6%) from the 2015 average sales price. This price decrease is because of less luxury/high-end condos being listed then in previous years.

The median sales price stayed the same as 2015, $230,000. I don’t put much stock in median sales prices as it is just the middle condo sold (#49) and does not account for location, size, etc..

The average price per square foot had a slight increase (2%) from the 2015 average price per square foot. The 2016 average price per square foot, $207, was the highest since 2010.

The average days on the market in 2016 increased significantly (20%) from the 2015 average days on the market.

The percentage of original list price increased from 94.6% to 97%. Lower inventory made competition for Lake Norman condos very strong with many receiving multiple offers.

Overall, the Lake Norman waterfront condo market had a mixed year with price increases and a longer market time. We expect this trend to continue through 2017 with modest gains in number of sales and average sales price. We will likely see increased buyer traffic with more Baby Boomers looking to downsize or to eliminate the maintenance that owning a home requires. We also expect to see Millennials entering the market and those that had a foreclosure during the crash of 2008 to reenter the market as well.

If you would like to stay updated on the Lake Norman real estate market sign up for free market reports on our website LakeNormanHomePrices.com and you will receive automatic email updates on new listings and sold listings in the Lake Norman area.

Davidson Landing Lake Norman Condos

Davidson Landing CondosDavidson Landing condos

Lake Norman condos for sale in the Davidson Landing complex on Lake Norman. Condos currently for sale in Davidson Landing. Page updates daily, bookmark this page or sign up for free condo listing updates from the MLS – free automatic email alert of condos for sale and price changes.

View all Davidson condos for sale. Note – only condos in Davidson Landing are on the Lake Norman side of I77, all others are on Lake Davidson, Cornelius Lake or in communities off water.

Davidson Landing condos

Listings 1 - 13 of 13

859 Southwest Drive -- 3 BR, 2 BA
Price: $365,000 (1318 sqft)
Complex: Stone Bluff
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Wilkinson ERA Real | MLS # 3329291 | Contract
1233 Torrence Circle -- 3 BR, 2 BA
Price: $339,000 (1372 sqft)
Complex: Newport
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Allen Tate Lake Norman | MLS # 3272074 | Active
1208 Torrence Circle -- 3 BR, 2 BA
Price: $335,000 (1358 sqft)
Complex: Newport
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Wilkinson ERA Real | MLS # 3315340 | Active
844 Southwest Drive -- 3 BR, 2 BA
Price: $310,000 (1155 sqft)
Complex: Stone Bluff
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Wilkinson ERA Real | MLS # 3276733 | Active
1142 Torrence Circle -- 3 BR, 2 BA
Price: $294,900 (1500 sqft)
Complex: South Harbortowne
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Keller Williams Lake | MLS # 3244186 | Contract
1135 Torrence Circle -- 3 BR, 2 BA
Price: $282,500 (1235 sqft)
Complex: Captains Watch
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Wilkinson ERA Real | MLS # 3327278 | Active
1126 Torrence Circle -- 3 BR, 2 BA
Price: $275,000 (1412 sqft)
Complex: South Harbortowne
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Keller Williams Lake | MLS # 3283947 | Active
1045 Southwest Drive -- 2 BR, 2 BA
Price: $269,900 (1155 sqft)
Complex: South Harbortowne
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Do Good Real Estate | MLS # 3306482 | Active
931 Southwest Drive -- 2 BR, 2 BA
Price: $250,000 (950 sqft)
Complex: Southpoint
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Wilkinson ERA Real | MLS # 3331829 | Contract
754 Southwest Drive -- 2 BR, 2 BA
Price: $200,000 (985 sqft)
Complex: Tennis Villas
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RE/MAX Metro Realty | MLS # 3327662 | Active
327 Northwest Drive -- 2 BR, 2 BA
Price: $189,900 (862 sqft)
Complex: Edgewater
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Wilkinson ERA Real | MLS # 3326178 | Active
219 Northwest Drive -- 2 BR, 1 BA
Price: $165,000 (737 sqft)
Complex: Harborwatch
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Wilkinson ERA Real | MLS # 3302987 | Contract
234 Northwest Drive -- 2 BR, 1 BA
Price: $159,500 (732 sqft)
Complex: Harborwatch
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Wilkinson ERA Real | MLS # 3331761 | Contract

Listings 1 - 13 of 13