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Lake Norman Waterfront Condo Market Update May 2018

Lake Norman waterfront condo market update

Lake Norman Waterfront Condo Market Update May 2018

Lake Norman Waterfront Condos & Townhomes

In May 2018 12 waterfront condos or townhomes sold in the Lake Norman area, a 20% increase from the 10 Lake Norman waterfront condos sold in April 2018. May 2018 sales figures decreased 20% from May 2017 when 15 Lake Norman waterfront condos sold.

The average sales price decreased 26.3% from $367,250 in April to $270,742 in May. The May 2018 average sales price increased 4.7% from the May 2017 average sales price which was $258,510.

Average days on the market decreased 18.2% from 44 in April to 36 days on the market in May. The May 2017 average days on the market were 54, a 33% decrease in market time from one year ago.

Currently there are 36 active Lake Norman waterfront condos listed in the MLS, a 50% increase in active inventory from May, with 16 also under contract, up 14.3% from May. The average list price is $385,847, up 11.4% from last months list price of $346,483. The lowest priced active Lake Norman waterfront condo is listed at $189,900 and the highest priced active Lake Norman waterfront condo is listed at $1,195,000.

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Lake Norman Condo Market Update May 2018

Lake Norman Condo Market Update

Lake Norman Condo Market Update May 2018

Lake Norman Condos & Townhomes

In May 2018 31 condos/townhomes sold in the Lake Norman area, a 41% increase from the 22 condos or townhomes sold in April 2018. May 2018 sales figures decreased 14% from May 2017 when 36 Lake Norman condos sold.

The average sales price decreased 19% from $279,788 in April to $226,931 in May. The May 2018 average sales price decreased .5% from the May 2017 average sales price which was $228,130.

Average days on the market decreased 38% from 40 in April to 25 in May. The May 2017 average days on the market were 54, a 54% decrease in market time from one year ago.

Currently there are 76 active condo/townhome listings for sale in the Lake Norman MLS area, a 15% increase from the 66 active condos for sale in May. The average list price is $389,247, up 5.8% from May’s average list price of $367,778. The average days on the market are 65. 70 Lake Norman condos/townhomes are currently under contract, a 15% increase from May. Based on this months data we are currently in a sellers market, only 2.5 months of inventory, in the Lake Norman condo market.

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