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Lake Norman Waterfront Condo Market Update July 2017

Lake Norman waterfront condo market update

Lake Norman Waterfront Condo Market Update June 2017

Lake Norman Waterfront Condos & Townhomes
In July 2017 15 waterfront condos or townhomes sold in the Lake Norman area, a 36.4% increase from the 11 Lake Norman waterfront condos sold in June 2017. July 2017 sales figures increased 7.1% from July 2016 when 14 Lake Norman waterfront condos sold.

The average sales price decreased 8.1% from $315,805 in June to $290,380 in July. The July 2017 average sales price increased 15.7% from the July 2016 average sales price which was $250,893.

Average days on the market decreased 15% from 67 in June to 57 days on the market in July. The July 2016 average days on the market were 53, a 7.5% decrease in market time from one year ago.

Currently there are 11 active Lake Norman waterfront condos listed in the MLS with 13 also under contract, a 52.2% decrease in active inventory from July. The average list price is $316,573, down 6.1% from last month. The lowest priced active Lake Norman waterfront condo is listed at $169,900 and the highest priced active Lake Norman waterfront condo is listed at $470,000.

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Lake Norman Condo Market Update July 2017

Lake Norman Condo Market Update

Lake Norman Condo Market Update July 2017

Lake Norman Condos & Townhomes
In July 2017 42 condos/townhomes sold in the Lake Norman area, a 35.5% increase from the 31 condos or townhomes sold in June 2017. July 2017 sales figures decreased 31.3% from July 2016 when 32 Lake Norman condos sold.

The average sales price increased 3.8% from $231,302 in June to $240,202 in July. The July 2017 average sales price increased 6% from the July 2016 average sales price which was $226,502.

Average days on the market increased 28.9% from 45 in June to 58 in July. The July 2016 average days on the market were 41, a 41.5% increase in market time.

Currently there are 33 active condo/townhome listings for sale in the Lake Norman MLS area, a 21.4% decrease from the 42 active condos for sale in July. The average list price is $268,185, down 1.6% from July’s average list price of $272,612. The average days on the market are 62. 54 Lake Norman condos/townhomes are currently under contract, a 10.2% increase from July. Based on this months data we are currently in a sellers market, only .8 months of inventory, in the Lake Norman condo market.

Stay up to date on the Lake Norman real estate market with our FREE market updates: LakeNormanHomePrices.com

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