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Lake Norman Condo Market Update August 2017

Lake Norman Condo Market Update
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Lake Norman Condo Market Update August 2017

Lake Norman Condos & Townhomes
In August 2017 30 condos/townhomes sold in the Lake Norman area, a 28.6% decrease from the 42 condos or townhomes sold in July 2017. August 2017 sales figures increased 7.1% from August 2016 when 28 Lake Norman condos sold.

The average sales price decreased 7.9% from $240,202 in July to $221,343 in August. The August 2017 average sales price increased 5% from the August 2016 average sales price which was $210,724.

Average days on the market decreased 31% from 58 in July to 40 in August. The August 2016 average days on the market were 63, a 36.5% decrease in market time.

Currently there are 38 active condo/townhome listings for sale in the Lake Norman MLS area, a 15.2% increase from the 33 active condos for sale in August. The average list price is $267,710, down .2% from August’s average list price of $268,185. The average days on the market are 71. 39 Lake Norman condos/townhomes are currently under contract, a 27.8% decrease from August. Based on this months data we are currently in a sellers market, only 1.3 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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