Lake Norman Condos

Lake Norman Condo Market Update December 2016

Lake Norman Condos & Townhomes
In December 2016 24 condos/townhomes sold in the Lake Norman area, a 40% decrease from the 40 condos or townhomes sold in November. December 2016 sales figures decreased 11.1% from December 2015 when 27 Lake Norman condos sold.

The average sales price decreased 19% from $239,094 in November to $193,606 in December. The December 2016 average sales price decreased 23.4% from the December 2015 average sales price which was $252,882.

Average days on the market increased 36.1% from 36 in November to 49 in December. The December 2015 average days on the market were 63, a 22.2% decrease in market time.

Currently there are 32 active condo/townhome listings for sale in the Lake Norman MLS area, a 20% decrease from the 40 active condos for sale in December. The average list price is $286,676, up 2.9% from December’s average list price of $278,620. The average days on the market are 102. 22 Lake Norman condos/townhomes are currently under contract, a 10% increase from December. Based on this months data we are currently in a sellers market, only 1.3 months of inventory, in the Lake Norman condo market.

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