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Lake Norman Condo Market Update March 2017

Lake Norman condo market
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Lake Norman Condo Market Update March 2017

Lake Norman Condos & Townhomes
In March 2017 43 condos/townhomes sold in the Lake Norman area, a 95.5% increase from the 22 condos or townhomes sold in February 2017 and tied the highest monthly sales total on record. March 2017 sales figures increased 48.3% from March 2016 when 29 Lake Norman condos sold.

The average sales price decreased 7.8% from $267,967 in February to $246,985 in March. The March 2017 average sales price increased 12.9% from the March 2016 average sales price which was $218,796.

Average days on the market increased 32% from 50 in February to 66 in March. The March 2016 average days on the market were 73, a 9.6% decrease in market time.

Currently there are 38 active condo/townhome listings for sale in the Lake Norman MLS area, an 11.8% increase from the 34 active condos for sale in March. The average list price is $283,688, up 4.4% from March’s average list price of $271,633. The average days on the market are 63. 38 Lake Norman condos/townhomes are currently under contract, a 15.5% decrease from March. Based on this months data we are currently in a sellers market, only .9 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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