Lake Norman Condo Market Update May 2017
Lake Norman Condo Market Update May 2017
Lake Norman Condos & Townhomes
In May 2017 36 condos/townhomes sold in the Lake Norman area, a 12.5% increase from the 32 condos or townhomes sold in April 2017. May 2017 sales figures increased 28.6% from May 2016 when 28 Lake Norman condos sold.
The average sales price decreased 7.7% from $247,286 in April to $228,130 in May. The May 2017 average sales price increased 15.5% from the May 2016 average sales price which was $197,488.
Average days on the market increased 25.6% from 43 in April to 54 in May. The May 2016 average days on the market were 56, a 3.6% decrease in market time.
Currently there are 37 active condo/townhome listings for sale in the Lake Norman MLS area, a 30.2% decrease from the 51 active condos for sale in May. The average list price is $262,473, down 5.9% from May’s average list price of $278,794. The average days on the market are 65. 51 Lake Norman condos/townhomes are currently under contract, a 34% increase from May. Based on this months data we are currently in a sellers market, only 1 months of inventory, in the Lake Norman condo market.
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