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Lake Norman Condo Market Update November 2016

Lake Norman condo market
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Lake Norman Condo Market Update November 2016

Lake Norman Condos & Townhomes
In November 40 condos/townhomes sold in the Lake Norman area, a 29% increase from the 31 condos or townhomes sold in October and the highest total condos sold in November on record. November 2016 sales figures increased 73.9% from November 2015 when 23 Lake Norman condos sold.

The average sales price increased 10.8% from $215,834 in October to $239,094 in November. The November 2016 average sales price increased 14.4% from the November 2015 average sales price which was $209,020.

Average days on the market decreased 42.9% from 63 in October to 36 in November. The November 2015 average days on the market were 56, a 35.7% decrease in market time.

Currently there are 40 active condo/townhome listings for sale in the Lake Norman MLS area, a 15% decrease from the 47 condos for sale in November. The average list price is $278,620, down 2.9% from November’s average list price of $286,849. The average days on the market are 100. 20 Lake Norman condos/townhomes are currently under contract, a 44% decrease from November.

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


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