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Lake Norman Condo Market Update November 2017

Lake Norman Condo Market Update
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Lake Norman Condo Market Update November 2017

Lake Norman Condos & Townhomes
In November 2017 33 condos/townhomes sold in the Lake Norman area, a 27% increase from the 26 condos or townhomes sold in October 2017. November 2017 sales figures decreased 17.5% from November 2016 when 40 Lake Norman condos sold.

The average sales price decreased 1% from $225,436 in October to $223,304 in November. The November 2017 average sales price decreased 6.6% from the November 2016 average sales price which was $239,094.

Average days on the market increased 3.3% from 30 in October to 31 in November. The November 2016 average days on the market were 36, a 13.9% decrease in market time.

Currently there are 30 active condo/townhome listings for sale in the Lake Norman MLS area, a 6.3% decrease from the 32 active condos for sale in November. The average list price is $322,710, up 6.2% from November’s average list price of $303,850. The average days on the market are 90. 39 Lake Norman condos/townhomes are currently under contract, a 13.3% decrease from November. Based on this months data we are currently in a sellers market, only .9 months of inventory, in the Lake Norman condo market.

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