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Lake Norman Condo Market Update October 2018

Lake Norman Condo Market Update
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Lake Norman Condo Market Update October 2018

Lake Norman Condos & Townhomes

In October 2018 37 condos/townhomes sold in the Lake Norman area, a 23.3% increase from the 30 condos or townhomes sold in September 2018. October 2018 sales figures increased 42.3% from October 2017 when 26 Lake Norman condos sold.

The average sales price increased 2.3% from $262.965 in September to $269,050 in October. The October 2018 average sales price increased 19.3% from the October 2017 average sales price which was $225,436

Average days on the market increased 31.6% from 38 in September to 50 in October. The October 2017 average days on the market were 30, an 66.7% increase in market time from one year ago.

Currently there are 70 active condo/townhome listings for sale in the Lake Norman MLS area, a 6.1% increase from the 66 active condos for sale in October. The average list price is $367,791, down 6.4% from October’s average list price of $392,781. The average days on the market are 95. There are 62 Lake Norman condos/townhomes currently under contract, a 34.7% decrease from October. Based on this months data we are currently in a sellers market, only 1.9 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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