Lake Norman Real Estate Market Update September 2011

Lake Norman Homes
In September 2011 80 homes sold in the Lake Norman area, a 24.5% decrease from the 106 homes sold in August 2011. September 2011 sales figures increased 11.1% from September 2010 when 72 homes sold in the Lake Norman area.

The average sales price increased 18.1% from $441,007 in August 2011 to $520,975 in September 2011. The September 2011 average sales price increased 28.4% from the September 2010 average sales price which was $405,884.

Average days on the market increased 7% from 157 days in August 2011 to 168 days on the market in September 2011. September 2010 average days on the market were 154, a 9% increase in market time.

Currently there are 1160 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath with 3,340 square feeet and an average list price of $612,961 down 2.1% from the August average list price of $625,872. The average days on the market are 163. 180 Lake Norman homes are currently under contract, up 50% from August!

Lake Norman Condos & Townhomes
In September 2011 19 condos/townhomes sold in the Lake Norman area, a 18.75% increase from the 16 condos or townhomes sold in August 2011. September 2011 sales figures increased 11.8% from September 2010 when 17 condos sold.

The average sales price increased 18.9% from $139,125 in August 2011 to $165,459 in September 2011. September 2011 average sales price decreased 9.7% from the September 2010 average sales price which was $183,331.

Average days on the market decreased 23.3% from 163 in August to 125 in September. September 2010 average days on the market were 146.

Currently there are 206 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,392 square feeet and an average list price of $214,404, up 1.6% from August ‘s average list price of $211,113. The average days on the market are 152. 29 Lake Norman condos/townhomes are currently under contract, a 38.1% increase from August.

Lake Norman Lots
In September 2011 9 lots sold in the Lake Norman area, a 55% decrease from the 20 lots sold in August 2011. September 2011 sales figures increased 125% from September 2010 when 4 lots sold.

The average sales price increased 45.9% from $97,695 in August 2011 to $142,555 in September 2011. September 2011 average sales price increased 226.9% from the September 2010 average sales price which was $43,612.

Average days on the market decreased 54.5% from 213 in August 2011 to 97 in September 2011. September 2010 average days on the market were 226, a 57% decrease in market time vesus the same time period last year.

Currently there are 1274 lots for sale in the Lake Norman MLS area. The average list price is $161,343, down 1.8% from August ‘s average list price of $164,376. The average days on the market are 405. 45 Lake Norman area lots are currently under contract, a 95.6% increase from August!

If you would like to search for Lake Norman properties for sale please visit our website: Search Lake Norman Real Estate Listings