March 2011 Lake Norman Waterfront Real Estate Market Update

Lake Norman Waterfront Homes
In March 2011 28 waterfront homes sold in the Lake Norman area, a 180% increase from the 10 waterfront homes sold in February 2011. March 2011 waterfront sales figures increased 75% from March 2010 when 16 waterfront homes sold in the Lake Norman area.

The average sales price increased 50% from $507,250 in February 2011 to $760,741 in March 2011. March 2011 average sales price increased 5% from the March 2010 average sales price which was $724,400.

Average days on the market decreased from 186 in February 2011 to 203 in March 2011, a 9% increase in market time. March 2010 average days on the market were 161, an 26% increase in market time.

Currently there are 452 Lake Norman waterfront homes listed in the MLS with 52 of those under contract, up 27% from February. The average list price is $1,036,470, up .3% from February. The lowest priced Lake Norman waterfront home is listed at $142,500 and the highest priced Lake Norman waterfront home is listed at $9,500,000.

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Lake Norman Waterfront Condos & Townhomes
In March 2011 4 waterfront condos sold in the Lake Norman area, a 300% decrease from the 1 waterfront condos sold in February 2011. March 2011 sales figures decreased 43% from March 2010 when 7 waterfront condos sold.

The average sales price decreased 27% from $302,000 in February 2011 to $220,225 in March 2011. March 2011 average sales price increased 14% from the March 2010 average sales price which was $192,428. 

Average days on the market increased from 34 in February 2011 to 102 in March 2011. March 2010 average days on the market were 259.

Currently there are 79 Lake Norman waterfront condos listed in the MLS with 6 of those under contract, a 50% increase from February. The average list price is $278,893, up 2.5% from last month. The lowest priced Lake Norman waterfront condo is listed at $124,900 and the highest priced Lake Norman waterfront condo is listed at $869,000.

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Lake Norman Waterfront Lots
In March 2011 7 waterfront lots sold in the Lake Norman area, a 17% increase from the 6 waterfront lots sold in February 2011. The averge sales price was $322,197, up 49% from the February average sales price which was $216,450. March 2011 sales figures increased 250% from March 2010 when 2 Lake Norman waterfront lots sold. The average sales price increased 120% from the March 2010 average sales price of $146,500.

Currently there are 305 Lake Norman waterfront lots listed in the MLS with 3 of those under contract. The average list price is $403,636, up 3% from last month. The lowest priced Lake Norman waterfront lot is listed at $21,000 and the highest priced Lake Norman waterfront lot is listed at $1,999,999.

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