Lake Norman Real Estate Market Update July 2011

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Lake Norman Homes
In July 2011 87 homes sold in the Lake Norman area, a 13.9% decrease from the 101 homes sold in June 2011. July 2011 sales figures increased 3.6% from July 2010 when 84 homes sold in the Lake Norman area.
The average sales price increased 8.1% from $472,811 in June 2011 to $511,116 in July 2011. The July 2011 average sales price decreased 5% from the July 2010 average sales price which was $537,866.
Average days on the market increased 16.8% from 155 days in June 2011 to 181 days on the market in July 2011. July 2010 average days on the market were 198, a 8.6% decrease in market time.
Currently there are 1099 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath with 3,382 square feeet and an average list price of $638,951 up3.2 2% from the June average list price of $619,256. The average days on the market are 167. 99 Lake Norman homes are currently under contract, down 31.25% from June.

Lake Norman Condos & Townhomes
In July 2011 11 condos/townhomes sold in the Lake Norman area, a 35.3% decrease from the 17 condos or townhomes sold in June 2011. July 2011 sales figures decreased 42.1% from July 2010 when 19 condos sold.
The average sales price increased 8.7% from $193,273 in June 2011 to $210,068 in July 2011. July 2011 average sales price decreased 2.6% from the July 2010 average sales price which was $215,563.
Average days on the market decreased 3% from 169 in June to 164 in July. July 2010 average days on the market were 205.
Currently there are 192 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,382 square feeet and an average list price of $ 212,198, down 1.3% from June’s average list price of $215,053. The average days on the market are 161. 19 Lake Norman condos/townhomes are currently under contract, a 5.6% increase from June.

Lake Norman Lots
In July 2011 12 lots sold in the Lake Norman area, a 0% decrease from the 12 lots sold in June 2011. July 2011 sales figures decreased 25% from July 2010 when 16 lots sold.
The average sales price decreased 37.1% from $202,491 in June 2011 to $127,333 in July 2011. July 2011 average sales price decreased 6.3% from the July 2010 average sales price which was $135,887.
Average days on the market increased 14.1% from 334 in June 2011 to 381 in July 2011. July 2010 average days on the market were 167, a 128% increase in market time vesus the same time period last year.
Currently there are 1159 lots for sale in the Lake Norman MLS area. The average list price is $167,811, down 2.5% from June’s average list price of $172,187. The average days on the market are 442. 24 Lake Norman area lots are currently under contract, a 25% decrease from June.

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


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