Lake Norman Real Estate Market Update June 2011

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Lake Norman Homes
In June 2011 101 homes sold in the Lake Norman area, a 63% increase from the 62 homes sold in May 2011. June 2011 sales figures decreased 12% from June 2010 when 115 homes sold in the Lake Norman area.

The average sales price decreased 17% from $566,841 in May 2011 to $472,811 in June 2011. The June 2011 average sales price decreased 16% from the June 2010 average sales price which was $564,421.

Average days on the market decreased 2% from 158 days in May 2011 to 155 days on the market in June 2011. June 2010 average days on the market were 141, a 10% increase in market time.

Currently there are 1270 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath with 3,326 square feeet and an average list price of $619,256 down 2% from the May average list price of $631,409. The average days on the market are 156. 144 Lake Norman homes are currently under contract, up 24% from May.

Lake Norman Condos & Townhomes
In June 2011 17 condos/townhomes sold in the Lake Norman area, a 13% increase from the 15 condos or townhomes sold in May 2011. June 2011 sales figures increased 6% from June 2010 when 16 condos sold.

The average sales price decreased 20% from $240,264 in May 2011 to $193,273 in June 2011. June 2011 average sales price decreased 14% from the June 2010 average sales price which was $224,471. 

Average days on the market decreased 10% from 187 in May to 169 in June. June 2010 average days on the market were 189.

Currently there are 207 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,363  square feeet and an average list price of $215,083, down 1% from May’s average list price of $217,053. The average days on the market are 148. 18 Lake Norman condos/townhomes are currently under contract, a 64% increase from May.

Lake Norman Lots
In June 2011 12 lots sold in the Lake Norman area, an 40% decrease from the 20 lots sold in May 2011. June 2011 sales figures increased 140% from June 2010 when 5 lots sold.

The average sales price decreased 27% from $279,200 in May 2011 to $202,491 in June 2011. June 2011 average sales price increased 14% from the June 2010 average sales price which was $177,970.

Average days on the market increased 44% from 232 in May 2011 to 334 in June 2011. June 2010 average days on the market were 349, a 4% decrease in market time vesus the same time period last year.

Currently there are 1228 lots for sale in the Lake Norman MLS area. The average list price is $172,187, up 1% from May’s average list price of $170,062. The average days on the market are 409. 32 Lake Norman area lots are currently under contract, a 33% increase from May.

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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