Lake Norman Real Estate Market Update March 2012

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Lake Norman Homes
In March 2012 80 homes sold in the Lake Norman area, a 31.1% increase from the 61 homes sold in February. March 2012 sales figures increased 5.3% from March 2011 when 76 homes sold in the Lake Norman area.

The average sales price increased 15.5% from $464,026 in February to $536,068 in March. The March 2012 average sales price increased 10.2% from the March 2011 average sales price which was $486,445.

Average days on the market increased 30.2% from 136 days in February to 177 days on the market in March. March 2011 average days on the market were 212, a 16.5% decrease in market time.

Currently there are 758 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath with 3,375 square feeet and an average list price of $637,223 down .9% from the February average list price of $643,099. The average days on the market are 167. 92 Lake Norman homes are currently under contract, up 70.4% from February!

Lake Norman Condos & Townhomes
In March 2012 6 condos/townhomes sold in the Lake Norman area, a 40% decrease from the 10 condos or townhomes sold in February 2012. March 2012 sales figures decreased 57.1% from March 2011 when 14 Lake Norman condos sold.

The average sales price decreased 35.2% from $198,450 in February 2012 to $128,667 in March 2012. March 2012 average sales price decreased 33.7% from the March 2011 average sales price which was $193,914.

Average days on the market decreased 22.8% from 189 in February to 146 in March. March 2011 average days on the market were 138.

Currently there are 120 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,409 square feet and an average list price of $226,344, down 1.2% from February’s average list price of $229,081. The average days on the market are 151. 7 Lake Norman condos/townhomes are currently under contract, a 0% increase from February.

Lake Norman Lots
In March 2012 16 lots sold in the Lake Norman area, a 27.3% decrease from the 22 lots sold in February. March 2012 sales figures increased 0% from March 2011 when 16 lots sold.

The average sales price increased 85.3% from $76,497 in February to $141,775 in March. March 2012 average sales price decreased 16.5% from the March 2011 average sales price which was $169,711.

Average days on the market increased 15.4% from 332 in February to 383 in March. March 2011 average days on the market were 393, a 2.5% decrease in market time vesus the same time period last year.

Currently there are 1103 lots for sale in the Lake Norman MLS area. The average list price is $143,023, down 5% from February’s average list price of $150,528. The average days on the market are 338. 36 Lake Norman area lots are currently under contract, a 28.6% increase from February.

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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