Lake Norman Real Estate Market Update November 2011

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Lake Norman Homes
In November 2011 76 homes sold in the Lake Norman area, a 12.6% decrease from the 87 homes sold in October 2011. November 2011 sales figures increased 5.6% from November 2010 when 72 homes sold in the Lake Norman area.
The average sales price decreased 20.5% from $461,808 in October 2011 to $367,233 in November 2011. The November 2011 average sales price decreased 34.6% from the November 2010 average sales price which was $561,849.
Average days on the market decreased 19.5% from 185 days in October 2011 to 149 days on the market in November 2011. November 2010 average days on the market were 177, an 15.7% increase in market time.
Currently there are 952 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath with 3,345 square feeet and an average list price of $624,246 up .3% from the October average list price of $622,205. The average days on the market are 180. 135 Lake Norman homes are currently under contract, up 17% from October!

Lake Norman Condos & Townhomes
In November 2011 14 condos/townhomes sold in the Lake Norman area, a 26.3% decrease from the 19 condos or townhomes sold in October 2011. November 2011 sales figures increased 133.3% from November 2010 when 6 condos sold.
The average sales price decreased 12% from $175,200 in October 2011 to $154,075 in November 2011. November 2011 average sales price decreased 32.5% from the November 2010 average sales price which was $228,167.
Average days on the market increased 38.4% from 138 in October to 191 in November . November 2010 average days on the market were 120.
Currently there are 174 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,401 square feeet and an average list price of $216,040, down .9% from October’s average list price of $217,907. The average days on the market are 181. 23 Lake Norman condos/townhomes are currently under contract, a 4.2% decrease from October.

Lake Norman Lots
In November 2011 12 lots sold in the Lake Norman area, a 0% increase from the 12 lots sold in October 2011. November 2011 sales figures increased 50% from November 2010 when 8 lots sold.
The average sales price increased 90.6% from $106,025 in October 2011 to $202,041 in November 2011. November 2011 average sales price increased 27.5% from the November 2010 average sales price which was $158,490.
Average days on the market decreased 21% from 396 in October 2011 to 313 in November 2011. November 2010 average days on the market were 345, a 9.3% decrease in market time vesus the same time period last year.
Currently there are 1062 lots for sale in the Lake Norman MLS area. The average list price is $155,742, down 1.2% from October’s average list price of $157,599. The average days on the market are 457. 33 Lake Norman area lots are currently under contract, a 13.2% decrease from October.

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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