May 2010 Lake Norman Real Estate Market Update

Lake Norman Homes
In May 2010 101 homes sold in the Lake Norman area, a 38% increase over the 73 homes sold in April 2010. May 2010 sales figures increased 51% over May 2009 when 67 homes sold in the Lake Norman area.

The average sales price decreased 6% from $467,746 in April 2010 to $438,702 in May 2010. May 2010 average sales price increased 8% over the May 2009 average sales price which was $406,572.

Average days on the market decreased from 154 in April 2010 to 123 in May 2010. May 2009 average days on the market were 138, an 11% decrease in market time.

Lake Norman Condos & Townhomes
In May 2010 11 condos sold in the Lake Norman area, a 21% decrease from the 14 condos sold in April 2010. May 2010 sales figures increased 38% over May 2009 when only 8 condos sold.

The average sales price increased 5% from $179,278 in April 2010 to $188,354 in May 2010. May 2010 average sales price decreased 5.5% from the May 2009 average sales price which was $199,225. Two foreclosure sales and one short sale in May 2010 helped bring the average sales price down.

Average days on the market decreased from 94 in April to 73 in May. May 2009 average days on the market were 85.

Lake Norman Lots
In May 2010 14 lots sold in the Lake Norman area, a 0% increase over the 14 lots sold in April 2010. May 2010 sales figures increased 280% over May 2009 when only 5 lots sold.

The average sales price increased 81% from $78,887 in April 2010 to $142,642 in May 2010. May 2010 average sales price decreased 61% from the May 2009 average sales price which was $369,700.

Average days on the market decreased from 350 in April 2010 to 135 in May 2010. May 2009 average days on the market were 358, a 62% decrease in market time vesus the same time period last year.
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