November 2010 Lake Norman Real Estate Market Update

Lake Norman Homes
In November 2010 73 homes sold in the Lake Norman area, a 12% increase from the 65 homes sold in October 2010. November 2010 sales figures increased 24% from November 2009 when 59 homes sold in the Lake Norman area.

The average sales price increased 9% from $512,183 in October 2010 to $556,014 in November 2010. The November 2010 average sales price increased 44% from the November 2009 average sales price which was $385,109.

Average days on the market increased 16% from 142 days in October 2010 to 165 days on the market in November 2010. November 2009 average days on the market were 72, a 129% increase in market time.

Currently there are 1226 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath home with 3,376 square feeet and an average list price of $638,115. The average days on the market are 169. 142 homes are currently under contract, down 12% from October.

Lake Norman Condos & Townhomes
In November 2010 6 condos sold in the Lake Norman area, a 33% decrease from the 9 condos sold in October 2010. November 2010 sales figures decreased 68% from November 2009 when 19 condos sold.

The average sales price increased 10% from $207,555 in October 2010 to $228,166 in November 2010. November 2010 average sales price decreased 1.5% from the November 2009 average sales price which was $231,671.

Average days on the market decreased 0% from 114 in October to 114 in November. November 2009 average days on the market were 76.

Currently there are 198 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,416 square feeet and an average list price of $221,802. The average days on the market are 163. 19 Lake Norman condos/townhomes are currently under contract, a 27% increase from October.

Lake Norman Lots
In November 2010 8 lots sold in the Lake Norman area, a 43% decrease from the 14 lots sold in October 2010. November 2010 sales figures increased 0% from November 2009 when 8 lots sold.

The average sales price increased 19% from $133,104 in October 2010 to $158,490 in November 2010. November 2010 average sales price increased 17% from the November 2009 average sales price which was $135,441.

Average days on the market increased from 228 in October 2010 to 345 in November 2010. November 2009 average days on the market were 100, a 245% increase in market time vesus the same time period last year.

Currently there are 1476 lots for sale in the Lake Norman MLS area. The average list price is $176,140. The average days on the market are 352. 29 Lake Norman area lots are currently under contract, a 12% increase from October.

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

Contact us at 866-LakeNorman for all of your Lake Norman real estate needs!

The Lake Norman Homes Team
Realtors®/Brokers
Keller Williams Realty
http://lakenormanhomes.com/