Tuesday, November 9, 2010

October 2010 Lake Norman Real Estate Market Update

Lake Norman Homes

In October 2010 65 homes sold in the Lake Norman area, an 11% decrease from the 73 homes sold in September 2010. October 2010 sales figures decreased 27% from October 2009 when 89 homes sold in the Lake Norman area.

The average sales price increased 27% from $403,913 in September 2010 to $512,183 in October 2010. The October 2010 average sales price increased 5% from the October 2009 average sales price which was $487,222.

Average days on the market increased 3% from 138 days in September 2010 to 142 days on the market in October 2010. October 2009 average days on the market were 77, a 84% increase in market time.

Currently there are 1275 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath home with 3,385 square feeet and an average list price of $647,038. The average days on the market are 164. 162 homes are currently under contract.

Lake Norman Condos & Townhomes
In October 2010 9 condos sold in the Lake Norman area, an 47% decrease from the 17 condos sold in September 2010. October 2010 sales figures decreased 47% from October 2009 when 17 condos sold.

The average sales price increased 13% from $183,331 in September 2010 to $207,555 in October 2010. October 2010 average sales price increased 14% from the October 2009 average sales price which was $181,664.

Average days on the market decreased 10% from 126 in September to 114 in October. October 2009 average days on the market were 68.

Currently there are 192 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,398 square feeet and an average list price of $223,378. The average days on the market are 164. 15 Lake Norman condos/townhomes are currently under contract.

Lake Norman Lots
In October 2010 14 lots sold in the Lake Norman area, a 250% increase from the 4 lots sold in September 2010. October 2010 sales figures increased 17% from October 2009 when 12 lots sold.

The average sales price increased 205% from $43,612 in September 2010 to $133,104 in October 2010. October 2010 average sales price decreased 24% from the October 2009 average sales price which was $174,291.

Average days on the market increased from 226 in September 2010 to 228 in October 2010. October 2009 average days on the market were 102, a 124% increase in market time vesus the same time period last year.

Currently there are 1428 lots for sale in the Lake Norman MLS area. The average list price is $177,563. The average days on the market are 362. 26 lots are currently under contract.

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