Thursday, December 16, 2010

Interest Rates Continue To Rise!

NEW YORK (TheStreet) -- Mortgage rates continued to sail higher for the fifth consecutive week, according to Freddie Mac, with the most popular mortgages inching further toward 5%.

Traditional 30-year fixed mortgages cost 4.83% on average, for the week ended on Thursday, with a discount of 0.7 point. Though still below year-ago levels, those rates jumped significantly from the previous week's 4.61% rate and the 4.17% low hit in early November; 30-year fixed rates haven't been this high in seven months.

Mortgage Rates by RateZip.com


Wednesday, December 8, 2010

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/