December 2010 Lake Norman Real Estate Market Update

Lake Norman Homes
In December 2010 95 homes sold in the Lake Norman area, a 30% increase from the 73 homes sold in November 2010. December 2010 sales figures increased 42% from December 2009 when 67 homes sold in the Lake Norman area.

The average sales price decreased 22% from $556,014 in November 2010 to $435,193 in December 2010. The December 2010 average sales price decreased 19% from the December 2009 average sales price which was $540,217.

Average days on the market decreased 15% from 165 days in November 2010 to 141 days on the market in December 2010. December 2009 average days on the market were 180, a 28% decrease in market time.

Currently there are 1092 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath with 3,379 square feeet and an average list price of $641,355. The average days on the market are 173. 141 homes are currently under contract, down 1% from November.

Lake Norman Condos & Townhomes
In December 2010 9 condos/townhomes sold in the Lake Norman area, a 33% increase from the 6 condos or townhomes sold in November 2010. December 2010 sales figures decreased 10% from December 2009 when 10 condos sold.

The average sales price decreased 6% from $228,166 in November 2010 to $215,276 in December 2010. December 2010 average sales price decreased 30% from the December 2009 average sales price which was $309,690.

Average days on the market increased 31% from 114 in November to 149 in December. December 2009 average days on the market were 139.

Currently there are 178 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,430 square feeet and an average list price of $225,370. The average days on the market are 158. 17 Lake Norman condos/townhomes are currently under contract, an 11% decrease from November.

Lake Norman Lots
In December 2010 18 lots sold in the Lake Norman area, a 125% increase from the 8 lots sold in November 2010. December 2010 sales figures increased 100% from December 2009 when 9 lots sold.

The average sales price decreased 10% from $158,490 in November 2010 to $142,466 in December 2010. December 2010 average sales price increased 12% from the December 2009 average sales price which was $127,028.

Average days on the market decreased 31% from 345 in November 2010 to 238 in December 2010. December 2009 average days on the market were 157, a 52% increase in market time vesus the same time period last year.

Currently there are 1373 lots for sale in the Lake Norman MLS area. The average list price is $164,105. The average days on the market are 362. 20 Lake Norman area lots are currently under contract, a 31% decrease from November.

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!

Mike Spruell
Realtor®/Broker/ePRO
The Lake Norman Homes Team
Keller Williams Realty
704-907-7907
www.LakeNormanRealEstate.pro
www.LakeNormanForeclosure.com
www.CharlotteNCCondos.com