January 2011 Lake Norman Real Estate Market Update

Lake Norman Homes
In January 2011 54 homes sold in the Lake Norman area, a 43% decrease from the 95 homes sold in December 2010. January 2011 sales figures decreased 16% from January 2010 when 64 homes sold in the Lake Norman area.

The average sales price decreased .5% from $435,193 in December 2010 to $432,987 in January 2011. The January 2011 average sales price decreased 6% from the January 2010 average sales price which was $460,207.

Average days on the market decreased 16% from 165 days in December 2010 to 139 days on the market in January 2011. January 2010 average days on the market were 196, a 29% decrease in market time.

Currently there are 1122 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath with 3,356 square feeet and an average list price of $628,605. The average days on the market are 170. 127 homes are currently under contract, down 10% from December.

Lake Norman Condos & Townhomes
In January 2011 6 condos/townhomes sold in the Lake Norman area, a 33% decrease from the 9 condos or townhomes sold in December 2010. January 2011 sales figures decreased 25% from January 2010 when 8 condos sold.

The average sales price decreased 23% from $215,276 in December 2010 to $166,498 in January 2011. January 2011 average sales price increased 7% from the January 2010 average sales price which was $155,812.

Average days on the market decreased 1% from 149 in December to 147 in January. January 2010 average days on the market were 176.

Currently there are 191 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,431 square feeet and an average list price of $212,100. The average days on the market are 150. 23 Lake Norman condos/townhomes are currently under contract, an 35% increase from December.

Lake Norman Lots
In January 2011 6 lots sold in the Lake Norman area, a 200% decrease from the 18 lots sold in December 2010. January 2011 sales figures increased 0% from January 2010 when 6 lots sold.

The average sales price increased 30% from $142,466 in December 2010 to $185,833 in January 2011. January 2011 average sales price increased 72% from the January 2010 average sales price which was $107,950.

Average days on the market decreased 36% from 238 in December 2010 to 152 in January 2011. January 2010 average days on the market were 515, a 70% decrease in market time vesus the same time period last year.

Currently there are 1409 lots for sale in the Lake Norman MLS area. The average list price is $165,315. The average days on the market are 379. 23 Lake Norman area lots are currently under contract, a 15% increase from December.

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

The Lake Norman Homes Team
Realtors®/Brokers
Keller Williams Realty
www.LakeNormanHomes.com