February 2011 Lake Norman Real Estate Market Update

Lake Norman Homes
In February 2011 46 homes sold in the Lake Norman area, a 15% decrease from the 54 homes sold in January 2011. February 2011 sales figures increased 4.5% from February 2010 when 44 homes sold in the Lake Norman area.

The average sales price decreased 18% from $432,987 in January 2011 to $354,665 in February 2011. The February 2011 average sales price decreased 10% from the February 2010 average sales price which was $394,010.

Average days on the market increased 6% from 139 days in January 2011 to 148 days on the market in February 2011. February 2010 average days on the market were 165, a 10% decrease in market time.

Currently there are 1146 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath with 3,364 square feeet and an average list price of $633,987 up 1% from the January average list price of $628,605. The average days on the market are 166. 130 homes are currently under contract, up 2% from January.

Lake Norman Condos & Townhomes
In February 2011 9 condos/townhomes sold in the Lake Norman area, a 50% increase from the 6 condos or townhomes sold in January 2011. February 2011 sales figures decreased 0% from February 2010 when 9 condos sold.

The average sales price decreased 5% from $166,498 in January 2011 to $157,946 in February 2011. February 2011 average sales price decreased 25% from the February 2010 average sales price which was $209,333.

Average days on the market increased 26% from 147 in January to 185 in February. February 2010 average days on the market were 202.

Currently there are 200 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,385 square feeet and an average list price of $209,850, down 1% from January's average list price of $212,100. The average days on the market are 136. 20 Lake Norman condos/townhomes are currently under contract, a 13% decrease from January.

Lake Norman Lots
In February 2011 11 lots sold in the Lake Norman area, a 83% increase from the 6 lots sold in January 2011. February 2011 sales figures increased 57% from February 2010 when 7 lots sold.

The average sales price decreased 30% from $185,833 in January 2011 to $130,336 in February 2011. February 2011 average sales price increased 10% from the February 2010 average sales price which was $118,785.

Average days on the market increased 31% from 152 in January 2011 to 199 in February 2011. February 2010 average days on the market were 190, a 5% increase in market time vesus the same time period last year.

Currently there are 1401 lots for sale in the Lake Norman MLS area. The average list price is $159,546, down 3% from January's average list price of $165,315. The average days on the market are 378. 30 Lake Norman area lots are currently under contract, a 30% 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