Lake Norman Real Estate Market Update December 2011

Lake Norman Homes
In December 2011 68 homes sold in the Lake Norman area, a 10.5% decrease from the 76 homes sold in November 2011. December 2011 sales figures decreased 28.4% from December 2010 when 95 homes sold in the Lake Norman area.
The average sales price increased 18.4% from $367,233 in November 2011 to $434,857 in December 2011. The December 2011 average sales price decreased .1% from the December 2010 average sales price which was $435,193.
Average days on the market increased 36.9% from 149 days in November 2011 to 204 days on the market in December 2011. December 2010 average days on the market were 173, a 17.7% increase in market time.
Currently there are 659 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath with 3,387 square feeet and an average list price of $650,120 up 4.1% from the November average list price of $624,246. The average days on the market are 192. 66 Lake Norman homes are currently under contract, down 104.5% from November!

Lake Norman Condos & Townhomes
In December 2011 17 condos/townhomes sold in the Lake Norman area, a 21.4% increase from the 14 condos or townhomes sold in November 2011. December 2011 sales figures increased 88.9% from December 2010 when 9 Lake Norman condos sold.
The average sales price increased 9.8% from $154,075 in November 2011 to $169,109 in December 2011. December 2011 average sales price decreased 30.5% from the December 2010 average sales price which was $215,277.
Average days on the market decreased 28.8% from 191 in November to 136 in December. December 2010 average days on the market were 161.
Currently there are 120 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,359 square feet and an average list price of $219,136, up 1.4% from November’s average list price of $216,040. The average days on the market are 193. 9 Lake Norman condos/townhomes are currently under contract, a 61% decrease from November.

Lake Norman Lots
In December 2011 9 lots sold in the Lake Norman area, a 25% decrease from the 12 lots sold in November 2011. December 2011 sales figures decreased 50% from December 2010 when 18 lots sold.
The average sales price increased 9.4% from $202,041 in November 2011 to $221,006 in December 2011. December 2011 average sales price increased 55.1% from the December 2010 average sales price which was $142,466.
Average days on the market decreased 70% from 313 in November 2011 to 94 in December 2011. December 2010 average days on the market were 238, a 60% decrease in market time vesus the same time period last year.
Currently there are 867 lots for sale in the Lake Norman MLS area. The average list price is $163,445, up 4.9% from November’s average list price of $155,742. The average days on the market are 444. 29 Lake Norman area lots are currently under contract, a 12.1% decrease from November.

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