March 2016 Lake Norman Condo Market Update
Lake Norman Condos & Townhomes
In March 29 condos/townhomes sold in the Lake Norman area, a 3.3% decrease from the 30 condos or townhomes sold in February. March 2016 sales figures increased 16% from March 2015 when 25 Lake Norman condos sold.
The average sales price increased 4.6% from $209,231 in February to $218,796 in March. The March 2016 average sales price increased 12.1% from the March 2015 average sales price which was $195,193.
Average days on the market decreased 1.4% from 74 in February to 73 in March. The March 2015 average days on the market were 77, a 5.2% decrease in market time.
Currently there are 77 active condo/townhome listings for sale in the Lake Norman MLS area, a 6.1% decrease from the 82 condos for sale in March. The average list price is $276,127, up 5.2% from March’s average list price of $262,574. The average days on the market are 109. 53 Lake Norman condos/townhomes are currently under contract, a 23.3% increase from March.
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