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Lake Norman Real Estate Market Update August 2011

Lake Norman Homes
In August 2011 106 homes sold in the Lake Norman area, a 21.8% increase from the 87 homes sold in July 2011. August 2011 sales figures increased 27.7% from August 2010 when 83 homes sold in the Lake Norman area.
The average sales price decreased 13.7% from $511,166 in July 2011 to $441,007 in August 2011. The August 2011 average sales price decreased 4.7% from the August 2010 average sales price which was $462,987.
Average days on the market decreased 13.3% from 181 days in July 2011 to 157 days on the market in August 2011. August 2010 average days on the market were 138, a 28.3% increase in market time.
Currently there are 1076 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath with 3,327 square feeet and an average list price of $625,872 down 2% from the July average list price of $638,951. The average days on the market are 167. 120 Lake Norman homes are currently under contract, up 21% from July. Read this post