Lake Norman Real Estate Market Snapshot – December 2008   Leave a comment

Lake Norman Real Estate Market Activity

Monthly Activity Snapshot for December 2008

lake norman happenings

 

Single Family Homes in Area 13 (Lake Norman)

“Average prices of home sales are down from last December 2007”

Total Listings: 1,5o1

New Listings in December: 175

Average List Price of New Listings: $697,686

Under Contract: 47 

Average List Price of Under Contract Listings: $385,834

Sold Homes:  56

Average List Price of Sold Listings: $424,339

Average Sale Price to List Price Percentage: 92.78%

Average Days On Market:  163

Price Changes:  259

Analysis:  4 months average time on market for homes selling in the upper 300s. 92% is roughly 3 percent off from our 95-96% sale price to list price in December 2007. Shows that we are definitely in a “Buyer’s Market” since lower offers are being accepted. 

We only had 1/4th of the homes sell that were listed just in December alone. 

Here is a snapshot of last December 2007 to compare:

New Listings: 169

Average List Price: $563,543

Under Contract: 71

Avg List Price Under Contract: $464,176

Sold: 71

Avg List Price Sold: $471,063

SP/LP%: 95.31

Average Days on Market: 143

** Note: my information and numbers come from the Charlotte Regional Multiple Listing Service and do not include sales outside of the MLS.

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