Lake Park NC Real Estate Market Report—July-September 2011
After a big increase in single family home sales during the second quarter of 2011, Lake Park NC home sales dropped back to five homes, a number similar to the first quarter. The median sales price in the third quarter, however, increased to a high of $150,000 for the year. Days on market increased over the first half of 2011 to 78 days.
Townhome sales continued to be slow with only one unit sold during the period. The price was $72,500, below previous quarters and below 2010 numbers.
What do the third quarter 2011 numbers mean for Lake Park NC buyers and sellers?
- Single family home sellers in Lake Park have seen stable to improving median prices over the spring and summer of 2011. Median prices remain below 2010 numbers, however. Townhome sellers face a very difficult market with few sales and declining prices.
- Housing, both single family and townhomes, remains more affordable for buyers in Lake Park than recent years.
Single Family Homes
| Lake Park Single Family Homes | Year 2008 | Year 2009 | Year 2010 | Quarter 1 Year 2011 | Quarter 2 Year 2011 | Quarter 3 Year 2011 |
| Median Sales Price | $175,000 | $172,000 | $165,692 | $144,750 | $135,000 | $150,000 |
| Number of Homes Sold | 45 | 23 | 24 | 4 | 15 | 5 |
| Median Days on Market | 37 | 60 | 143 | 53 | 50 | 78 |
Source: Carolina Multiple Listing Service
Townhomes
| Lake Park Townhomes and Condos | Year 2008 | Year 2009 | Year 2010 | Quarter 1 Year 2011 | Quarter 2 Year 2011 | Quarter 3 Year 2011 |
| Median Sales Price | $141,500 | $133,450 | $117,000 | $114,600 | $85,000 | $72,500 |
| Number of Homes Sold | 13 | 10 | 12 | 2 | 1 | 1 |
| Median Days on Market | 52 | 118 | 184 | 53 | 611 | 150 |
Source: Carolina Multiple Listing Service
Copyright 2011. Carol Fox. Allen Tate Realtors. *Lake Park NC Real Estate Market Report—July-September 2011*
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