Lake Park NC Real Estate Market Report--January-March 2011
Lake Park NC Real Estate Market Report—January-March 2011
Lake Park NC is a small town of approximately 3000 residents. It offers a mix of all types of housing, including single family homes and townhomes and condominiums. There were very few closed sales in Lake Park during the first quarter of 2011—only four single family sales and only two townhome sales. Median prices dropped substantially during the quarter from 2010 for single family homes but only slightly for townhomes. Days on market dropped two-thirds or more from 2010 numbers.
What do the first quarter 2011 numbers mean for Lake Park buyers and sellers?
- Sellers in Lake Park face continued downward pressure on home prices.
- Buyers for properties in Lake Park can find good values.
Single Family Homes
| Lake Park Single Family Homes | Year 2008 | Year 2009 | Year 2010 | Quarter 1 Year 2011 |
| Median Sales Price | $175,000 | $172,000 | $165,692 | $144,750 |
| Number of Homes Sold | 45 | 23 | 24 | 4 |
| Median Days on Market | 37 | 60 | 143 | 53 |
Source: Carolina Multiple Listing Service
Townhomes
| Lake Park Townhomes and Condos | Year 2008 | Year 2009 | Year 2010 | Quarter 1 Year 2011 |
| Median Sales Price | $141,500 | $133,450 | $117,000 | $114,600 |
| Number of Homes Sold | 13 | 10 | 12 | 2 |
| Median Days on Market | 52 | 118 | 184 | 53 |
Source: Carolina Multiple Listing Service
Copyright 2011. Carol Fox. Allen Tate Realtors. *Lake Park NC Real Estate Market Report—January-March 2011*