August 2010 Lake Norman Foreclosure Real Estate Market Update

Lake Norman Foreclosure Homes
In August 2010 there are 172 foreclosure & short-sale properties listed in the Lake Norman area, a 22% increase from the 141 foreclosure & short sale properties listed in July 2010. Prices range from $77,500 for a double-wide to $2,190,000 for a waterfront home in The Point.

Twenty-eight foreclosure/short sale homes closed in August 2010. This was a increase of 4% from the 27 foreclosure homes sold in July 2010. The average home was a 3 bedroom with 3,044 square feet and an average sale price of $303,189. The average sales price decreased $99,093 or 24% from the previous month. The average days on the market were 108.

Forty foreclosure and short sale properties are currently under contract. Prices range from $90,200 to $1,425,000.

Lake Norman Foreclosure Condos & Townhomes
In August 2010 there are 11 foreclosure/short-sale Lake Norman area condo/townhome properties listed, a 0% increase from the 11 foreclosure properties listed in July 2010. Foreclosure prices range from $99,900 to $449,900 for a waterfront condo.

Four condos/townhomes closed in August 2010. The average unit was a 3 bedroom with 1,625 square feet and a sale price of $218,715. This was an increase of 400% from the 1 foreclosure condo sold in July 2010. The average sales price increased $109,865 or 101%. The average days on the market were 246.

If you would like to be added to the foreclosure properties notification list and the Lake Norman area “Best Buy” list please contact us.

If you need help stopping foreclosure on your Lake Norman property please give us a call at 866-LakeNorman

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