Lake Norman Foreclosure Real Estate Market Update June 2011

Lake Norman Foreclosure Homes
At the end of June 2011 there were 105 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 17% increase from the 90 foreclosure, preforeclosure & short sale properties for sale in May 2011. Prices range from $24,900 to $1,400,000 for a waterfront home in Mooresville.

21 foreclosure/short sale homes closed in June 2011. This was an increase of 31% from the 16 foreclosure homes sold in May 2011. The average home sold was a 3 bedroom/3 bath with 3,035 square feet and an average sale price of $344,223. The average sales price increased 3% from the previous months average sale price of $334,087. The average days on the market were 153, an 27 day increase from May 2011.

Thirty foreclosure and short sale properties are currently under contract, a 6% decrease from May 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of June 2011 there were 12 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 33% increase from the 9 foreclosure, preforeclosure & short-sale properties listed for sale in May 2011. Prices range from $95,000 to $309,900. The average unit is a 2 bed/2 bath with 1,197 square feet and an average list price of $160,575, down 9% from the May average list price of $177,299.

Two foreclosure, preforeclosure or short-sale condos/townhomes sold in June 2011. This was an increase of 200% from the zero foreclosure, preforeclosure or short-sale condos sold in May 2011. The average sales price in June was $112,600, down 6% from the April average sales price of $119,750. Four foreclosure/preforeclosure units are currently under contract, up 50% from May.

If you would like to be added to the foreclosure properties email notification list and the Lake Norman area “Best Buy” list please sign up for our Listing Alert.

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

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