October 2010 Lake Norman Foreclosure Market Update

Lake Norman Foreclosure Homes
In October 2010 there are 156 foreclosure & short-sale properties listed in the Lake Norman area, a 17% decrease from the 187 foreclosure & short sale properties for sale in September 2010. Prices range from $55,000 for a double-wide to $2,000,000 for a waterfront home in The Point.

Nineteen foreclosure/short sale homes closed in October 2010. This was a decrease of 10% from the 21 foreclosure homes sold in September 2010. The average home was a 3 bedroom with 3,297 square feet and an average sale price of $392,850. The average sales price decreased $37,728 or 9% from the previous month. The average days on the market were 121, a 27 day decrease from September 2010.

Fifty-eight foreclosure and short sale properties are currently under contract, the prices range from $55,000 to $1,425,000.

Lake Norman Foreclosure Condos & Townhomes
In October 2010 there are 7 foreclosure/short-sale Lake Norman area condo/townhome properties listed, a 0% increase from the 7 foreclosure properties for sale in September 2010. Foreclosure prices range from $99,900 to $260,000. The average unit is a 2 bed/2 bath with 1,671 square feet and an average list price of $184,928.

Zero foreclosure or short-sale condos/townhomes closed in October 2010. This was a decrease of 500% from the 5 foreclosure condos sold in August 2010. Two units are currently under contract.

If you would like to be added to the foreclosure properties notification list and the Lake Norman area “Best Buy” list please fill out the form on this page: Lake Norman Foreclosure Notification.

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

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