Lake Norman Foreclosure Real Estate Market Update September 2011

Lake Norman Foreclosure Homes
At the end of September 2011 there were 115 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, an 8.7% decrease from the 126 foreclosure, preforeclosure & short sale properties for sale in August 2011. Prices range from $41,800 to $8,000,000 for a waterfront home in Mooresville.

9 foreclosure/short sale homes closed in September 2011. This was a decrease of 52.6% from the 19 foreclosure homes sold in August 2011. The average home sold was a 3 bedroom/2 bath with 2,816 square feet and an average sale price of $241,421. The average sales price decreased 26.7% from the previous months average sale price of $329,563. The average days on the market were 185, a 50 day increase from August 2011.

34 foreclosure and short sale properties are currently under contract, a 6.25% increase from August 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of September 2011 there were 14 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 27.3% increase from the 11 foreclosure, preforeclosure & short-sale properties listed for sale in August 2011. Prices range from $95,000 to $295,000. The average unit is a 2 bed/2 bath with 1,222 square feet and an average list price of $155,178, down 14.9% from the August’s average list price of $182,445.

Two foreclosure, preforeclosure or short-sale condos/townhomes sold in September 2011. This was an decrease of 50% from the four foreclosure, preforeclosure or short-sale condos sold in August 2011. The average sales price in September was $98,750, up 19.7 from the August average sales price of $123,000. Three foreclosure/preforeclosure units are currently under contract, down 25% from August .

If you would like to be added to the foreclosure properties email notification list and the Lake Norman area “Best Buy” list please fill out our Listing Alert form:

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