September 2010 Lake Norman Foreclosure Market Update

Lake Norman Foreclosure Homes
In September 2010 there are 187 foreclosure & short-sale properties listed in the Lake Norman area, a 9% increase from the 172 foreclosure & short sale properties for sale in August 2010. Prices range from $28,500 for a double-wide to $2,000,000 for a waterfront home in The Point.

Twenty-one foreclosure/short sale homes closed in September 2010. This was a decrease of 25% from the 28 foreclosure homes sold in August 2010. The average home was a 3 bedroom with 3,541 square feet and an average sale price of $430,578. The average sales price increased $127,389 or 42% from the previous month. The average days on the market were 148, a 40 day increase from August 2010.

Fifty foreclosure and short sale properties are currently under contract, the prices range from $28,500 to $1,425,000.

Lake Norman Foreclosure Condos & Townhomes
In September 2010 there are 7 foreclosure/short-sale Lake Norman area condo/townhome properties listed, a 36% decrease from the 11 foreclosure properties for sale in August 2010. Foreclosure prices range from $99,900 to $424,900 for a waterfront condo.

Five condos/townhomes closed in September 2010. The average unit was a 2 bedroom with 1,227 square feet and a sale price of $135,749. This was an increase of 25% from the 4 foreclosure condos sold in August 2010. The average sales price decreased $82,966 or 38%. The average days on the market were 61.

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