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April 2011 Lake Norman Foreclosure Real Estate Market Update

Lake Norman Foreclosure Homes
At the end of April 2011 there were 103 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 17% decrease from the 124 foreclosure, preforeclosure & short sale properties for sale in March 2011. Prices range from $27,209 for a double-wide to $1,499,000 for a waterfront home in Mooresville.

Twenty-one foreclosure/short sale homes closed in April 2011. This was an decrease of 13% from the 24 foreclosure homes sold in March 2011. The average home sold was a 3 bedroom/3 bath with 3,148 square feet and an average sale price of $336,190. The average sales price decreased $32,898 or 9% from the previous month. The average days on the market were 212, a 56 day increase from March 2011.

Thirty-two foreclosure and short sale properties are currently under contract, a 33% decrease from March 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of April 2011 there were 11 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 0% increase from the 11 foreclosure, preforeclosure & short-sale properties listed for sale in March 2011. Foreclosure prices range from $81,810 to $375,000. The average unit is a 2 bed/2 bath with 1,227 square feet and an average list price of $181,791, down .2% from the March average list price of $182,228.

Two foreclosure, preforeclosure or short-sale condos/townhomes sold in April 2011. This was an increase of 100% from the 1 foreclosure, preforeclosure or short-sale condos sold in March 2011. The average sales price in April was $119,750, down 40% from the March average sales price of $200,000. One foreclosure/preforeclosure units is currently under contract.

If you would like to be added to the foreclosure properties email notification list and the Lake Norman area “Best Buy” list please visit our Lake Norman foreclosure website LakeNormanForeclosure.com.

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


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The Lake Norman Homes Team at Southern Homes of The Carolinas

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