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Lake Norman Foreclosure Real Estate Market Update August 2011

Lake Norman Foreclosure Homes
At the end of August 2011 there were 126 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 57.5% decrease from the 80 foreclosure, preforeclosure & short sale properties for sale in July 2011. Prices range from $25,000 to $8,000,000 for a waterfront home in Mooresville.

19 foreclosure/short sale homes closed in August 2011. This was a increase of 35.7% from the 14 foreclosure homes sold in July 2011. The average home sold was a 3 bedroom/3 bath with 3,129 square feet and an average sale price of $329,563. The average sales price decreased 23.2% from the previous months average sale price of $429,307. The average days on the market were 135, a 0 day decrease from July 2011.

32 foreclosure and short sale properties are currently under contract, a 33% increase from July 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of August 2011 there were 11 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 10% increase from the 10 foreclosure, preforeclosure & short-sale properties listed for sale in July 2011. Prices range from $89,900 to $295,000. The average unit is a 2 bed/2 bath with 1,146 square feet and an average list price of $182,445, up 9.3% from the July’s average list price of $166,970.

Four foreclosure, preforeclosure or short-sale condos/townhomes sold in August 2011. This was an decrease of 400% from the zero foreclosure, preforeclosure or short-sale condos sold in July 2011. The average sales price in August was $123,000, up from the July average sales price of $0. Four foreclosure/preforeclosure units are currently under contract, up 33% from July.

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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