Lake Norman Foreclosure Real Estate Market Update February 2012

Lake Norman Foreclosure Homes
At the end of February 2012 there were 55 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 15.4% decrease from the 65 foreclosure, preforeclosure & short sale properties for sale in January. Prices range from $85,900 to $5,900,000 for a waterfront home in Mooresville.

14 foreclosure/short sale homes closed in February 2012. This was an decrease of 6.7% from the 15 foreclosure and preforeclosure homes sold in January. The average home sold was a 3 bedroom/2 bath with 2,147 square feet and an average sale price of $184,431. The average sales price decreased 19% from the previous months average sale price of $227,726. The average days on the market were 110, a 2 day decrease from January.

21 foreclosure and short sale properties are currently under contract, a 5% increase from January.

Lake Norman Foreclosure Condos & Townhomes
At the end of February 2012 there were 12 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 50% increase from the 8 foreclosure, preforeclosure & short-sale properties listed for sale in January. Prices range from $100,000 to $295,000. The average unit is a 2 bed/3 bath with 1,573 square feet and an average list price of $206,658, up 21.2% from the January’s average list price of $170,487.

One foreclosure, preforeclosure or short-sale condos/townhomes sold in February. This was an decrease of 80% from the five foreclosure, preforeclosure or short-sale condos sold in January. The average sales price in February was $112,000, up 2.3% from the January average sales price of $109,430. One foreclosure/preforeclosure units are currently under contract, down 0% from January.

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. Or, you can view all the Lake Norman area foreclosures, preforeclosures and short sales.

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