Lake Norman Foreclosure Real Estate Market Update January 2012

Lake Norman Foreclosure Homes
At the end of January 2012 there were 65 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 7.5% decrease from the 75 foreclosure, preforeclosure & short sale properties for sale in December 2011. Prices range from $75,000 to $5,900,000 for a waterfront home in Mooresville.

15 foreclosure/short sale homes closed in January 2012. This was an decrease of 37.5% from the 24 foreclosure and preforeclosure homes sold in December 2011. The average home sold was a 3 bedroom/2 bath with 2,338 square feet and an average sale price of $227,726. The average sales price decreased 37.5% from the previous months average sale price of $364,454. The average days on the market were 112, a 67 day decrease from December 2011.

20 foreclosure and short sale properties are currently under contract, a 4.8% decrease from December 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of January 2012 there were 8 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 20% decrease from the 10 foreclosure, preforeclosure & short-sale properties listed for sale in December 2011. Prices range from $100,000 to $295,000. The average unit is a 2 bed/2 bath with 1,253 square feet and an average list price of $170,487 , down .2% from the December’s average list price of $170,770.

Five foreclosure, preforeclosure or short-sale condos/townhomes sold in December 2011. This was an increase of 400% from the one foreclosure, preforeclosure or short-sale condos sold in December 2011. The average sales price in December was $109,430, up 36.8% from the November average sales price of $80,000. Two foreclosure/preforeclosure units are currently under contract, down 33% from December.

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.