Lake Norman Foreclosure Real Estate Market Update November 2011

Lake Norman Foreclosure Homes
At the end of November 2011 there were 94 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 21% decrease from the 119 foreclosure, preforeclosure & short sale properties for sale in October 2011. Prices range from $69,000 to $8,000,000 for a waterfront home in Mooresville.

21 foreclosure/short sale homes closed in November 2011. This was an increase of 40% from the 15 foreclosure homes sold in October 2011. The average home sold was a 3 bedroom/3 bath with 2,832 square feet and an average sale price of $319,985. The average sales price increased 1.5% from the previous months average sale price of $315,244. The average days on the market were 121, a 61 day decrease from October 2011.

28 foreclosure and short sale properties are currently under contract, an 0% decrease from October 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of November 2011 there were 15 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 36.4% increase from the 11 foreclosure, preforeclosure & short-sale properties listed for sale in October 2011. Prices range from $92,000 to $307,900. The average unit is a 2 bed/2 bath with 1,197 square feet and an average list price of $165,739, up 2.8% from the October’s average list price of $161,209.

One foreclosure, preforeclosure or short-sale condos/townhomes sold in November 2011. This was an decrease of 0% from the one foreclosure, preforeclosure or short-sale condos sold in October 2011. The average sales price in October was $96,900, down 47.8% from the October average sales price of $185,500. Two foreclosure/preforeclosure units are currently under contract, down 33% from October.

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.