Lake Norman Foreclosure Real Estate Market Update December 2011

Lake Norman Foreclosure Homes
At the end of December 2011 there were 75 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 20% decrease from the 94 foreclosure, preforeclosure & short sale properties for sale in November 2011. Prices range from $75,000 to $5,900,000 for a waterfront home in Mooresville.

24 foreclosure/short sale homes closed in December 2011. This was an increase of 14.3% from the 21 foreclosure homes sold in November 2011. The average home sold was a 3 bedroom/3 bath with 2,857 square feet and an average sale price of $364,454. The average sales price increased 13.9% from the previous months average sale price of $319,985. The average days on the market were 179, a 58 day decrease from November 2011.

21 foreclosure and short sale properties are currently under contract, a 25% decrease from November 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of December 2011 there were 10 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 33% decrease from the 15 foreclosure, preforeclosure & short-sale properties listed for sale in November 2011. Prices range from $90,000 to $307,900. The average unit is a 2 bed/2 bath with 1,081 square feet and an average list price of $170,770, up 3% from the Nocvember’s average list price of $165,739.

One foreclosure, preforeclosure or short-sale condos/townhomes sold in December 2011. This was an decrease of 0% from the one foreclosure, preforeclosure or short-sale condos sold in November 2011. The average sales price in December was $80,000, down 17.4% from the November average sales price of $96,900. Three foreclosure/preforeclosure units are currently under contract, up 50% from November.

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.