Monday, September 13, 2010

August 2010 Lake Norman Foreclosure Real Estate Market Update

Lake Norman Foreclosure Homes
In August 2010 there are 172 foreclosure & short-sale properties listed in the Lake Norman area, a 22% increase from the 141 foreclosure & short sale properties listed in July 2010. Prices range from $77,500 for a double-wide to $2,190,000 for a waterfront home in The Point.


Twenty-eight foreclosure/short sale homes closed in August 2010. This was a increase of 4% from the 27 foreclosure homes sold in July 2010. The average home was a 3 bedroom with 3,044 square feet and an average sale price of $303,189. The average sales price decreased $99,093 or 24% from the previous month. The average days on the market were 108.


Forty foreclosure and short sale properties are currently under contract. Prices range from $90,200 to $1,425,000.


Lake Norman Foreclosure Condos & Townhomes
In August 2010 there are 11 foreclosure/short-sale Lake Norman area condo/townhome properties listed, a 0% increase from the 11 foreclosure properties listed in July 2010. Foreclosure prices range from $99,900 to $449,900 for a waterfront condo.


Four condos/townhomes closed in August 2010. The average unit was a 3 bedroom with 1,625 square feet and a sale price of $218,715. This was an increase of 400% from the 1 foreclosure condo sold in July 2010. The average sales price increased $109,865 or 101%. The average days on the market were 246.


If you would like to be added to the foreclosure properties notification list and the Lake Norman area "Best Buy" list please contact us.


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


The Lake Norman Homes Team
Realtors®/Brokers
Keller Williams Realty
http://lakenormanhomes.com/
866-LakeNorman

August 2010 Lake Norman Real Estate Market Update

Lake Norman HomesIn August 2010 83 homes sold in the Lake Norman area, a 2% increase over the 81 homes sold in July 2010. August 2010 sales figures increased 5% over August 2009 when 79 homes sold in the Lake Norman area.


The average sales price decreased 1% from $468,367 in July 2010 to $462,986 in August 2010. The August 2010 average sales price decreased .3% from the August 2009 average sales price which was $464,162.


Average days on the market decreased 44% from 177 in July 2010 to 98 days on the market in August 2010. August 2009 average days on the market were 166, a 41% decrease in market time.


Currently there are 1372 homes for sale in the Lake Norman MLS area. The average home is a 3 bed/3 bath home with 3,364 square feeet and an average list price of $648,964. The average days on the market are 147. 126 homes are currently under contract.


Lake Norman Condos & Townhomes
In August 2010 13 condos sold in the Lake Norman area, an 8% increase from the 12 condos sold in July 2010. August 2010 sales figures decreased 19% from August 2009 when 16 condos sold.


The average sales price decreased 4.5% from $210,945 in July 2010 to $201,492 in August 2010. August 2010 average sales price decreased 10% from the August 2009 average sales price which was $224,204.


Average days on the market decreased 21% from 208 in July to 165 in August. August 2009 average days on the market were 123.


Currently there are 211 condo/townhomes for sale in the Lake Norman MLS area. The average unit is a 2 bed/2 bath home with 1,375 square feeet and an average list price of $227,647. The average days on the market are 129. 17 Lake Norman condos/townhomes are currently under contract.


Lake Norman Lots
In August 2010 4 lots sold in the Lake Norman area, a 75% decrease from the 16 lots sold in July 2010. August 2010 sales figures decreased 64% from August 2009 when 11 lots sold.


The average sales price decreased 71% from $135,887 in July 2010 to $39,040 in August 2010. August 2010 average sales price decreased 71% from the August 2009 average sales price which was $136,409.


Average days on the market increased from 170 in July 2010 to 297 in August 2010. August 2009 average days on the market were 329, a 10% decrease in market time vesus the same time period last year.


Currently there are 1380 lots for sale in the Lake Norman MLS area. The average list price is $185,932. The average days on the market are 416. 24 lots are currently under contract.


If you would like to search for Lake Norman properties for sale please visit our website: Search Lake Norman Listings


Contact us at 866-LakeNorman for all of your Lake Norman real estate needs!

The Lake Norman Homes Team Realtors®/Brokers Keller Williams Realty http://lakenormanhomes.com/