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Lake Norman Foreclosure Real Estate Market Update August 2011

Lake Norman Foreclosure Homes
At the end of August 2011 there were 126 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 57.5% increase from the 80 foreclosure, preforeclosure & short sale properties for sale in July 2011. Prices range from $25,000 to $8,000,000 for a waterfront home in Mooresville.

19 foreclosure/short sale homes closed in August 2011. This was a increase of 35.7% from the 14 foreclosure homes sold in July 2011. The average home sold was a 3 bedroom/3 bath with 3,129 square feet and an average sale price of $329,563. The average sales price decreased 23.2% from the previous months average sale price of $429,307. The average days on the market were 135, a 0 day decrease from July 2011.

32 foreclosure and short sale properties are currently under contract, a 33% increase from July 2011. Read this post

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