Foreclosure and short sales as a percentage of total home sales in the Charlotte, North Carolina region remained very low at 1.3% of total sales in March 2018, down from 2% in February 2018 and down 0.5% compared with March 2017. Closed lender mediated sales for the 12 month period ending March 2018 were just 1.6% of total Charlotte region home sales.
If you've been searching for a distressed property bargain in the Charlotte metro area and not finding one, here's why:
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Foreclosure sales were down 27.3% in March 2018 compared with March 2017.
- Short sales were down 65.5% in March 2018 compared with March 2017.
- Inventory of foreclosure and short sale properties stood at 1% of total number of homes for sale in the Charlotte region.
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Average selling price for a distressed property for the 12 months ending March 2018 was up 17.4% compared with just 4.7% for non-distressed sales.
MARCH 2018 SHARE OF DISTRESSED PROPERTY SALES IN THE CHARLOTTE REGION
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This update on distressed property sales in the Charlotte region is brought to you by Nina Hollander and Carolinas Realty Partners, Coldwell Banker, your Charlotte metro area residential real estate experts.
If you're considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:
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