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:
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.
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 courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants.
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: