Foreclosure And Short Sale Homes Still Hard To Find In Charlotte Region

By
Real Estate Agent with Coldwell Banker Realty
https://activerain.com/droplet/5npD

 

Foreclosure And Short Sale Homes Continue To Be Hard To Find In The Charlotte, NC Region

 

Having trouble finding a foreclosure or short sale home to purchase in the Charlotte area? Foreclosure and short sales as a percentage of total home sales in the Charlotte, North Carolina region remained very low at 0.9% of total sales in April 2020. 

 

Why Foreclosure Bargains Are Almost Impossible To Find In The Charlotte Region:

                                          

  • Foreclosure sales were up by just one sale in April 2020 compared with April 2019. Just 30 foreclosure homes sold in April 2020.
                                                                                                                  
  • Short sales were down 57.1% in April 2020 compared with April 2019. Just 3 short sale homes sold in April 2020.

  • Inventory of foreclosure and short sale properties stood at 1% of total number of homes for sale in the city of Chalotte and lower in most of the other towns and cities surrounding Charlotte.

  • Median selling price for foreclosure homes was up 38.4% in April 2020 versus the same period one year ago. Median selling price for short sale homes was up 121.6% in April 2020 year-over-year. Median sale price for non-foreclosure homes was up 7.8% in April 2020 year-over-year. In other words, if you've been looking for a distressed property bargain... think again!

  • Since 2015, distressed property sales are at their lowest levels, as are the number of distressed properties on the market. Average days on market are at their lowest levels for distressed properties since 2015. Average sale prices of distressed properties are at their highest levels since 2015.
      

 

 

APRIL 2020 SHARE OF DISTRESSED PROPERTY SALES IN THE CHARLOTTE REGION

 

 Foreclosure and Short Sale Home Sales In April 2020 Charlotte Region

 

 

 

Foreclosure/Short Sale Home Sales In Charlotte Region At Their Lowest Levels Since 2015 

 

 

 

 

 

Average Selling Prices For Charlotte Region Foreclosure/Short Sale Homes At Their Highest Levels Since 2015

 


 

 

 

 

Steady Decline Since 2015 Of New Foreclosure/Short Sale Listings In The Charlotte Region

 

 

 

 

 

Months Supply of Homes Of Foreclosure/Short Sale Listings At Their Lowest Levels In The Charlotte Region Since 2015

 

 

 

 

Number Of Foreclosure/Short Sale Homes For Sale In The Charlotte Region At Their Lowest Levels Since 2015 

 

 

 

 

Average Days On Market For Foreclosure/Short Sale Homes In Charlotte Region At Their Lowest Level Since 2015

 

 

 

 

Want to stay on top of foreclosure and short sale home listings in the Charlotte metro area?

Contact Carolinas Realty Partners and we'll send you a list of distressed properties as they come on the market.

  

SEARCH ALL CHARLOTTE REGION HOMES FOR SALE 

 

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:

 "The Right Broker Makes All The Difference."

 

Great Homes In Charlotte

 

  

 

 

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

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Oh by the way, I'm never too busy for any of your referrals!

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Groups:
Charlotte NC Real Estate
Market Reports
Buyer Information - What Buyers Need to Know in Today's Market
2020 Market Reports
Tags:
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foreclosure rates drop to new lows
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Rainmaker
3,447,127
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider hi Grant... I don't expect a repeat of 2008/2009 in terms of foreclosures either... and even then, Charlotte didn't have anywhere near the inventory of distressed properties as other parts of the country.

May 30, 2020 02:13 PM #9
Rainmaker
3,447,127
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Michael Jacobs hi Michael... when people ask me to forecast, I simply tell them my crystal ball was cracked years ago and I've never been able to find anyone to repair it! :)

May 30, 2020 02:14 PM #10
Rainmaker
4,318,845
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Hi Nina, last time I looked in Denver, we had THREE in all the metro area, so same as your market.

May 30, 2020 02:21 PM #11
Rainmaker
2,181,405
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Hi Nina Hollander - Foreclosures and short sales are hard to find in my area too. However, it' coming. That's what they tell us. It's coming. Classes are filling up fast because "it's coming." I took the course because I do believe "it's coming." but I hope I'm wrong.

May 30, 2020 07:50 PM #12
Ambassador
3,257,518
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I hope 🤞 this doesn't change in the near future...

Hope you are having a great weekend Nina Hollander 

May 30, 2020 09:20 PM #13
Rainmaker
3,165,327
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina.

Foreclosures are downright difficult, if not impossible to find, in my area

May 31, 2020 12:50 AM #14
Rainmaker
3,447,127
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox good morning, Joan... I'm not surprised that Denver has so few distressed property sales... your homes have appreciated and it's easy for someone to sell their home instead of getting foreclosed on.

May 31, 2020 05:50 AM #15
Rainmaker
3,447,127
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager, MBA, CRS, GRI,MRP good morning, Patricia... I got out of the prognostication business a very long time ago. There are so many so-called experts out there and we never know on what basis they forecast. I don't believe foreclosures will be an issue everywhere in the same way. And many lenders are also working with their borrowers to help avoid foreclosure which they did not in the last recession.

May 31, 2020 05:54 AM #16
Rainmaker
3,447,127
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS good morning, Paul. As I wrote to Patricia Feager...  I got out of the prognostication business a very long time ago. There are so many so-called experts out there and we never know on what basis they forecast. I don't believe foreclosures will be an issue everywhere in the same way. And many lenders are also working with their borrowers to help avoid foreclosure which they did not in the last recession.

May 31, 2020 05:55 AM #17
Rainmaker
3,447,127
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray same here, James... and it's been that way for years. People still seem to think foreclosures are a dime a dozen and great bargains... not so much as I keep telling them.

May 31, 2020 05:56 AM #18
Rainmaker
3,336,316
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Nina, I don't have many buyers asking about foreclosures. They're out there if a buyer looks hard enough, but I'm looking forward to a more stable Real Estate market.

May 31, 2020 06:18 AM #19
Rainmaker
2,884,220
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Dealing with the banks is never fun, so not being able to find short sales or foreclosures is a good thing in my mind.

May 31, 2020 07:40 AM #20
Rainmaker
3,447,127
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila and Larry... whenever I tell "new" buyers that there isn't much inventory in their price point, the knee jerk response seems to be "we'll consider a foreclosure or short sale." They just don't get that they aren't out there, haven't been for years, and are not bargain basement priced.

May 31, 2020 07:56 AM #21
Rainmaker
3,447,127
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England hi Brian... I don't particularly care to list distressed properties... but if I find the right one for a buyer I can't say I've had any issues in the past in getting those homes sold.

May 31, 2020 07:58 AM #22
Ambassador
2,015,952
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi Nina, finally home and we are both exhausted. It's a long story. ;)  I'll share more on  Thursday. I also don't love to list short sales or foreclosed properties, but will show them to clients.  

May 31, 2020 09:05 AM #23
Rainmaker
3,410,321
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina,  I think it is a matter of time when we will see shorts sales coming back again.

 

May 31, 2020 09:35 AM #24
Rainmaker
3,447,127
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debb Janes EcoBroker and Bernie Stea JD welcome home, Debb and Bernie! Looking forward to the stories of your "adventure."  Meantime, wishing you a lovely and relaxing Sunday.

May 31, 2020 09:55 AM #25
Rainmaker
3,447,127
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm hi Will... I believe that distressed property increases will very much depend on specific areas. Home price increases in the Charlotte area have provided a good deal of equity for many homeowners, so not sure they need to sell short if they do sell.

May 31, 2020 09:56 AM #26
Ambassador
4,207,925
Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Hi Nina:

No doubt this will interest those who keep hoping for a short sale of foreclosure bargain, but the odds are not in their.

We have very few in our area and I haven't actually had a buyer ask about them for a number of years.

Jeff

May 31, 2020 03:32 PM #27
Ambassador
3,981,880
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina short sales and foreclosures have also gotten a little tougher to find around here.  Nothing like it was a few years ago where there were foreclosures and short sales everywhere I turned.

May 31, 2020 04:12 PM #28
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