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Lake Park NC Real Estate Market Report--Year 2011

Lake Park NC Real Estate Market Report—Year 2011

How did the Lake Park NC real estate market fare during 2011 and how did 2011 market activity compare with the previous three years?

The tables below compare the Lake Park NC real estate market for years 2008 through 2011. 42 single family homes and 4 townhomes closed in Lake Park in 2011. The highest priced single family home sale was $312,000. The highest priced townhome sale was $123,000. Median days on the market decreased to 80 for single family homes and and increased to 108 for townhomes.

Single Family Homes in Lake Park NC

While the number of homes sold in Lake Park in 2011 increased to 2008 levels, the median price dropped 14.1% from 2010.

Single Family Homes

Lake Park Single Family Homes Year 2008 Year 2009 Year 2010 Year 2011
Median Sales Price $175,000 $172,000 $165,692 $142,250
Number of Homes Sold 45 23 24 42
Median Days on Market 37 60 143 80

Source: Carolina Multiple Listing Service

Townhomes and Condominiums in Lake Park NC

Only four townhomes or condominiums sold in Lake Park in 2011. The median price dropped to the lowest level in four years.

Townhomes and Condominiums

Lake Park Townhomes and Condos Year 2008 Year 2009 Year 2010 Year 2011
Median Sales Price $141,500 $133,450 $117,000 $95,600
Number of Homes Sold 13 10 12 4
Median Days on Market 52 118 184 108

Source: Carolina Multiple Listing Service

Types of Closed Sales in Lake Park NC

Nearly 80% of the homes sold in Lake Park were resales with distressed sales accounting for the rest.

Lake Park Sales Types Number of Closed Sales Percentage of Closed Sales
Resale 36 78.2%
New Construction n/a n/a
Foreclosure 7 15.2%
Short Sales 3 6.6%

Source: Carolina Multiple Listing Service

Copyright 2012. Carol Fox. Allen Tate Realtors. *Lake Park NC Real Estate Market Report—Year 2011*


Posted: Wednesday, January 11, 2012 1:20 PM by Carol Fox

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