lake norman real estate

Lake Norman Real Estate: Developer Close-Out Auction in Davidson!

Lake Norman Condos for sale in Davidson

Would you like to own a part of one of Lake Norman’s trendy new mixed-use Urban Villages?  Mark your calendars for Saturday, April 18th at 10:00am when 17 new residential condominiums located in the popular South Main Street District in Historic Downtown Davidsonwill be sold by auction.

The scoop:  5 of these condos are going to be sold at “ABSOLUTE AUCTION” which means there is no reserve.  The highest bidder buys regardless of the price!  The other 12 condos will sell subject to the sellers confirmation.

The history:  Pre-selling of these “Condos in South Main Square” began in 2007.  5 sold through our MLS at prices from $129,900 for a 550 square foot “garden condo” to $247,595 for an 1132 square foot 2-bedroom 2-bathroom patio condo. The rest of the units for sale on the MLS were withdrawn several months ago.  17 of these will be in this auction.

The facts: There are 17 units with 4 floorplans ranging in size from 1072 to 1132 square feet.  All of the units have 2 bedrooms and either 2 or 2.5 bathrooms. 10 of the units are actually 2 level townhomes.  The listing prices for these 17 units before they were withdrawn from the MLS ranged from $198,100 to $248,500.  Financing is available from Peoples Bank.  The auction itself is being held at Campania Cafe which is located at 416 S. Main Street adjacent to the condos.  For more information: Interstate Auction, for photos, floorplans, contracts, instructions on how to bid and buy at the auction and other important information.

Open Houses:  Every Saturday and Sunday from 1pm – 5pm or by appointment. (704.892.6923) until auction day.

If you are looking for new construction in a truly walkable neighborhood that is part of the Davidson Main Street Arts District and close to Davidson College, minutes to the I-77 and only about 25 miles to Charlotte, this might be a great opportunity for you.

I would caution that there are a number of townhomes and condominiums currently for sale in the Davidson community some of which are new construction and some re-sale.  Sales are very slow so know your comparable sales before bidding. It is hard to know whether these will be bargains until the day of the auction.


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