Cabarrus

Catawba property prices hold steady

The Catawba County tax office is almost halfway through estimating current values of all properties in the county, but it's already clear real estate sale prices are stagnant.

"We expect very flat values overall," County Manager Tom Lundy said.

Every four years, the county calculates the value of land and buildings inside its borders to reflect changing values. Historically those values have risen.

But because of the recession, that won't be the case this time.

Some types of real estate have been harder hit by the poor economy. According to preliminary figures, the value of industrial and commercial properties overall has declined as many mills and factories closed, leaving vacant buildings behind.

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