Tighter Market for Foreclosures

The Q3 2013 Foreclosure Report issued by MIBOR reveals that foreclosed homes made up 15 percent of all central Indiana closed sales in the third quarter of 2013. This is down from the 20.8 percent market share in the same quarter of 2012 and 20.9 percent in 2011. Foreclosure listings represent 11.3 percent of all listings in the third quarter of 2013.

The majority of foreclosures remain in the $120,000 and below price point.
The median foreclosure sales price was up 5.2 percent to $66,300. In the third quarter of 2013, foreclosures yielded an average of 88.4 percent of list price while traditional sales yield 93.6 percent.

The last page of the report includes a breakdown of foreclosure inventory, closed sales and median sales prices by county.

Check out the full report here: http://www.mibor.com/pdfs/MIBOR_FSS_2013-Q3.pdf

Avery Garrett is a top Indianapolis Realtor serving the Indianapolis Metropolitan area from Coldwell Banker Kaiser. Avery is Zillow.com Premium 5 Star Agent, and is a Member of the Metroplitan Indianapolis Board of Realtors. Contact Avery for a complimentary, no obligation, Market Analysis of your home at 317-721-2274, or SoldByAvery@gmail.com. See Avery's reviews and search for a home at www.SoldByAvery.net.

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