In its fourth quarter and year-end U.S. Foreclosure Sales Report, which reports total number of foreclosed home sales as well as average sales price of these properties, RealtyTrac, Inc. reported New York State total foreclosure sales decreased significantly both from the previous year and the previous quarter.
According to the report, there were 7,877 foreclosed homes sold in New York in 2011, accounting for nearly 6 percent of all sales in the state. Foreclosed home sales were down 28.92 percent from 2010 and 32.18 percent from 2009. The average annual sales price of these homes was $279,154 representing an average discount of 32.18 percent from non-foreclosure sales.
In addition, the report shows that there were 350 total foreclosed homes sold during the 2011 fourth quarter, a 25.21-percent decrease from the third quarter and nearly 50-percent below the 2010 fourth quarter.
Nationally, there were 907,138 total foreclosed homes sales in 2011, a 2.21-percent decrease from 2010 and a 13.72-percent decrease from 2009. These sales accounted for nearly 23 percent of all homes sold in 2011. With an averages sales price of $164,349, these foreclosed homes sold at an average 32.61-percent discount from non-foreclosed sales.
To read the entire RealtyTrac press release, click here.
For more statistics and trends from RealtyTrac, click here.