RealtyTrac, the leading online marketplace for foreclosure properties, released its most recent foreclosure sales report that shows that properties in some stage of the foreclosure process made up almost a third of property sales in the first quarter of this year.
The firm reported that bank-owned homes and those in some stage of foreclosure accounted for 28% of all U.S. residential sales in the first quarter of 2011, up slightly from 27% of all sales in the fourth quarter of 2010 and the highest percentage of sales since the first quarter of 2010, when 29% of all sales were foreclosure sales.
The average sales price of properties in some stage of foreclosure–default, scheduled for auction or bank-owned–was $168,321, down 1.89% from the fourth quarter of 2010 and down 1.46% from the first quarter of 2010.
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