Quarterly Foreclosure Data Released
According to the latest MIBOR Quarterly Foreclosure Report, the foreclosure market in central Indiana shrank slightly in the 3rd quarter of 2011. During the July through September timeframe, foreclosures accounted for 20.9 percent of all closed sales; down nearly 5 percent from the same time period the previous year. New foreclosure listings declined slightly as well capturing a 11.2 percent market share versus 13.4 percent in the 3rd quarter of 2010.
The report also examines price. While all price points experienced foreclosures, the bulk of activity is in the $120,000 and below range. It seems demand for foreclosed properties was high in the 3rd quarter causing median sales prices to rise to $62,900, up from $57,000 in the same quarter in 2010. Traditional sales saw the opposite trend. With foreclosed sales pulled from the equation, traditional sales garnered a $145,290 median sales price in the quarter, down from $149,900 last year.