MIBOR report on Foreclosures in Indianapolis

Fast Track Market Spotlight
 

MIBOR Releases Foreclosure Report

The 2nd Quarter 2012 Foreclosure Report issued by MIBOR reveals that foreclosed homes made up only 6.7 percent of all active listings in the second quarter. However, 14.5 percent of all new listings were in foreclosure. The market share of closed foreclosure sales – 19.6 percent – is down from 24.1 percent at this time last year, but the market share of foreclosed new listings is up from 10.0 percent last year. According to the report, prices are beginning to rise. They’ve increased for the past four consecutive quarters. The overall median sales price was up 6.3 percent, marking the largest year-over-year gain since Q1-2010. Even so, foreclosures yield an average of 86.8 percent of list price while traditional homes yield 91.3 percent. Click here for full report. 

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