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RealtyTrac: 2Q foreclosure sales prices up, sales down

Jacksonville foreclosure home sale prices were up in the second quarter, and the number of foreclosure sales was down nearly 50 percent.

Jacksonville foreclosure home sale prices were up in the second quarter, and the number of foreclosure sales was down nearly 50 percent.







Michael Clinton
Web Producer- Jacksonville Business Journal

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Jacksonville foreclosure home sale prices were up in the second quarter, and the number of foreclosure sales was down nearly 50 percent, Irvine-based RealtyTrac reported Aug. 30.

Jacksonville had 966 sales involving foreclosed properties in the second quarter, compared to 1,844 in the first quarter, or an decrease of 47.6 percent. The second quarter foreclosure sales were also down 47.7 percent from the 1,850 sold in the second quarter of 2011.

The average foreclosure sales price in the second quarter was $121,487, up from $106,025 recorded in the first quarter and $104,724 in the second quarter of 2011.

The percentage of sales involving foreclosed properties in Jacksonville, 22.5 percent, was higher than the statewide average of 20.8 percent and the national average of 22.75 percent for the second quarter. But that was down from the 25.4 percent in the first quarter and up from the 20.38 percent of the market in the second quarter of 2011.

The average discount for foreclosed properties was 32 percent in the second quarter, compared to 25.7 percent in the first quarter and 34.3 percent in the second quarter of 2011.



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Article source: http://www.bizjournals.com/jacksonville/news/2012/08/31/realtytrac-2q-foreclosure-sales.html

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