Almost a quarter of all homes sold in Illinois was a foreclosure sale, according to the AP (“Foreclosures make up one quarter of Q2 Illinois Home Sales“, Sept. 30):
A report released Thursday by Irvine, Calif.-based RealtyTrac shows there were 8,909 second-quarter foreclosure sales, accounting for 24.32 percent of all homes sold in the state. That was an increase of almost 5 percent from the first quarter of 2010.
Also, the average sales price of Illinois properties that sold while in some stage of foreclosure was almost $140,000 in the second quarter.
That’s 37 percent below the average sales price of homes that weren’t being foreclosed on.