Commercial Development News - Appraisal Development International

Foreclosures account for 37% of Florida home sales in 3Q
By Mark Puente
St. Petersburg Times
Published: Dec 3, 2010

Foreclosure sales in Florida accounted for nearly 37 percent of all home sales in the third quarter. The state recorded 34,186 foreclosure sales with an average price of $120,030, according to a RealtyTrac report released today. The figure represents a 7.65 percent drop compared with third quarter 2009 and a 13.34 percent decline from the second quarter of 2010. Still, the Sunshine State ranked fourth in the foreclosure sales and had an average discount of 28.23 percent on each sale, the report said. Foreclosure sales in Arizona, California, Georgia, Florida, Idaho Illinois, Massachusetts, Michigan, Nevada and Oregon topped the national average of 24.89 percent of all sales in the third quarter. Nevada fared the worst with 54 percent of sales coming from foreclosures. Nearly 189,000 homes are in various stages of foreclosure across the country.