Distressed homes in the Augusta metro area – those on the market as foreclosures or short sales – are selling for a 28 percent discount compared to homes that are not distressed.
Online housing data company RealtyTrac said in its January foreclosure sales report that the median price for a distressed home was $74,200, up from $66,565 in December. A “normal” home was selling for a median price of $103,000 in January, RealtyTrac reported.
The national median sales price of U.S. residential properties – including both distressed and non-distressed sales – was $165,957 in January, down 3 percent from December.
The national distressed discount is 40 percent.