The year end report for the central Indiana market is just out, and the number of foreclosures has continued to decline. They comprised just 7% of all closed sales in 2016, and inventory fell 38% year-over-year; making the year end foreclosure inventory the smallest this century.
Somewhat surprisingly, the median average sale price dropped 4% to $65,000. One would’ve thought that with declining inventory the average price would have risen— especially since the average price of all other houses rose double digits.
If you’d like more info on the foreclosure market or on how might affect you— call me. I work harder to make good things happen!