However, foreclosures can be beneficial for buyers looking for a great deal on a new home, especially in the Missouri real estate market. ?New data reported by Realty Trac Inc.?shows that Missouri ranks third in average foreclosure sales price behind only Michigan and Ohio. ?The average foreclosure sales price was $82,293 at the end of the first quarter of 2012. ?This is nearly half of of the national average foreclosure price of $161,124 causing many to view the market in St. Louis as a great place to buy!
Further examination of the data released by Realty Trac shows that the Missouri real estate market had a 22.3% increase in foreclosure sales from the last quarter of 2011. ?In total, foreclosure sales made up 23.3% of all MIssouri sales from January ? March, 2012. ?This is below the national average of 26% for the same quarter.
Many experts agree that the real estate market is entering a recovery period and that the median home price will rise. ?If you?re hoping to enter the market with an affordable foreclosure property, now may be the perfect time to buy!
Contact the?Linda Frierdich Real Estate Team?today if you?re ready to make a serious move in the Missouri real estate market.
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