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Montgomery Foreclosures: Do Buyers Save Money?

RealtyTrac: Montgomery Foreclosure/Non-Distressed Sales Comparison
RealtyTrac: Montgomery Foreclosure/Non-Distressed Sales Comparison

Many potential homebuyers will consider buying a foreclosed home because conventional wisdom says they will be able to purchase a home at a discount. Yet are foreclosures in Montgomery County sold at a reduced price?

When looking at the median sales price, Montgomery County foreclosures are sold 41% less than the average non-distressed home (not a foreclosure or short sale.)  According by RealtyTrac, the nation’s largest foreclosure reporting firm, in September of 2013, the median sale price of a non-distressed home in Montgomery County was $390,000; while the median sales price of a foreclosure in the county was $275,100; a 41.2% reduction or $179,250. 

While quite a reduction, it’s actually down 0.8% from August 2013, however it’s more of a discount than the entire state of Maryland as a whole (38.5%.)

To find foreclosures listed for sale in Montgomery County and throughout Maryland or any home listed for sale in any Maryland county, visit http://www.marylandproperties4sale.com/Montgomery/ .

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