Baltimore Foreclosures: Do Buyers Save Money?

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 Baltimore County sold at a reduced price?

When looking at the median sales price, Baltimore County foreclosures are sold 30% 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 Baltimore was $220,000; while the median sales price of a foreclosure in the county was $153,545; a 30% reduction or $66,456. 

While quite a reduction, it’s less of a discount than the entire state of Maryland (38.5%.)

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