Prices for foreclosed homes in Nevada jumped this year as sales volume plummeted, underscoring the states high demand and slim inventory.A total of 5,560 homes that were bank-owned or in some stage of foreclosure were sold in Nevada in the quarter ending Sept. 30. Thats down 51 percent from the same period last year, according to a report out today from Irvine, Calif., research firm RealtyTrac. The majority of the sales, 4,650, were in the Las Vegas Valley.The average sales price was $139,301, up 12.5 percent from a year earlier. However, buyers of distressed homes received an average discount of 17.8 percent compared to buyers of non-distressed homes.
via Shrinking volume, rising prices for foreclosed homes in Nevada – VEGAS INC.
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