Median Residential Sales Price Holds Steady

The latest news from the RealtyTrac Residential Sales Report indicates the national median sales price of all residential properties, including distressed and non-distressed, remained at $170,000, the same as Sept., but six percent higher than a year ago Oct. Additionally, HousingWire says this marks the 18th consecutive month of median sales price increase on an annualized basis. The median price of a distressed property, either bank-owned or in foreclosure, hit $110,000 in Oct., 41 percent below the median price of $185,000 for a non-distressed property. MHProNews has learned rapidly rising home prices is shifting disposition of distressed properties away from short sales and back toward bank-owned and auction sales that are more favorable to lenders. Short sales made up 5.3 percent of all residential sales in Oct., down from 6.3 percent in Sept., and an 11.2 percent decrease from Oct. 2012.

(Image credit: floridaforeclosuredefenselawyer)

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