RealtyTrac is an online marketplace for foreclosed properties. It finds the average price of a foreclosed home in Oregon was about $175,000 — between April and June. It says that’s a 27 percent discount on property that isn’t distressed. RealtyTrac spokesman, Daren Blomquist, says the number of foreclosure sales is dropping and that’s good news for sellers.
“Because there are fewer of these foreclosure sales and fewer of these foreclosures available, especially the bank owned properties, the average price is actually trending upwards. In Oregon, for instance, the average price of a property in some stage of foreclosure increased 7 percent on a year-over-year basis,” said Blomquist.