Indianapolis Foreclosures Update

Since foreclosures are such a hot topic right now, I thought I would share a few statistics about the Indianapolis foreclosures market:

- There are currently 587 foreclosures and bank owned homes for sale.
- The average asking price for these is $69,291.
- There are currently 336 pending foreclosures with an average asking price of $53,877.
- In the past 12 months, 3117 bank owned homes have sold in Indianapolis.
- The average sales price for the past 12 months was $53,877.

As you can see the foreclosure market in Indianapolis is substantially below the average for the rest of the Indianapolis real estate market. Another factor that is not considered here is Indianapolis short sales. A short sale is when the owner has fallen behind on the mortgage and they owe more than the house is worth. These short sales have a big impact on the market as well. I will also be posting about Hamilton County foreclosures and expect to see a whole different set of numbers. You can always visit our Indianapolis real estate blog to stay up to date as well.