Similar homes sold for an even higher average discount in Montgomery County: 48.3 percent.
The number of distressed homes sold in the county rose nearly 8 percent to 539 during the quarter. That represents 25 percent of all homes sold during the period. The average price was $64,112, RealtyTrac said.
In all, 188,748 U.S. homes in some stage of foreclosure were sold in the July-September period, accounting for a quarter of all U.S. residential property sales, RealtyTrac said. Five years ago, foreclosure sales accounted for just 1 percent of all sales.
The transactions include sales of newly built homes and previously occupied properties. Foreclosure sales include homes sold by banks and short sales — when the homeowner and the bank agree to sell the property for less than what is owned on the mortgage.
Steve Brown of Irongate Realtors had not seen the RealtyTrac figures, but said foreclosures generally have the worst effect on home prices in neighborhoods where there are large numbers of distressed properties, rather than one or two. Most sellers in the Dayton area are able to sell their homes for within 5 percent of the most recent list price, he said.
Sales of foreclosure homes are trending down nationally. Even before foreclosure document snags surfaced, the foreclosure process began to slow as lenders stepped up attempts to modify loans.
Lenders also appear to be managing their stock of repossessed homes, not wanting to flood the market with too many properties.
The Associated Press contributed to this report.
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