Many potential homebuyers will consider buying a foreclosed home because conventional wisdom says they will be able to purchase a home at a discount. Yet are foreclosures in Arlington sold at a reduced price?
When looking at the median sales price, Arlington County foreclosures are sold 54% less than the average non-distressed home (not a foreclosure or short sale.) According to RealtyTrac, the nation’s largest foreclosure reporting firm, in September of 2013 the median sale price of a non-distressed home in Arlington County was $516,500; while the median sales price of a foreclosure in Arlington County was $239,015; a 53.7% reduction or $277,485 savings.
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