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Charlotte foreclosed-home sales plunge 32 percent

Sales of foreclosure homes in the Charlotte metro area fell nearly 33 percent in the third quarter of 2010 from the same quarter last year, Irvine, Calif.-based RealtyTrac said Thursday.

Foreclosure homes accounted for 16.7 percent of all homes sold in the Charlotte metro area in the third quarter of 2010. During the quarter, 793 foreclosure homes sold in the Charlotte area, a nearly 31 percent drop from the second quarter of 2010, when 1,149 foreclosure homes were sold and accounted for 14.83 percent of all home sales.

In the third quarter of 2009, 1,176 foreclosure homes were sold, representing 16.07 percent of all home sales.

The average sales price for a foreclosure home in the Charlotte metro area was $140,255 in the third quarter of 2010, down from $146,856 in the second quarter of 2010 but more than the $139,227 a year ago.

Statewide, foreclosure-home sales accounted for 11.85 percent of all home sales in the third quarter 2010, during which there were 2,329 foreclosure homes sold, down nearly 27 percent from 3,182 in the second quarter of 2010, when foreclosure homes represented 10.21 percent of all homes sold. The third-quarter 2010 figure is also down from the third quarter of 2009, when 3,241 foreclosed homes were sold, which accounted for 10.89 percent of all home sales.

The average sales price for a foreclosure home in the state was $147,522 in the third quarter of 2010, down slightly from $148,489 in the second quarter. The average sales price in the third quarter of 2009 was $142,798.

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