The average resale price for a foreclosed home in Marin County in July was $332,591 lower than other homes on the market, according to a real estate information service and foreclosure listings firm.
RealtyTrac reported that the number of foreclosures in Marin continues to decline year over year. In July, the number of properties that received a foreclosure filing in Marin was 8 percent higher than in June but 50 percent down from the same time a year ago.
Home sales for June 2013 were down 6 percent compared with the previous month, and up 14 percent compared with a year ago. The median sales price of a non-distressed home in Marin in June was $829,000. The median sales price of a foreclosure home was $496,409, or 40 percent lower than non-distressed home sales.
Foreclosures hit Ross, West Marin and Novato the hardest in Marin. One in every 201 homes in Ross, which has fewer than 900 houses, were in foreclosure, while:
- One in every 322 were in foreclosure in Lagunitas
- One in every 438 were in foreclosure in Forest Knolls
- One in every 802 were in foreclosure in Novato
- One in every 852 were in foreclosure in Lagunitas
One of every 3,343 homes in Larkspur and one of every 1,375 homes in Corte Madera faced foreclosure last month, which was higher than the county average of one in every 1,296 homes being considered distressed properties in July.
Are you worried about losing your home? For more information from the Marin Housing Authority, visit the agency's website.