Real Estate Blog

National Foreclosure Statistics Summary

Inventory is down 35% from June 2013. That is 32 consecutive months with year over year decline in foreclosure inventory. Florida is still ranked as #2 State with the Most Foreclosures.

Northeast Florida Distressed Property Summary

There are currently 681 distressed properties on the market in Northeast Florida. The average list price is $152,424. Banks are looking to move these properties fast. So we have seen a good number of these properties with a price reduction in the last 30 days. The average price reduction was 5.41% which is pretty hefty.

Luxury Distressed Property in Northeast Florida

Distressed properties do not mean non-luxury properties. The highest prices distressed home is on the market at $2,000,000 and the biggest home 7,017sf. However, the aerage distressed home is a 3 bedroom 2 bathroom 1906sf home for $152,424.

Average Cost of 3 and 4 Bedroom Distressed Properties

The average 3 bedroom is on the market for $117,192, 4 bedroom for $201,855 and 5 bedroom for $327,657.

St. Johns County Distressed Property

In St. Johns County we only have 77 distressed properties or just over 11% of distressed property are located in St. Johns County. An amazing 99% of these homes have been reduced in the past 30 days with an average reduction of $6,871.

Price Range of St. Johns County Distressed Property

In St. Johns County the distressed homes only range from $29,000 to $634,000 with an average 2,274sf. Whereas the average distressed 4 bedroom in Northeast Florida is $201,855 in St. Johns County $310,052. So you are paying over $100,000 more to be in St. Johns County!