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 Edgewater sold at a reduced price?
When looking at the median sales price, Edgewater foreclosures are sold 34% less than the average non-distressed home (not a foreclosure or short sale.) According by RealtyTrac, the nation’s largest foreclosure reporting firm, in September of 2013, the median sale price of a non-distressed home in Edgewater was $364,000; while the median sales price of an Edgewater foreclosure was $240,000; a 34% reduction or $124,000.
While quite a reduction, it’s less of a discount than the entire state of Maryland (38.5%) but more than Anne Arundel County as a whole (30.2%.)
To find foreclosures listed for sale in Edgewater and throughout Maryland or any home listed for sale in any Maryland county, visit http://www.marylandproperties4sale.com/AnneArundel/ .