RealtyTrac numbers show that Carroll County had 1,267 foreclosure sales in 2012, compared with 1,312 in 2011. The average sales price rose from $74,759 in 2011 to $76,185 in 2012. RealtyTrac is the leading online marketplace for foreclosure properties.
But foreclosure sales in 2012 were still 47.8 percent of all housing sales, up slightly from 40.5 percent in 2011.
“We’re seeing a lot of demand now and we have a lot of buyers with fewer houses to choose from,” said Rett Harmon, past president of the West Metro Board of Realtors. “The average sales price is coming back up. It’s a recovery, but a slow one.”
“It appears we’re continuing to sell through our foreclosures, which is necessary for the housing market to improve and home values to increase,” said Chris Collier, executive officer of the Westside Home Builders Association. “Compared to other counties, Carroll County is showing more price stability. Hopefully, this will result in a stronger market this year.”
Collier said that as the housing market improves, there are still many good opportunities for new home purchases at low prices and low interest rates.
Adjacent counties showed small increases in foreclosure sales and a mixture of up and down figures in average sales prices.
Douglas County had 1,798 foreclosure sales in 2012, up 17.3 percent from the previous year, with 1,532 sales. The average home sales price dropped from $97,789 in 2011 to $80,978 in 2012, a 17.2 percent decrease. Foreclosures represented 52.1 percent of 2012 sales.
Activity in foreclosure sales was lower in Coweta County, but the number climbed from 895 in 2011 to 971 in 2012, an 8.5 percent increase. The average sales price did improve, from $124,765 in 2011 to $125,723 in 2012. Foreclosures were only 35.3 percent of all sales.
Paulding County showed a similar gain in foreclosures sales, from 1,125 in 2011 to 1,320 in 2012, a 17.3 percent increase. The average home sales price dropped from $102,721 in 2011 to $83,193 in 2012. Foreclosures were 50.6 percent of total home sales.
Haralson County figures showed little change from 2011 to 2012.
Total Haralson foreclosure sales rose from 188 to 189, a 0.5 percent increase, while average home sales prices dropped slightly from $62,433 to $61,779, a 1 percent decrease. Foreclosures were 29.5 percent of all 2012 sales.
Heard County had 33 foreclosure sales in 2012, up from 28 in 2011, a 17.9 percent increase. Average home prices rose from $65,147 in 2011 to $66,604 in 2012, a 5.3 percent increase. Foreclosures were 22.9 percent of all 2012 sales.
Statewide, foreclosure sales increased in number from 58,809 in 2011 to 63,370 in 2012, a 40 percent increase. The average home sale price dropped from $117,750 in 2011 to $102,298 in 2012, a 13.1 percent decrease. Foreclosure sales were 37.8 percent of homes sold last year in Georgia.
U.S. totals were brighter. They showed foreclosure sales down 11.5 percent in 2012, compared with 2011. The 2012 figures showed 947,995 foreclosure sales, compared with 1,005,711 in 2011. The average home sale price rose from $164,106 in 2011 to $167,146 in 2012, a 1.8 percent increase. Foreclosure sales were 21.4 percent of all U.S. home sales.
“Although foreclosure-related sales represent a shrinking share of total sales, primarily because of fewer bank-owned purchases, distressed sales are still a disproportionately high portion of the overall housing market,” said Daren Blomquist, vice president of RealtyTrac.
“And while distressed properties — whether bank-owned, pre-foreclosure or short sales not in foreclosure — are still selling at a significant discount compared to non-distressed properties, average distressed property prices are increasing in many markets thanks to strong demand and limited inventory.”