Foreclosed Homes Average $200K Lower Sales Price in July

The average resale price for a foreclosed home in Santa Cruz County in July was $200,000 lower than other homes on the market, according to data released by RealtyTrac. 

Also, the number of foreclosures in the county continues to decline. It was 17 percent lower in July than in June and down 71 percent from a year ago, the real estate trends service reported.

Home sales for June 2013 were down 17 percent compared with the previous month, but increased 23 percent when compared with a year ago. The median sales price of a non-distressed home was $555,500. The median sales price of a foreclosure home was $355,500.

Foreclosures hit South County and the San Lorenzo Valley the hardest. One in every 1,060 homes in Watsonville and 1 of every 1,122 in Freedom were in foreclosure. The rates were higher in mountain communities, such as Boulder Creek (one in 735) and Brookdale (one in 352). Countywide, one in every 1,534 homes were considered distressed properties in July.

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Are you worried about losing your home? Contact the county Housing Authority for assistance by clicking here.