The National Association of REALTORS® recently reported that foreclosures nationwide sold for an average discount of 17 percent below market value in November. But in some places, the discounts may be even deeper.
If buyers are looking to snag a big discount on a foreclosure, they may want to look in Ohio. A new study from RealtyTrac shows that Ohio has five cities in the top 10 places offering some of the largest discounts on foreclosed homes.
According to the RealtyTrac study, the following cities offer some of the biggest discounts on foreclosures:
- Fort Myers, Fla.: 65% average discount on foreclosures
- Columbus, Ohio: 63%
- Cleveland, Ohio: 63%
- Fresno, Calif.: 62%
- Pittsburgh, Pa.: 60%
- Atlanta, Ga.: 57%
- Canton, Ohio: 56%
- Cincinnati, Ohio: 55%
- Akron, Ohio: 55%
- Memphis, Tenn.: 54%
- Vero Beach, Fla.: 51%
- Dayton, Ohio: 51%
- Richmond, Va.: 49%
Source: RealtyTrac