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Foreclosures make up one-quarter of Q2 Illinois home sales

by Chicago Agent

Almost one-fourth of all homes sold in Illinois during the second quarter of this year were foreclosures.

A report released Thursday by Irvine, Calif.-based RealtyTrac shows there were 8,909 second-quarter foreclosure sales, accounting for 24.32 percent of all homes sold in the state. That was an increase of almost 5 percent from the first quarter of 2010.

Also, the average sales price of Illinois properties that sold while in some stage of foreclosure was almost $140,000 in the second quarter.

That’s 37 percent below the average sales price of homes that weren’t being foreclosed on.

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