These days everyone is talking about the great deals to be had by purchasing a foreclosed home. But how much money is there really to be saved? Actually, quite a bit.

The latest numbers from RealtyTrac show that for the month of March, the average purchase price of a non-distressed home in Pennsylvania was $182,500. This compared with the average purchase of $120,371 on a foreclosed home in Pennsylvania, which works out to an average savings of about $62,000, or 34%. This is even higher than the national average savings for March, which came out to roughly 30%. Take a look at the graphs below for details.

Average Sales Price - Savings on Foreclosures in Pennsylvania

Average Sales Price - Savings on Foreclosures in the United States

With the money to be saved and some of the great homes available on the market right now, it makes sense to consider purchasing a foreclosure when looking for your new home.

You must be logged in to post a comment.