Published May 30, 2013
Bank-owned real estate accounted for 7.17% of residential real estate sales in South Carolina in the first quarter of 2013, according to a foreclosure sales report released today.
Nationally, REO sales were down more than 22%, according to data from national foreclosure tracking firm RealtyTrac. Sales of bank-owned property rose more than 30% statewide for the quarter compared with the same period last year, RealtyTrac numbers show.
Across South Carolina’s largest markets, bank-owned sales jumped by more than 61% in both the Spartanburg and Sumter regions, which were the largest increases for the quarter, the data show.
In actual numbers, Charleston, Greenville, Columbia and Spartanburg had the most REO foreclosure sales for the quarter. Charleston had the highest average price for sales of foreclosed property at more than $142,000, and Columbia’s quarterly REO sales numbers fell by more than half from the previous year.
Bank-owned real estate sales for Q1
REO sales in South Carolina rose by more than 30% in the first quarter of 2013 compared with the first quarter of 2012. Here is a snapshot of bank-owned sales in the state’s largest metropolitan statistical areas listed by number of actual bank-owned sales.
REO sales Q1
% change from 2012
*Figure includes all markets, and not just those listed above.