The number of foreclosed homes sold off in Riverside County during the first quarter of the year increased slightly compared to the previous quarter, dovetailing with activity statewide, a real estate tracking firm reported today.
Between Jan. 1 and March 31, 6,410 properties in some stage of foreclosure were put on the auction block in Riverside County, accounting for around 51 percent of all real estate sales countywide, according to Irvine-based RealtyTrac.
The first-quarter figure was 5.65 percent above the three months ending 2011, but the number of foreclosure sales was the same compared to a year ago, data showed.
The average selling price of a foreclosed residential property in Riverside County between January and March was $185,000, according to RealtyTrac.
Statewide, 62,492 foreclosure sales were recorded during the first quarter of 2012. The volume was 6 percent more compared to the last quarter of 2011 and 5.84 percent higher than a year ago.
The average selling price of a foreclosed residential property in California between January and March was $235,042, according to RealtyTrac.
Foreclosure sales accounted for 36 percent of all property transactions throughout the state. California had the largest number of sales in the nation, with Florida in a distant second place with 28,642 sales.