source: Realty Trac

RealtyTrac reports that sales of homes that were in “some stage of foreclosure or bank owned” accounted for 24% of all U.S. residential sales during Q4 2011. This is an increase from 20% in Q3, but down from 26% of all sales in Q4 2010.

Total foreclosure-related sales in 2011 were 907,138 — down 2% from 2010. The average sales price of homes in foreclosure or bank owned was $164,944 in Q4, down 5% from Q4 2010.

The average price of a foreclosure-related sale was 29% below the average price of a non-foreclosure sale in Q4. That “foreclosure discount” is smaller than Q3 (34%) and down from 35% foreclosure discount the prior year.

source: Realty Trac

Top metros to buy bank-owned
Among metro areas with at least 500 REO sales during the fourth quarter and where REO sales increased at least 5 percent from a year ago, the following posted the biggest discounts on sales of bank-owned properties.

Top metros to buy pre-foreclosure (short sales)
Among metro areas with at least 500 pre-foreclosure (short) sales during the fourth quarter and where pre-foreclosure sales increased at least 5 percent from a year ago, the following posted the biggest discounts on sales of pre-foreclosure properties. A few metro areas (Chicago, Atlanta and Seattle) are on both lists, demonstrating that buyers are finding substantial discounts on both short sales and bank-owned homes in these markets.