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The Impact of Average and Median Price on Tuscaloosa Foreclosures

Investing in Tuscaloosa foreclosures is not a bad idea. It is however crucial to mention that you must pay attention to the existing state of real estate market in this part of the world.

By delving more into the details, you will find that there are lots of homes available in this area to invest in. Besides finding homes in foreclosure you can find resale homes in this area. In fact, the majority of homes available in Tuscaloosa are for resale. Precisely, 69% of homes are available in this area for resale.

New homes are also there for you to invest in. According to the data collected on March, 2009 there were 228 available houses for sale. Amongst these homes, there were 158 new homes which were up for sale along with 70 foreclosure affected homes.

Now, even if you are interested only in Tuscaloosa foreclosures, you will still have to consider the market trend for average listing price along with the median price. Following graph is to help you spot both the trends.

This graph shows a decrease in average price right from Feb 25 till Mar 18. Though you can find that the decline in average price was there but it was not so drastic after March 11. It is however important to mention that the average price in Tuscaloosa for a square foot was $128, which was actually an increase in price of 75.3%.

Along with the average price, you need to pay attention to the median price. When you contemplate more on the median price you will find it to be at $189,000. This price was actually an increase in the median price of 550.6% as compared to the same period in last year.

After considering both these prices, it becomes pretty clear that there is some potential in the real estate market of Tuscaloosa. Although there is a decrease in the average in the average listing price but median price is getting better with time. Median price shows the value of homes in an area and the increase in median price shows that you can expect to get some profit by investing in this market.

The bottom line is that investing in Tuscaloosa foreclosures is a good option for all. But, you just can not afford to neglect the change in market trends. That’s exactly the reason why you must perform a complete research about the market before investing in any area.

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