Numbers/Results for November 2012
The inventory, at the beginning of December, for the cities we cover, is 2788 which is a 13% drop year over year. This includes 96 REO’s (bank owned ) and 107 Short Sales: representing 7% of the inventory for distressed properties compared to 13% year over year. (so the number of distressed properties has dropped significantly). This is bringing a raise in prices of about 5% year over year. The homes have sold on average of 95% TO 104% of the asking price. We are far from the times where we presented offers at 10 to 15% under the asking price!!!