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I've had a couple of people comment to me recently that there seemed like a lot of foreclosures (Bank owned) property on the market. I was thinking the bank owned inventory was down a little so I did some checking on market conditions for foreclosed properties.
Market Absorption Trend : Northern Kentucky
Neighborhood: all Lender Owned in Northern Kentucky
* Single family residential only, excluding condos
All SFR excl condos
Market Activity in the Past:
Listings Currently Active on MLS:
Months of Supply on Market
% of total Market
Average List Price:
Average Sales Price:
Average Days on the Market:
Market Absorption Analysis:
6 Months Supply = Balanced Market
Less than 6 Months Supply is Sellers Market
More than 6 Months Supply is Buyers Market
Please Note: Data obtained from NKMLS is deemed reliable but not guaranteed
Where is your neighborhood in the market?
Give us a call and we can help you determine where you stand.
CENTURY 21 Garner Properties
Independence Office 859-363-9900
Bank owed properties accounted for almost 27% of sales for the last 30 days. The bank owned inventory is dropping fast. Although we are still receiving new listings for bank owned property on a daily basis, the indications are that the banks are succesfully negoiatiing many buyers out of foreclosure. That fact, coupled with December is typically a very low foreclosure month (the banks hold off until January), the bank owned inventory is actually reducing rather than increasing.
If your an investor or have any interest in purchasing a foreclosed home. Now is the time to buy!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.