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Less Than 5 Percent of Massachusetts Home Sales are Bank-owned Properties

By
Real Estate Agent with Buyers Brokers Only, LLC

A total of 1,884 Massachusetts single-family home sales were of bank-owned properties, representing 4.5 percent of all single-family homes sold in 2009, The Warren Group reported January 26, 2010.

Bank-owned properties accounted for 5.2 percent of all single-family home sales in Massachusetts in 2008.

A total of 1,035 sales were of bank-owned condos, accounting for 5.5 percent of all condo sales last year. That is an increase from 2008, when Massachusetts bank-owned condo sales represented 4.5 percent of all condo transactions.

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David Cahill
Century 21 Cahill Associates - Boston, MA

About 10% of my sales from last year were bank owned properties, but 30% were short sales!  I guess it depends on where you work and what type of listings and clients you work with!

Jan 31, 2010 03:32 PM