Southington Connecticut Short Sale Report - 2012
Short sales are 8% of the current market inventory in Southington CT. There are currently 381 homes on market in Southington CT with 32 of those homes are listed as short sales.
However, short sales make up just 4% of Southington's sold inventory for the past 12 months. 417 homes have sold in Southington in the past 12 months with 15 of those homes being short sales
On its face this would sound as if only half of homes in Southington listed as short sales actually close...or...short sale inventory in Southington has doubled in the last year. Further examination of the mls data shows that 6% of all listed inventory in the last year was short sales, and also that the market share of closed short sales has actually grown since the prior 12 month period...leaving a little of both assumptions to be true. While numbers can be interpreted many different ways we can safely assume from the data that:
- Not all homes in Southington CT listed as short sales close
- The ratio of Southington CT short sales is growing
What would that mean to a homeowner considering a short sale in Southington? It would mean you are definately not alone as 1 in every 12 sellers in town is also attempting to short sell. It also means that since many Southington homeowners attempting to short sell actually fail - you will definately want to get the best representation possible to increase the odds you will be among those who successfully short sell.