Maple Valley Short Sales closed between Junuary 1 through December 31 of 2013 declined in numbers over the prior year by approximately 14.5%.
In 2013, there were 104 Single Family Residential Short Sales closed, compared to 122 in 2012.
A small price bump put some homes into a positive equity position and is partially responsible for the lower numbers, but the general decline in inventory for the first half of the year is, in my opinion, the greater influence.
The lowest priced Short Sale closed at $125,000 and the highest priced sale was $640,000.
33% of the total sales fell within the $250,000 to $299,999 price bracket.
On average, these properties were on the market for 46 days.
The average price of a Maple Valley short sale for 2013 was $279,046.
With the recent expiration of the Mortgage Debt Forgiveness Act, it will be interesting to see if this trend continues to spiral down or if owners will continue to opt for a short sale over foreclosure.
Only time will tell.
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