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Short sales stats for 2008 - thus far

By
Real Estate Agent with JH Realty Partners 6501309180

I find statics very interesting.  GRAR has some great statisitcal information available to members.  I wondered how much of the market share was either bank owned - or short sale.  They acually have this tracked as much as they can, by tracking key words that are normally used for these kinds of properties, IE: sold as is, non-grar forms and so on.  Here is what we have year to date.

Month/Year

Short Sales

Dollar Volume

Total Sales

Dollar Volume

Short Sales Percentage

Dollar Perentage

1/2008

594

50,290,055

1189

147,796,498

49.96%

34.03%

2/2008

405

31,578,876

835

100,107,516

48.50%

31.54%

3/2008

471

40,521,892

957

114,978,849

49.22%

35.24%

4/2008

466

43,566,478

1067

142,377,299

43.67%

30.60%

5/2008

446

39,387,598

1111

145,774,884

40.14%

27.02%

6/2008

468

38,595,858

1028

130,463,503

45.53%

29.58%

7/2008

172

15,951,577

350

45,255,792

49.14%

35.25%

So we hold pretty steady with short sales and bank owned homes owning 1/3 of the market place.  January was our big month thus far.........I remember saying this is the month I get all my marketing together and I did not have time.........I was too busy.........well the numbers prove it, it WAS a busy month! 

 

Posted by

Michelle Gordon is a Realtor with JH Realty Partners - Ada, Michigan -  With a team of Realtors who's Focus is 1st time home buyers, Relocation, Luxury listings and Commercial Properties in West Michigan.  You may find Michelle on facebook, twitter or linked in and she invites you to join her.

Comments (6)

Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes

That's great that your association is tracking that information. I can say ours is lacking in even the fact to put a true short sale field in our MLS. I am going to have to run my own numbers.

Jul 16, 2008 01:50 AM
Michelle Gordon
JH Realty Partners - Ada, MI
Finding Your Place

Yes, I wish we had a field as well...........but this is better then nothing at all.  I was running my own till they did this. 

Jul 16, 2008 02:03 AM
Anonymous
RC Cutcher

Michelle,

Couple of questions about the info.   Was December 20007 anywhere close as busy for you Michigan Relators as January?  I am tracking my own marketing costs to make some advertising dollars available for the Winter months if you tell me that these figures held steady for most of the winter in Michigan.  My own market here in Texas is experiencing a rapid increase in Short Sales and we may follow your example of folks getting rid of their long term debt and entering the rental market in the winter months.

 

Also, why the drop off between May and June?  Any theories about that?

 

RC Cutcher
Realtor, ABR
Austin Texas Homes, LLC
www.austintexashomes.com
rcutcher@austin.rr.com
512-848-4449
icandoallthingsthroughCHRISTwhostrengthensme.phil4:13.

Jul 16, 2008 03:31 AM
#3
Anonymous
RC Cutcher

Sorry, I misread the chart.  Between June and July...what happened in your market?  Thanks :)

 

RC Cutcher
Realtor, ABR
Austin Texas Homes, LLC
www.austintexashomes.com
rcutcher@austin.rr.com
512-848-4449
icandoallthingsthroughCHRISTwhostrengthensme.phil4:13.

Jul 16, 2008 03:33 AM
#4
Michelle Gordon
JH Realty Partners - Ada, MI
Finding Your Place

I was busy all winter long this past winter!  The "new" market has had me re-think my normal activity!  With bank owned and 1st time home buyers being my major player in my business, I am just now starting to feel like I can breath and take a day off here and there.  My number of sales have increased but the $ dollar amount has stayed about the same.........much more work for the money.

July is an incomplete month.........I will update again once July has played out.

Jul 16, 2008 03:38 AM
Anonymous
RC Cutcher

Thanks Michelle. 

RC Cutcher
Realtor, ABR
Austin Texas Homes, LLC
www.austintexashomes.com
rcutcher@austin.rr.com
512-848-4449
icandoallthingsthroughCHRISTwhostrengthensme.phil4:13.

Jul 16, 2008 08:20 AM
#6