What's Happening in Gresham Real Estate Market?
The graph indicates the CURRENT active listings of homes for sale in Gresham. These include traditional sales, short sales and bank owned property.
The purpose of this graph is to give an overview of the percentages of Gresham homes that are currently on the market since they have now evolved into distinct segments, here's a good way to look at current activity of homes for sale in Beaverton.
How Are Properties Gresham Homes for Sale Listed?
- Traditional: A traditional home for sale in Gresham would mean it is NOT bank owned or being sold as a short sale. There is no third-party approval required. A Gresham home for sale that is a non-distressed sale.
- Short Sale: Homes for Sale in Gresham that do not have the current market value to pay-off an existing mortgage, or mortgages, may be sold as a "short sale."
- Banked Owned aka REO: There are some Gresham homes for sale that have been foreclosed on. They are bank owned, aka REO properties (real estate owned).
- Short Sale Offer Pending: When a buyer and seller have mutually agreed to terms on a short sale listing, the lender, or lenders, must approve the deal. The offer is accepted between buyer and seller but it waiting for bank approval. Homes for Sale in Gresham that are listed as a short sale, have buyer and seller mutual consent will continue to be marketed as ACTIVE until the bank has approved the short sale.
Gresham Homes for Sale in Numbers
Currently the numbers for homes in Gresham that are currently for saleare:
- Traditional Listings: 95 (45.45% of current Gresham homes for sale market)
- Short Sales: 52 (24.88%)
- Short Sale Pending: 29 (13.88%)
- Bank Owned: 33 (15.79%)
The Gresham area has under 50% of homes that are currently listed in a "traditional listing." That means over 50% of the homes currently for sale in Gresham are either short sales or bank owned. Gresham is Portland Metro's South Florida . . .
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Please see ActiveRains article Real Estate Recovery or Not?
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