Lower Inventory of Short Sale Listings Make Buying Easier!

Real Estate Agent with john greene Realtor 475.137677

It's been a S-L-O-W market over the last 2 months.  The winter has been brutal!  I'm so excited about the spring market, especially after going over some of the short sale stats here in Plainfield IL!

Right now there are 329 active single family listings in Plainfield.  42 of those listings are short sales comprising just 12.7% of the active market.  We are still at a lower inventory of homes available in general, but it has been an extremely cold and snowy winter.  A lot of buyers are holding off on listing their homes for sale until the weather improves.

To compare two neighboring communities; Naperville IL currently has 380 single family active listings on the market.  Just 16 of those homes are listed as short sales, making up a tiny 4.2% of their active market.

Joliet currently has 329 active single family listings (the same as Plainfield) and 60 of those lisitngs are short sales, making up 18.2% of their active market.

This is great news for buyers who have been waiting to purchase a new home.  Bank owned homes or REO's could still be a dominating factor for home values, (which are nearly impossible to calculate on active listings using my resources) but the ability to close quickly with minimal delays is sometimes more valuable. 

Comments (1)

Roy Kelley
Retired - Gaithersburg, MD

When considering that forgiven debt may have tax consequences, many prospective short sale sellers are watching to see if congress takes action.

Feb 18, 2014 05:55 AM