Well, it’s clear that the bank-owned properties are winning when it comes to statistics of how quickly homes are selling in Puyallup (including Edgewood). March stats show 37 active bank-owned properties (about 1/16 of the market of all 518 active properties in Puyallup), 59 pending bank-owned homes (those that have caught offers and are waiting to close the sale); and 52 sold/closed bank-owned homes. Average price per square foot for these homes is $81; average days on market is 68, and average sales price is $163,000. There is less than a one-month inventory of homes, meaning that they all sell fast! Bank owned properties are a great choice, but they do have their unique characteristics (priced compellingly, often times multiple offers, many are cash-only or able to be financed only with a rehab loan, etc.). If you’d like more information about purchasing a bank-owned home, please give me a call!