I have been surprised and delighted to receive comments from readers thanking me for sharing statistics in a reader-friendly manner, plus requesting that I keep the updates coming. OK, so here are Trendgraphix April stats for Puyallup: for short sales, there are 127 active short sales, 24 pending shorts and only 9 closed sales in April. This is a measurable decrease in all short sales categories, particularly the closed transactions. Not sure why, but I will be investigating. Bank-owned stats stayed pretty similar, i.e. foreclosed properties are selling quickly! April shows more traditional sale homes listed – very typical for this time of year – and fewer pendings than the previous month, fewer closed sales for traditional sale properties. I found that surprising, since the market remains busy and I, on a personal note, have closed mostly traditional sales (versus shorts or bank-owned sales) this past month.
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!