Heading into this new year there are 467 single family homes for sale in the foothills, and 39 of them are either short sales or foreclosures -
19 short sales/20 foreclosures – so 8% of the total homes for sale are distress sales.
29 are priced from $0 to $599,999 (29 of 260 total for sale = 11%)
5 from $600,000 to $999,999 (5 of 116 total for sale = 4%)
5 from $1,000,000 & up (5 of 91 total for sale = 5.5%)
The average/median list price of the group is $528,399/$334,900
With just 8% of the homes for sale, distress sales are, for now anyway,
a fairly light burden to bear. But buyers have a real sweet tooth for foreclosures and short sales and, consequently, they sell at a higher rate, relative to the number available, than do normal sales.
585 homes sold last year, and 128, or almost 22%, were distress sales.
102 sold from $0 to $599,999 (102 of 441 total sales = 23%)
20 sold from $600,000 to $999,999 (20 of 105 total sales = 19%)
6 sold from $1,000,000 & up (6 of 39 total sales = 15%)
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