Distressed Home Sales (REO, Foreclosures & Short Sales) compared with total home sales in Kitsap County for February 2012

The number of homes sold in Kitsap County during February 2012 increased 9.8% from the same period one year ago and were up over 20% from the previous month (January 2012) .  The total number of distressed properties (Bank Owned, REO’s, Foreclosures & Short Sales) Sold was up about 38% from the same period one year ago but identical to the number Sold in January.   Of the total number of distressed properties, the number of Short Sales comprising the total declined from the previous month to only 12. 

Graph comparing foreclosed, short sales & total home sales Kitsap County Feb 2012
Graph comparing foreclosed, short sales & total home sales Kitsap County Feb 2012

 

 

 

 

 

 

 

See our blog post for the Kitsap County Real Estate Data for February 2012 for a more detailed discussion about the effect of decreasing numbers of Short Sales compared to foreclosures being sold…here’s the link:  http://wp.me/p1lMbw-cf   There is a direct correlation between an increase in the number of foreclosures (Bank Owned) sold and a decline in real estate prices.

Thank You for visiting our blog.
We hope you found the information here useful and we welcome your comments or questions.

Brian Wilson, Broker
John L. Scott Real Estate

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