DC Metro November 2011 Real Estate Market: Foreclosed Sales/Inventory (Way) Down, Short Sales Up
As we touched on in the November DC market analysis ,
there has been a significant drop-off in market activity for foreclosed
properties. The top four graphics highlight this decline, but you'll
also notice an uptick in short sales during the same time period. The
last two graphs illustrate how these shifts can impact median sales
price trends. Note that the median sales price for "standard" sales
(those not involving a short sale or foreclosure) is up 3.4% compared to
November 2009 while the median sales price for bank-mediated inventory
is down significantly over the same period: 23% decline for foreclosures, 20% decline for short sales.
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