See a visual representation of distressed properties in our market!
One request we’ve frequently gotten from subscribers is to display data on Short Sales and Bank Owned properties. As a result, we have created brand new infographics to show how distressed properties identified as Short Sales or Bank Owned were represented in the 2010 housing market. This is the first report in an ongoing series that will show you how our local market has been affected by the economic downturn.
(Click the image to enlarge)
The above infographic shows a visual representation of the number of Bank Owned and Short Sales in all areas in the RMLS™ system during 2010. The top half shows new listings and sales for the entire year, while the bottom half shows new listings and sales by quarter. To download or print the infographic, click here.
Below are links to additional infographics for some of our larger areas:
Portland Metro
Clark County, WA
Lane County, OR
Douglas County, OR
*If you want information on percentages of distressed sales in other areas not represented by our infographics, please contact us at communications@rmls.com.
As can be seen from the above infographic, the percentage of distressed sales within the overall housing market greatly increased in closed sales compared to new listings. Additionally, the amount of Short Sales decreased by more than a third when comparing closed sales with new listings. The quarterly trend shows an increase of new listings which were distressed, particularly in Quarter 3 and Quarter 4. Looking at sales, Quarter 2 and Quarter 3 both show decreases in distressed sales compared to Quarter 1, and Quarter 4 ended with only a 0.1% rise in distressed sales compared with Quarter 1.
Here are some additional facts about distressed properties in 2010:
- Distressed properties comprised 24.1% of new residential listings, and 29.3% of residential sales.
- Short Sales were 11.8% of new listings, and 8.9% of sales.
- Bank Owned properties were 12.3% of new listings, and 20.4% of sales.