The chart below shows the number of bank owned/REO and short sales in all areas of the RMLS™ system during 2012.
All areas when comparing percentage share of the market 2011 to 2012:
• Comparing 2011 to 2012, distressed sales as a percentage of closed sales decreased from 33.5% to 28.6%.
• New listings dropped from 61,980 to 58,280 which is a 5.9% decrease.
• Short sales comprised 11.3% of new listings and 12.1% of sold listings in 2012, down 2.6% and up 1.4% from 2011 respectively as a percentage of the market.
• Bank owned properties comprised 10.3% of new listings and 16.5% of sales in 2012, decreasing slightly from 13.1% and 22.8% respectively in 2011.
Portland metro when comparing percentage share of the market 2011 to 2012:
• Comparing 2011 to 2012, distressed sales as a percentage of closed sales decreased from 33.1% to 28.2%.
• New listings dropped from 33,940 to 32,011 which is a 5.6% decrease.
• Short sales comprised 12.1% of new listings and 12.3% of sold listings in 2012, down 3.2% and up 1.5% from 2011 respectively as a percentage of the market.
• Bank owned properties comprised 10.4% of new listings and 15.9% of sales in 2012, decreasing slightly from 13.4% and 22.3% respectively in 2011.
Clark County when comparing percentage share of the market 2011 to 2012:
• Comparing 2011 to 2012, distressed sales as a percentage of closed sales decreased from 43.2% to 32.2%.
• New listings dropped from 8,643 to 7,280 which is a 15.7% decrease.
• Short sales comprised 19.1% of new listings and 18.5% of sold listings in 2012, down 1.9% and up 2.1% from 2011 respectively as a percentage of the market.
• Bank owned properties comprised 8.8% of new listings and 13.7% of sales in 2012, decreasing from 15.9% and 26.8% respectively in 2011.
Below are links to additional charts for some of our larger areas:
Portland Metro
Clark County, WA
Lane County, OR
Douglas County, OR
Coos County, OR
If you want information on percentages of distressed sales in other areas not represented by our charts, please contact us at communications@rmls.com.