This chart shows the number of bank owned/REO properties and short sales in all areas of the RMLS™ system during the third quarter of 2016.
Below are links to additional charts for some of our larger areas.
• Portland Metro Area Distressed Properties (3rd Quarter 2016)
• Clark County, WA Distressed Properties (3rd Quarter 2016)
• Lane County, OR Distressed Properties (3rd Quarter 2016)
• Douglas County, OR Distressed Properties (3rd Quarter 2016)
• Coos County, OR Distressed Properties (3rd Quarter 2016)
Here are some additional facts about distressed residential properties in the third quarter of 2016:
All areas when comparing percentage share of the market, third quarter to second quarter 2016:
• When comparing third quarter to second quarter 2016, distressed sales as a percentage of new listings decreased by 0.2% (3.9 v. 4.1%).
• In a comparison of third quarter to second quarter 2016, distressed sales as a percentage of closed sales decreased by 1.7% (5.1 v. 6.8%).
• Short sales comprised 0.7% of new listings and 1.0% of sales in the third quarter, down 0.1% and 0.3% from the second quarter of 2016, respectively.
• Bank owned/REO properties comprised 3.2% of new listings and 4.1% of sales in the third quarter, down 0.1% and 1.4% from the second quarter of 2016, respectively.
Portland metro when comparing percentage share of the market, third quarter to second quarter 2016:
• When comparing third quarter to second quarter 2016, distressed sales as a percentage of new listings decreased by 0.4% (2.9 v. 3.3%).
• In a comparison of third quarter to second quarter 2016, distressed sales as a percentage of closed sales increased by 0.9% (6.4 v. 5.5%).
• Short sales comprised 0.6% of new listings and 1.7% of sales in the third quarter, down 0.1% and up 0.5% from the second quarter of 2016, respectively.
• Bank owned/REO properties comprised 2.3% of new listings and 4.7% of sales in the third quarter, down 0.3% and up 0.4% from the second quarter of 2016, respectively.
Clark County when comparing percentage share of the market, third quarter to second quarter 2016:
• When comparing third quarter to second quarter 2016, distressed sales as a percentage of new listings decreased by 0.4% (2.8 v. 3.2%).
• In a comparison of third quarter to second quarter 2016, distressed sales as a percentage of closed sales decreased by 1.7% (3.5 v. 5.2%).
• Short sales comprised 1.3% of new listings and 1.0% of sales in the third quarter, unchanged for new listings and down 1.5% when compared to the second quarter of 2016, respectively.
• Bank owned/REO properties comprised 1.5% of new listings and 2.5% of sales in the third quarter, down 0.4% and 0.2% from the second quarter of 2016, respectively.
If you’d like more information or percentages of distressed residential sales in other areas not represented by our charts, please contact us at communications@rmls.com.
Why do we need this? This was good info to have a few years ago. Could we have something relevant?
Indeed, the market has improved since we started publishing these quarterly infographics. We’ll probably be discontinuing the series at the close of the year.
Any thoughts about what you are replacing it with?
There will always be distressed properties. Just as there are always sales at 100% of asking (or over). The question then becomes; at what % of the market are they? We are being given valuable information for standard metrics of the market. Thank you RMLS.
With an ever Changing Market it is good to know where we are at with Short Sales and REO properties. WE won’t always be in a hot and hopping Market. History has told us that repeatedly.
Thank you Heather.