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July Market Update

July sales numbers are up in all areas. There were a total of 2,575 sales of single family houses. As has been the case lately, most of these were REO (bank owned) properties – 1,757. There were 228 houses sold as short sales. The condominium and townhouse market remains slow with 356 sales in July – 204 REO and 17 short sales.

There are 6,233 single family listings with accepted offers, of which 3,269 are bank owned and 1,998 are offered as short sales. There are 815 offers on listed condos and townhouses, primarily in the distressed market – 425 REO and 220 short sale.

Current listing inventory appears to have stabilized with 16,919 MLS listings for single family houses, the majority of which are distressed with 4,065 REO and 5,241 short sales. Condominium and townhouse numbers are at 4,648 total listings – 1,074 REO and 975 short sales.

Check out previous updates if you would like to see the trending up we’ve been experiencing since the beginning of the year.

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