Portland Real Estate Market Update: Foreclosures And Short Sales ...

As can be seen from the above infographic, the percentage of distressed sales in Portland?s overall housing market increased for closed sales compared with new listings.

However, the amount of short sales decreased as a percentage of closed sales versus new listings, while the amount of bank owned properties greatly increased.

The quarterly trend shows a decrease of new listings that were distressed, when comparing Quarter 1 with Quarter 2. Distressed sales also decreased as a percentage of closed sales in a comparison of Quarter 1 and Quarter 2. This trend remains consistent with the data from Quarters 1 and 2 from 2010.

Additional Stats About Portland Real Estate Distressed Sales 2011

Here are some additional facts about distressed properties in the first half of 2011:

• In a comparison of the first half of 2010 with the same period in 2011, distressed sales as a percentage of new listings increased by 4.5% (20.9% v. 25.4%).
• In a comparison of the first half of 2010 with the same period in 2011, distressed sales as a percentage of closed sales increased by 9.9% (28.1% v. 38%).
• Short Sales comprised 13.4% of new listings and 10.1% of sales in 2011, up 2.1% and 1.1% from 2010, respectively.
• Bank Owned properties comprised 12.1% of new listings and 27.9% of sales in 2011, up 2.4% and 8.8% from 2010, respectively,

On the national front,? foreclosures made up roughly one-third of all home sales this spring.

Oregon Foreclosure Stats

According to a recent article from RealtyTrac, they report that distressed inventory has decreased 33% from August 2010 to August 2011. The report shows foreclosure filings ?? default notices, scheduled auctions and bank repossessions ? were reported on 228,098? U.S. properties in August, a 7 percent increase from the previous month, but still down nearly 33 percent from August 2010.

The report shows one in every 570 U.S. housing units had a foreclosure filing during the month, whereas in Oregon shows one in every 621 households had a foreclosure notice.? There are, according to RealtyTrac 2,638 foreclosures in the state of Oregon.

INTERESTED IN BUYING A SHORT SALE OR FORECLOSURE?

There are currently over 820 Portland homes for sale that are either short sales or in foreclosure in the Portland? metro area.? Here?s a link to that list of Portland real estate for sale.

Want additional information?

Looking for a short sale or foreclosure in another area?? Give me a call at 503-804-9685 and I can help.

ALL ABOUT?..Portland.Oregon.Real Estate. ? Copyright 2008-2011. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

Source: http://allaboutportlandoregonrealestate.com/foreclosure-short-sales-loan-mods/portland-real-estate-market-update-foreclosures-and-short-sales-stats-q1-and-q2-2011/2011/

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