Interesting stats for today's real estate market versus last year's real estate market here in Jacksonville, FL. This is a look at short sales sold in Jacksonville vs total sales of all properties in Jacksonville.
On the market right now:
Currently Active Short Sales available for purchase: 1,003
Currently Active NON short sales available for purchase: 3,782
6 month period look back. Duval County only.
May - November 2012: SOLD Short Sales only = 1,055
May - November 2012: TOTAL sales = 4,639
Same months 1 year ago
May - November 2011: SOLD Short Sales only = 827
May - November 2011: TOTAL sales = 4,177
A great point about this data: Foreclosure volume is down, but Short Sale volume is up as you can see in the jump of closed Short Sales from last year to current. This is due to all bank's increased urgency in completing Short Sales as opposed to Foreclosures. Foreclosures are a more expensive process for the banks to complete, they are riskier when re-selling due to all the robo-signing title problems, and the banks net much less in a Foreclosure compared to a short sale.
Thinking of Short Selling your house in Jacksonville Florida? Contact Brad Officer, a Short Sale Specialist in Jacksonville for a free consultation.
Thank you in advance for Sharing!
Give us a call at 904-234-5196 if we can help you buy or sell real estate in Jacksonville, FL.
Leave a Comment
Listing information last updated on August 25th, 2019 at 11:53am EDT.