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.

Posted by Brad Officer on
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