I heard short sales make up 75% of the market. Is that TRUE?

MIAMI - DECEMBER 22:  Real estate agents Izzy ...

That depends. If you read my last blog you will see it is correct in the single family homes under $300K for Santa Clara County.  However, the percentage changes dramatically as the price of the home increases.

Type of Sale under 300K 300k-500K   500-750K  
Regular Sale 10% 189 34% 411 70%
REO 15% 81 15% 48 8%
Short Sale 75% 279 50% 115 20%
Misc       11 2%
total   549   585  

 

So if you are a buyer not wanting to hassle the long wait for the short sale process you will probably need to get in the $500K+ range.

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