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Foreclosures and Short Salesin the Twin Cities
October 2009
2345678910ContentsNew ListingsPending SalesClosed SalesMedian Sales PricePercent of Original List Price ReceivedDays on Market Until SaleInventory of Homes for SaleMonths Supply of InventoryExplanation of Methodology
“Lender-Owned”
refers to foreclosure properties in which the financial institution has repossessed the home from the owner due to nonpayment of mortgage obligations.
“Short Sales”
refer to unique arrangements where the financial institution and in-default homeowner work together in an attempt to sell the home before it is foreclosed upon.
“Traditional”
refers to aproperty listed by a typical seller who is not in either of the prior two categories.
The numbers provided in this report are best estimates based upon data from the Regional Multiple Listing Service and may not match other data sources perfectly.See Page 10 for an explanation of methodology.
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org
Foreclosures and Short Sales in the Twin Cities
New Listings
October 2009
TraditionalLender-OwnedShort Sales
6,6218736794,4421,9178434,5551,079840
10-200710-200810-2009
Historical New Listings
02,0004,0006,0008,00010,00012,000
1-20061-20071-20081-2009TraditionalLender-OwnedShort Sales
- 32.9%+ 2.5%+ 119.6%- 43.7%+ 24.2%- 0.4%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org2
Foreclosures and Short Sales in the Twin Cities
Pending Sales
October 2009
TraditionalLender-OwnedShort Sales
2,4744031061,5851,2082172,7141,160537
10-200710-200810-2009
Historical Pending Sales
01,0002,0003,0004,0005,0006,000
1-20061-20071-20081-2009TraditionalLender-OwnedShort Sales
- 35.9%+ 71.2%+ 199.8%- 4.0%+ 104.7%+ 147.5%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org3
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