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Since October 2009
REOs and short-sales will not go away for some time. I will be interesting to follow the statistics. Good job Sam.
Did you include condos in your analysis? I get some 170 condos that are REOs in the same area. So that will add up a little to the total. However, you point remains valid.
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Bank-owned homes on NWMLS increase, still a sliver of the market.
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Sam DeBord, "SeattleHome.com"
Real Estate Agent
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Since February 2009
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The total number of bank-owned homes in Seattle on the MLS is strikingly low. Between Seattle, Bellevue, Kirkland, Redmond, and Shoreline, I'm showing around 280 bank-owned homes for sale on the NWMLS. That being said, the number did take quite a jump since it was around 210 homes a month ago when I last pulled the statistics.
To keep this in perspective, there are probably 10,000 listings for sale in the Greater Seattle metro. These bank-owned homes make up only a tiny sliver of the homes for sale. It's an interesting trend to follow, but not a market-changer at this point.
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