Saturday, September 12, 2009

Residential Home Sales Market Statistics: A Comparison of Normal Sales versus Short Sales and Foreclosures in August 2009

Middle Tennessee Residential Property Foreclosure Activity Report
Residential Real Estate Market Sales Activity - Foreclosures, Pre-foreclosures and Short Sales Compared to Regular Listings
Counties & Cities/Towns Covered:
Rutherford County Tennessee: Murfreesboro TN, Smyrna TN and La Vergne TN (LaVergne TN)
Williamson County Tennessee: Brentwood TN and Franklin TN
Month & Year
August 2009
Start Date
8/1/2009
End Date
8/31/2009
City/Town
Active Listings - Total
Active Listings - % Foreclosures & Short Sales
Pending Sales - % Foreclosures & Short Sales
Months of Residential Inventory Based on Pending Sales Rate
Murfreesboro
1,322
8.25%
13.22%
5.46
Smyrna
389
13.11%
18.33%
6.48
La Vergne
291
20.27%
47.54%
4.77
Brentwood
645
3.41%
5.56%
11.94
Franklin
1,127
2.75%
3.03%
11.38
Totals & Averages
3,774
7.21%
15.12%
7.31
Notes:
As you can see from the chart above the percentage of Pending Sales that are distress sales (Foreclosures and Short Sales) is greater than their representation as a percentage of Active Listings.  This means that these distressed listings are Pending (i.e. selling) at a faster rate then regular listings.