This morning’s quick Auburn Area Mid-Summer Market Snapshot shows that there’s a total of 361 active residential listings, for an average price of just under $300,000, with an average days on market of 139 days.
Perhaps as expected, when comparing homes currently for sale (Active) to those under contract (Pending) to those where the sale actually closed (Sold), those homes pending or sold were considerably lower in price and were on the market for fewer days than those currently Active.
As expected, short sales and bank-owned houses continue to play a dramatic part of house sales in the areas. Year to date, of the 275 sold houses, 45 were short sale transactions. Year to date, approximately 16% of all homes sold in Auburn were short sale properties. …. But WOW, notice that almost 29% of the current Active home listings in Auburn are short sales!
… while 89 additional houses were bank-owned.
So … short sale properties and bank-owned properties make up 38% of the current Auburn market, while almost 49% of all closed sales so far this year were short sale or bank owned!
Every transaction, every house sale is different. Is it a good time to sell your house? Looking at information like this that’s customized specifically for you is one place to start. If you have questions about selling your home, no matter what your motivation, please give me a call or send along an e-mail message. I’m always delighted to be of service to you, your family, friends, and co-workers!