Because I’m on vacation this week I’m slacking on the blog. I have two interesting charts that reflect a positive trend in foreclosure sales and the results due to those declining numbers of foreclosure sales.
In the first chart you see Foreclosures as a percentage of Total Sales. In the 2nd Qtr. 2010 24.4% of all sales in Metro Atlanta were Foreclosures – the lowest number in the past 18 months.
As a result of fewer Foreclosures being available (or more desirable) to buyers, it has allowed the median sales price for non-foreclosure properties to begin rising – as show in the second chart.
As the number of foreclosure sales (red trend line) increased, the median sales price (gold trend line) of non-foreclosure properties has declined. Consequently, the number of foreclosure sales have been decreasing resulting in an increasing median sales price for non-foreclousre homes. If you have questions about these charts or want to get information on your community, just let us know: info at thenorthgroup.com
What are the figures for the nation?
As of now I’m treating this as good new. I’m going to keep a close eye on the numbers though because we know how quickly the foreclosure numbers change.