Philly Appraisal Blog

There’s no way around it as an appraiser…Short Sales are a part of the Philadelphia real estate landscape for the foreseeable future. They influence the values of the homes around them and, in some Philly sub-markets, they dominate the scene.  Short sales have become such a prominent part of the Philadelphia market that the TReND Multi-List Service (MLS) began tracking them in late 2009.

As of February 25, 2010, the TReND MLS is reporting the following data about active residential short sales in the Philadelphia Metro area. The figures presented represent only those listings in the MLS where the listing agent has indicated that it is, indeed, a short sale. These numbers do not take into account short sales taking place outside the MLS.

County	Active Short Sales	Sold Since 01/01/2010	Non-Short Sales Since 01/01/2010
Philadelphia	387	218	4845
Montgomery	189	134	2856
Bucks	186	132	2022
Delaware	163	80	1857
Chester	118	81	1804
Berks	94	54	1399

Appraisers have to be aware of trends developing within the markets they serve. We have to identify these trends and analyze how they have and will effect a given real estate market. As TReND captures more of this data, we continue to track and report on it for you.