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Philly Appraisal Blog

Short Sales in the Philadelphia Region
February 25th, 2010 4:53 PM

 

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.


Posted in:General
Posted by Michael Coyle on February 25th, 2010 4:53 PMPost a Comment

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