Inventory is drying up rapidly in Antelope. Last month we reported inventory at 4.4 and 6.7 months (based on the last 12 months and 6 months of sales, respectively) and this month it has shrunk to 3.9 and 3.4 months respectively.

Which must mean that unit volume is up, right? It is. It is 103% over real estate sales of last November. That constitutes a 200% increase in foreclosure sales, a 300% increase in short sales and a 47% drop in non-distressed sales. 57 foreclosures sold this November in Antelope, along with 8 short sales and 8 non-distressed sales. Almost 90% of all homes sales in Antelope today are distress sales.

Sold price per square foot has fallen again. It is now 20.6% lower that last November, from its high of $157.47 to $125.07. Average sales price is also down 25.2% year over year. It is currently $199,432 from last November’s $266,552. Median sales price is also lower: 25.2% lower in fact. Currently at $205,000 from $266,000 for the same period.

There are currently 64 foreclosures on the market, but they only make up 1 month of inventory, which means about 2 foreclosures sell every day in Antelope. Unfortunately, there are also 196 short sales, which might drag out a real estate recovery in these parts. Short sales currently make up 19.3 and 14.5 months of inventory depending on how you look at them.

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