49 homes sold in Rosemont this month with distress sales still leading the way. 34 of the homes were foreclosure sales, 2 were short sales and 13 were non-distressed. This means that almost 3 out of 4 homes sold in Rosemont were distress sales. While foreclosures are being picked up by home buyers, short sales have a long way to go. there are currently 109 short sales on the market in the area and the average 7 make for more than a year’s inventory of short sales!

But back to the unit volume – it’s up by 36% year over year. And – interestingly enough – this includes the individual groups of foreclosures (up 42% year over year) short sales (up 100% but that’s 2 short sales as compared with 1 so that isn’t saying anything) AND non-distressed sales (up 18.2% for the same period).

Sold price per square foot has stabilized somewhat at $118.70 – almost the same as last month, but 20.3% lower year over year from a high of $149.01. The average sales price is also 24% lower year over year falling from $215,128 to $163,306. The median sales price is at $161,300 down 23% from $209,900.

Inventory in the Rosemont area is at 2.7 months based on the last year of sales and 3 months based on the last six months of sales. Foreclosure inventory is at 0.4 months no matter how you look at it.

Comments are closed.