Antelope Market Update September 2008
The number of foreclosures sold in Antelope this September has almost quadrupled since last September. While only 16 foreclosures sold in the 95843 zip code then, this September saw 63 foreclosures sell. A strong rental market in Antelope is probably responsible for investors jumping in and picking up properties priced extremely well, resulting in the Antelope stampede John spoke about a few months ago.
Apparenty, the stampede isn’t over yet.
Interestingly enough, short sales in Antelope seem to have finally started catching up with the rest of the sales. Consider this fact: While a year ago, houses that sold in Antelope were almost equally divided between distressed sales (foreclosures and short sales) and non-distressed sales (private sellers), today the balance is completely off. Most sales this September were foreclosures (67%) and short sales (19.1%) while private sellers accounted for only 13.8% of the sold units.
As you can probably predict, this imbalance between distressed and non-distressed sales has not helped prices rise or stabilize. The average sales price this September dropped 23.1% over last September’s average to rest at $219,705.
