Plymouth, MN Foreclosures and Distress Sales - 17% of Inventory November 30, 2008
As we head in to the final month of the year, I thought I would take a look at the distress inventory for Plymouth. It’s currently running at 16.8%. That’s based on 78 distress properties out of a total of 465 for sale. Plymouth has been running about 12-17% for the past few months although the trend is slowly growing in terms of more distress sales.
I have mentioned several times that if you’re buying property today, you should look at the distress inventory first. It appears I’m not the only one who thinks that way given that distress sales represent twice as much in the pendings as they do in the active inventory.
Plymouth Listings for Sale
- Overall market: 465 properties for sale
- Average Days on Market: 171
- Average Asking Price: $383,175
- Lowest Price: $60,000
- Highest Price: $2.95 million
- Average Days on Market: 167
- Average Asking Price: $250,020
- Lowest Price: $60,000
- Highest Price: $700,000
- Distress sales represent 16.8% of overall inventory
Plymouth Listings Pending
- Overall pendings: 47 properties
- Average Days on Market: 158
- Average Asking Price: $315,976
- Average Days on Market: 107
- Average Asking Price: $253,713
- Distress sales represent 31.9% of all pendings
We have seen the competition rising from distress sellers and it appears to only be increasing as we wind up 2008.
For a list of these Plymouth distress sales, please send me an e-mail or go to www.PlymouthDistressHomes.com.
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