I’ve added a metric to my weekly peak at the foreclosure listings: The percentage or overall listings are foreclosures.
For all the months and months I’ve been tracking weekly forclosure listings in the nine residential Greensboro zip codes, I’ve never looked this number.
Well, bad on me because that number may be as telling as any other about the state of the market here in town.
For the week ending June 20, 2010, there were 14 new foreclosure listings. There were 142 listings overall, meaning 9.9% are foreclosures. This got me to wondering about the historical trend for this measure in Greensboro.
As well as I can figure, pulling data from the MLS (from whence all my listing information has always come), 9.9% is fairly middling. Actually below the 12 week average of 11.8% of weekly listings. In those 12 weeks, the highest percentage was *gag* 17% and the lowest was 6.7%.
Looking back to the same 12 weeks last year and the streams begin to cross:
You can see that there were weeks last year when the percentage of foreclosures was quite a bit lower than now. But there was a moratorium on foreclosures for a spell back then. I was surprised to see, though, that the percentage of foreclosures on a weekly basis, other than the moratorium time, hasn’t changed appreciably since I started tracking way back in early September 2008.
That was the month things started feeling pretty weird, real estate-wise around here.
I would have thought that we would have seen a steady increase over all this time. Not so. Over these nearly two years of data, the average percentage of foreclosures listed has been 11.6%. Again, these are properties listed in the Triad Multiple Listing Service (MLS). It doesn’t include properties sold on the courthouse steps or otherwise outside the MLS.
Still. It surprised me.
Oh well. Here are the rest of the numbers:
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If you have questions, comments or a good joke to share shoot me an email. I’m a full time Realtor®, I love what I do and would be thrilled to hear from you.
* All data from Triad Multiple Listing Service (MLS) and is only as good as the information entered, which is done by humans, who make errors. The information is only for those residential zip codes for Greensboro and does not include the surrounding communities.
