What percentage of properties in the MLS is in distress?
What percentage of the properties currently on the market are distressed (either short sales or REOs)? As a San Jose Short Sale Agent, I’m always curious about this answer as a barometer of what is happening in Silicon Valley and specifically with distressed properties.
I went to the MLS and pulled all of the active listings on one hand and pulled all of those same properties which were listed as either “short sales” or “REO”s. The data below are for all Single Family and Condo/Townhomes in Santa Clara County that are active as of today, November 11, 2009.
The answer to the question I posed above is 30%. The ratio for distressed properties to all active properties is 838/2780 or 30% by my calculation. It will be interesting to see if this percentage increases or decreases in the coming months.
Distressed Properties
All Properties
