Friday, February 14, 2014

Distressed properties still a large presence in the market

30% of residential properties sold in 2013 in the neighborhood of Thornwood were considered a "Distressed Sale." However, 42.5% of the market in Kane County is made up of distressed properties.
So Thornwood has fewer distressed properties than Kane County overall.

These numbers indicate an improving real estate market when compared to 2012 when 49.1% of the sales in Kane County were distressed and  only 35.8% of the market in Thornwood were distressed.

*A distressed sale is a short sale, foreclosure or court ordered sale.
** Source is MRED Multiple Listing Service and information is deemed reliable but not guaranteed. Cross Properties data was used for all stats noted here. Cross properties is both detached single family and attached town homes.