Here’s an interesting chart that shows just Gwinnett County Home Sales for the last 2 years. As you can see, it is divided into (1) Regular Market Sales, (2) Bank/Govt Owned Sales, and (3) the number of foreclosures.
One easy trend to see is that the number of foreclosures was way down for December 2010. We would expect that since most banks put a moratorium on foreclosures during the month of December. It’s interesting to see there were more bank owned sales than regular market sales several months.
I was particularly interested in just last year (2010), so thought I would chart these monthly numbers from the Real Valuator chart into an Excel spreadsheet, so I could do some further evaluation (by the way, these charts are available for most other counties in the Metro Atlanta area. Feel free to send me an email if you would like to see another county).
| 2010 |
Bank/Govt Sales |
Market Sales |
Total Sales |
% of Govt Sales to Total Sales |
# Foreclosures |
| January |
298 |
428 |
726 |
41.05% |
571 |
| February |
351 |
506 |
857 |
40.96% |
390 |
| March |
489 |
590 |
1079 |
45.32% |
603 |
| April |
524 |
745 |
1269 |
41.29% |
943 |
| May |
531 |
825 |
1356 |
39.16% |
605 |
| June |
575 |
913 |
1488 |
38.64% |
639 |
| July |
494 |
657 |
1151 |
42.92% |
709 |
| August |
542 |
649 |
1191 |
45.51% |
617 |
| Sept |
637 |
581 |
1218 |
52.30% |
1002 |
| Oct |
733 |
551 |
1284 |
57.09% |
680 |
| Nov |
626 |
441 |
1067 |
58.67% |
447 |
| Dec |
642 |
569 |
1211 |
53.01% |
329 |
| |
|
|
|
|
|
| Yearly Totals |
6442 |
7455 |
13897 |
46.33% |
7535 |
| |
|
|
|
|
|
| |
46.36% |
|
|
|
54.22% |
I added another column because I wanted to see what percentage (%) of sales was bank/govt owned. This tells us that on average, in 2010, 46.33% of total sales in Gwinnett County were bank/govt owned sales! Wow …. And, to think that this would not include short sales, which is another type of distressed sale. A short sale is when the seller owes more on his home than what it is worth. In this chart, it would show as a normal market sale; however, it’s another type of distressed sale very common today.
What else do these numbers mean? It concerns me that there was a total of 7,535 foreclosures in Gwinnett county in 2010 and 6,442 were sold. Does this mean that our total sales are not keeping up with the number of foreclosures that are coming on the market? I also think that this trend will continue throughout 2011 and beyond, maybe, at least a couple more years.
Thinking of selling and want to know what your home is worth? Go to www.GaHomePrices.com. Happy Friday to Everyone! – Joan Boudreau-Alexander, 770-356-4656 email: joanrealestate1@gmail.com
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