Last month I took a snapshot of the pending homes sales so that I could track their progress. Below find the current status of these 1,876 pending sales (from May 1, 2012) broken out by status type today:
| Status | May 1, 2012 | June 1, 2012 |
|---|---|---|
| Active-Pending Call | 4.5% | 1.8% |
| Active-Pending Loan | 13.6% | 5.2% |
| Active-Pending Home Sale | 0.3% | 0.1% |
| Active-Pending Short Sale | 64.3% | 50.1% |
| Pending-No Show | 17.3% | 10.6% |
| Sold | – | 26.8% |
| Active / Back on Market | – | 1.4% |
| Expired / Withdrawn | – | 3.9% |
| Total | 1,876 | 1,876 |
source: NNRMLS – June 2012
As can be seen in the table above, after thirty days:
- nearly 27 percent of the pending sales have sold
- 1.4 percent have re-entered the market
- and 4 percent have expired or been removed from the market
- of the 1,876 pending sales from May 1, 2012, 1,273 ( or 68 percent) remain pending 30 days later
These 1,273 pendings breakdown according to sale type as follows:
| Condition of Sale | May 1, 2012 | June 1, 2012 | % change |
|---|---|---|---|
| None | 326 | 132 | 59.5% |
| Short Sale | 1,345 | 1,060 | 21.2% |
| Bank-owned | 189 | 75 | 60.3% |
| Other (subject to court approval, relocation, other) | 16 | 6 | 62.5% |
| Total | 1,874 | 1,273 | 32.0% |
source: NNRMLS – June 2012
We will revisit this set of pending properties every 30 days to monitor their outcome.
related post: What becomes of pending sales?
Note: The data in the tables above pertains to the cities of Reno, Nevada and Sparks, Nevada [NNRMLS Area #100]. Residential data includes Site/Stick Built properties only. Data excludes Condo/Townhouse, Manufactured/Modular and Shared Ownership properties. Data courtesy of the Northern Nevada Regional MLS – June 2012. This information is deemed reliable, but not guaranteed.
Walter
Nice. Thanks.
What becomes of pending sales [60 days later] | RRB Home
[…] related post: What becomes of pending sales? [30 days later] […]
Guy Johnson
You’re welcome, Walter.