What becomes of pending sales? [30 days later]

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Expired / Withdrawn 3.9%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.

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About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
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3 Responses to What becomes of pending sales? [30 days later]

  1. Avatar Walter says:

    Nice. Thanks.

  2. Pingback: What becomes of pending sales [60 days later] | RRB Home

  3. Avatar Guy Johnson says:

    You’re welcome, Walter.

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