Massachusetts Short Sale Statistics for Suffolk County January 2015
We are trying to track short sale trends in Massachusetts per county. Feel free to visit our Essex County Statistic and Middlesex County statistics for January for an overview of numbers. So far the numbers in January are not surprising. As I have stated before January is one of the slowest months of the year for negative equity properties to sell in Massachusetts. Massachusetts short sales however are still strong in numbers overall. In 2014 we had one of our highest year for short sale negotiations in Massachusetts. Much of this is due in part to lenders working through the Massachusetts red tape and finally being able to foreclose on properties that were protected under Massachusetts law. Massachusetts does an EXCELLENT job of protecting defaulting homeowners, and does make every attempt to make sure that a homeowner has the option of a workout before foreclosure.
The Suffolk County short sale SOLD numbers for Massachusetts in January are unremarkable. There was not one single family property that sold short in Suffolk county in January 2015, however there were 3 multi families and one condo that made up the Suffolk sold market. The graph below represents those numbers. The DTO on the condo was zero, so it was likely a pre arranged buyer where the DOM for the condo was 73. The DTO was 3.67 for the multi family listings – and DOM was 135 – Muti Family listings don’t last long in Massachusetts. The market is strong for sellers of Multi families.
Moving on to active Massachusetts short sale listings, there is a TON of activity, and most properties are either UAG, or CTG. Boston, leads with 19 Single Family Massachusetts Short Sale Listings, 18 Condo Massachusetts short sale listings and then 13 Massachusetts multi family short sale listings. This is followed by revere that has much smaller numbers. The DOM for Suffolk County Massachusetts active single family short sale listings is 174, where DTO is 78. The DOM for Active Suffolk County Short Sale Condo Listings is 252, and DTO 94, where the DOM for Active Massachusetts Suffolk County Short Sale condo listings is 170 and the DTO is 47. Again, Massachusetts short sale Multi families don’t last long.
I pulled the numbers of CTG/UAG and Actives for Active Condo listings and very few short sales do not go under contract. Out of the active short sale condo listings in January for Suffolk County Massachusetts only 6 were active out of 25. The rest were CTG or UAG.
Our firm works with underwater homeowners throughout the state. Feel free to visit our website at http://shortsalemitigation.net for more information or poke around on our blog site here to learn the MOST about short sales. Our firm has the most up to date current information on short sale guidelines and what you need to do to get your home SOLD if you are underwater. Please don’t forget you do need some sort of hardship or inability to pay.
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