There are 77 homes that are pending sales and of those 40 are short sales and 1 is a bank owned property. For the past 6 months banks have been focusing on cooperating with short sales over the foreclosure. I believe the trend will continue with the banks preferring the short sale over a foreclosure and if the market continues to improve you will see less and less distressed sales.
The average marketing time of homes today is less than 30 days and inventory as a whole remains very low which will continue to put upward pressure on homes that come to market.
I hope this answered your question. Have a great day.
Inventory is in short supply. Multiple offers are the order of the day. Prices are moving up.