Foreclosure sales rule in YTD Wesley Chapel Single Family Home Sales

An analysis* of the year to date sales of single family Wesley Chapel homes reported sold in our MLS shows that distressed sales (Short Sales/Pre-foreclosures & REO's/Foreclosures) made up the majority of the sales with foreclosures leading the three categories.

Considering the general poorer conditions of distressed sale homes, it was not surprising that they sold at a significantly lower price per square foot, with REO/Foreclosures selling at the lowest $/Sq. Ft.:

19% of the YTD "traditional" single family home sales were reported sold at list price or above; 39% of the REO/Foreclosures and 31% of the Short Sale/Pre-foreclosures sold at list price or above.

The longest time it took from contract to close on homes was with two "Short Sale"/Pre-foreclosure homes.  One went under contract in January, 2010 and closed almost a year later in January of this year, and another went under contract in August of 2009 and closed in February of 2011.

There are plenty of "traditional" single family homes listed for sale in Wesley Chapel  and considering the large volume of  REO/Foreclosures & Short Sales/Pre-Foreclosures, it looks like it will continue to be a buyer's market for some time. 

*Information reported in MLS deemed reliable but not guaranteed.