Foreclosures, Bank-Owned Properties Make Up Almost Half of Sales In Loudoun
June 19, 2008 by Danilo Bogdanovic
Filed under Statistics
Buyers and investors in Loudoun County are buying up foreclosure/bank-owned and short-sale properties at a ferocious rate. Almost half (46 percent) of the properties currently under contract in Loudoun County are foreclosure/bank-owned and short-sale properties. In fact, 43 percent of the properties that have settled/closed since January 1st have been foreclosure/bank-owned or short-sale properties.
Here are the "under contract" numbers:
- 1018 - Total number of properties currently under contract in Loudoun County
- 476 - Number of dsitressed properties currently under contract
Here are the "settled"/"closed" numbers:
- 2063 - Total number of properties that have settled/closed in Loudoun County since January 1st
- 892 - Number of distressed properties that have settled/closed in Loudoun since January 1st
As you can see, foreclosure/bank-owned and short-sale properties make up almost half of the properties sold in Loudoun County this year. Buyers and investors in Loudoun County are buying up distressed properties at a very healthy rate. This has has been the case pretty much all year and is one reason why the ratio of distressed properties to total properties for sale in Loudoun County has remained steady all year.
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