Niagara County REO/Foreclosures Market Report – August 2010
There is much interest in purchasing homes that are Bank Owned, are short sales or are foreclosures. Many times consumers think that they get the best deals purchasing homes in this status. There are no guarantees and yes some people get some great deals, while others have many unexpected expenses.
Read Also: WNY Foreclosure Properties List
Often buyers are caught off guard on how difficult it can be to purchase these homes. Often the homes sit vacant for months or years before the bank releases it for sale. And when they do release them for sale they basically make it very difficult to purchase these homes.
Read also: How to Buy a Bank Owned Property — A little humor
Current Market Report
August 17, 2010
- There are 29 active listings with an average list price of $94,994 ranging from $28,900 to $229,900
- There are 13 pending/under contract sales and in the past 30 days there has been
- YTD there has been 28 closed sales with an average closed price of $50,431 spending an average of 87 days on the market
- Highest closed – $255,000 – 569 days on the market
- Lowest closed – $7,000 0 2 days on the market
Selection of REO, Short Sale & Foreclosure Homes – Single Family Homes
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Past Market Reports
June 11, 2010
- There are 30 active listings with an average list price of $92,621 ranging from $15,000 to $274,900
- There are 14 pending/under contract sales and in the past 30 days there has been 3 closed sales with an average closed price of $84,000 spending an average of 279 days on the market
- YTD there has been 19 closed sales with an average closed price of $45,887 spending an average of 94 days on the market
- Highest closed – $120,000 – 569 days on the market
- Lowest closed – $7,500 – 4 days on the market
May 2, 2010
- There are 26 active distressed sales in Niagara County with an average list price of $87,480 ranging from $8,900 to $274,900
- There are 15 pending/under contract sales and no closed sales in the past 30 days
- YTD there has been 14 closed sales with an average closed price of $37,918 spending an average of 51 days on the market
- Highest closed – $89,000 – 148 days on the market
- Lowest closed – $7,500 – 4 days on the market
March 1, 2010
- There are 21 active listings in this category with an average list price of $85,876 ranging from $6,500 to $265,500
- There are 2 pending/under contract sales and in the past 30 days there has been one closed sale for $18,500 spending 64 days on the market
- YTD there has been 6 closed sales with an average closed price of $44,900 spending an average of 53 days on the market
- Highest closed – $89,000 – 126 days on the market
- Lowest closed – $7,500 – 6 days on the market
February 4, 2010
- There are 22 active listings in this category sale on the MLS with an average list price of $72,500 ranging from $6,500 to $263,500
- There are 3 pending/under contract sales and 4 closed sales in the past 30 days with an average $42,380 spending an average of 14 days on the market
- Year to date there has been 5 closed sales with an average closed price $52,380 spending an average 43 days on the market
- Highest closed – $89,000 – 126 days on the market
- Lowest closed – $26,000 – zero days on the market
January 4, 2010
- There are currently 17 active listings of Bank Owned, Foreclosure and Short Sales on the MLS
- There are 2 pending and in the past 30 days there has been two closed sales with an average closed price of $62,583 spending an average of 46 days on the market
- In 2009 there were a total of 55 closed sales in this category of sales in Niagara County with an average sold price of $50,999 spending an average of 54 days on the market
- Highest sold – $175,000 – 167 days on the market
- Lowest sold – $7,000 – 3 days on the market
November 9, 2009
- There are 16 active listings with an average listing price of $70,706 ranging from $16,900 to $263,500
- There are 11 pending/under contract sales and 3 closed in the past 30 days with an average closed price of $33,666 spending an average of 61 days on the market
- YTD there were 48 closed sales with an average closed price $50,850 spending an average of 58 days on the market
- Highest sold – $175,000 – 172 days on the market
- Lowest sold – $7,000 – 3 days on the market
August 2, 2009
- There are currently 12 active single family homes in the REO/Foreclosure with an average list price of $72,016 ranging from $31,900 to $129,900
- There are no pending sales and in the past 30 days there has been 7 closed sales with an average closed price of $47,078 spending an average 46 days on the market
- Year to date there has been 39 closed sales with an average closed price of $52,164 spending 51 days on the market
- Highest sold – $175,000 – 167 days on the market
- Lowest sold – $8,050 – 5 days on the market
Thinking of selling your Niagara county home? Interested in finding out the current market value of your single family home, condo or investment property? Then call Colleen Kulikowski at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home, just fill out the form below. View additional WNY Market Area Statistics here.
All Statistics are gathered from the Buffalo Niagara Association of REALTORS®. Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2010 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.
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I wanted to thank you for this information! You provide great resource for those searching for foreclosure properties!