Short Sale Statistics Report- 2nd Qtr 2012

Distressed property sales were down overall throughout the Puget Sound area in the second quarter of the year, according to the Washington Property Solutions 2nd Quarter Short Sale Statistics Report. The fall was due to a significant drop in the sale of bank-owned properties. Short sales showed moderate gains.

Short sales in King County increased year over year from 11 percent of all home sales (single family homes and condominiums) in the second quarter of 2011 to 13 percent in the second quarter of 2012. Bank-owned sales fell from 23 percent of all home sales in the second quarter of 2011 to 15 percent of all sales in the second quarter of 2012. 

In Snohomish County, short sales grew from 13 percent of all home sales in the second quarter of 2011 to 16 percent in the second quarter of 2012. Bank-owned sales decreased from 35 percent of all home sales in Snohomish County in the second quarter of 2011 to 23 percent of all sales in the second quarter of 2012. 

Pierce County short sales rose from 14 percent of all home sales in the second quarter of 2011 to 15 percent in the second quarter of 2012. Bank-owned sales fell from 38 percent of all home sales in Pierce County in the second quarter of 2011 to 29 percent of all sales in the second quarter of 2012. 

The full report includes historical statistics for both Short Sale and Bank-Owned properties in King, Snohomish, Pierce and Kitsap counties.