| Type of Sale |
Sales in past
6 months |
Avg Days
on market |
Avg Square
Footage |
Avg
Sale Price |
Avg % of
Asking Price |
| Resale |
6 |
168 |
3,724 |
1,001,500 |
89.8% |
| Short Sale |
2 |
250 |
7,573 |
2,375,000 |
87.9% |
| Lender Owned |
4 |
65 |
3,578 |
769,350 |
95.5% |
Here is a list of definitions often used to describe Type of Real Estate Sales.
Definitions
 |
Resale |
This is the traditional method, with no third party involvement. The owner sells the property and pays off any debts secured by the property. Relocation, estate sale, and auctions, which made up a small percentage, are also included in this category. |
 |
Short Sale |
The "short" in short sale actually refers to the fact that the payoff amount agreed to in the transaction is "shorter" than the mortgage balance on the property. Simply put, there is more owed on the home than it will sell for. |
 |
Lender Owned |
Lender owned is just what it sounds like. Also called " REO" , which means real estate owned, or bank owned. |
|
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