I was doing a little research today on the real estate market here in the Greeley and Evans area.  I'm going to throw quite a few numbers out here so if you aren't a numbers person this might be kind of confusing.  But if you like statistics and can follow along you might find this interesting.

I gathered my information from the Northen Colorado Multiple Listing provider Information Real Estate Services.  For the sold data I only went back to January 1, 2010.  So the numbers are only about 4 and a half months old for the sold information. 

First I will talk about Short Sales.  You might have read or heard of this in the news and the Media.  President Obama even jumped into this issue by passing some regulations to the banks and lenders to help speed this process along.  What is a short sale?  It's selling a home for less then what is owed.  The key to this is getting the mortgage company to agree.  This is a long and sometimes painful process and in the end it might not work out. 

Currently on the market in the Greeley/Evans area are 194 short sale homes. Of all these homes they have been on the market an average of 137 days.    Since January 1 only 31 of them have been sold.   And of these 31 homes old it has taken on average 170 days for them to sell.  That is quite a while and not many of them actually sold.  By the way of those 31 homes sold they sold at 98% of listing price.  Another interesting statistic is that 82 short sale listings have expired or withdrawn from the market since Jan 1.   That's quite a few.    This is most likely due to that these short sales are now headed to foreclosure or the owners have worked things out and decided not to sell. 

Next up is the foreclosure market.  This includes HUD homes as well as any other bank owned properties. 

Since January 1 160 bank owned homes have sold in the Greeley/Evans area.  On average they were only on the market 47 days and sold at 99% of the listing price.  Currently there are only 49 bank owned homes for sale.  These have only been on the market on average of 32 days.  There currently are about 105 bank owned properties with pending contracts on them.  What does this tell us about the foreclosure market?  Well that there aren't many on the market, but when they do they don't last long and they sell for just about the list price on everyone of them.  So the messages you get from the media and through some advertising that you can buy a foreclosure for way lower then the bank is asking for it isn't quite true in the Greeley Evans area. 

Now some statistics for those homes that are on the market that are not short sales or bank owned properties.  These are the ones being sold by their owners.  We'll call them fair market listings

196 fair market homes have sold since January 1.  It's taken on average 118 days on the market for these sold homes.  The average sold price is $165,939.   What's interesting also is that these sold homes are selling at 97% of the list price.  However on many of these sales the sellers contributed 1-3% of the sales price to the buyers loan closing costs.  So the net percentage on the sales price compared to the list price is probably a bit lower. 

Currently there are 534 fair market homes on the market and these have been on the market about 130.5 days on the market.  

Since January 1 about 163 fair market homes have gone off the market either because their listings have expired or have been withdrawn.  This happened after about 169 days on the market and the average price of these listings was $241,972.  So you can see that many of these homes were possibly listed to high for the market and couldn't sell.

Currently there are 160 homes pending sale of all types of listings, fair market, bankowned, and short sales.  Most of these pending sales went under contract after about 79 days. 

These are the basic statistics for all size, styles, prices of homes in the Greeley/Evans area.  Things radically change in regard to time on the market and average sales price depending on the type of home and location.  For example it typically takes homes price around $300,000 longer to sell then homes priced at about $150,000. 

If you are wondering what your property could sell for and how long it might take give me a call at 970-302-1233 or e-mail me using the form below.  

For more Greeley and Evans Colorado real estate information and an MLS search visit www.greeley-weldcountyhomesforsale.com.

Also check out my Greeley and Weld County RE/MAX webpage at www.weldcountyproperty.com.

Thanks for reading and have a great day!

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