Short sales and Foreclosures are all the rage, but are they a major component of the real estate market here in Humboldt County, CA?



Currently in Humboldt County (2/11/10) there are …

• 517 total homes on the market

• 16 active REO (or bank-owned) homes on the market (3.1%)

• 47 active short sale listings on the market (9.1%)



In the past month (1/11/10 – 2/11/10) there have been…

• 54 total homes sold

• 9 REO properties sold (or 16.7%)

• 2 short sale properties sold (3.7%)



So together, short sales and REO’s account for about 12% of the active homes on the market, and about 20% of the sold homes. Other communities in California are reporting 50% of the homes sold as being REO’s, so while it’s certainly a significant part of our market here, it’s not the major component it is in other areas.

Jeff Ragan