Sarasota/Manatee Distressed Property Report May 2011
Distressed Inventory represents the total of short sale and bank-owned listings. As of the end of May 2011, there were only a total of 917 single family home and condominiums that were listed in one of these two distressed categories (29% less than last year). Of this total, 176 were bank owned and 741 were short sales. At this time last year there were a total of 1,294 distressed property listings - 293 bank-owned and 1001 short sales. For the total of single family and condominium inventory, distressed property listings are 19% of total inventory (compared to 22% for the same time last year).
For Manatee County, there were only 713 single family homes and condominiums listed in the distressed categories (41% less than last year). Of these 129 were bank-owned and 584 were short sales. Last year there were a total of 1203 properties listed in the distressed categories. This year distressed inventory is 22% of total inventory compared to 29% at this same time last year.
New distressed property listings in Sarasota County dropped 8% from 4718 during the prior 12 month period to 4339 in the latest 12 month period and dropped 6.5% from 3548 to 3318 in Manatee County.
Still waiting for he next big wave of foreclosures.