Twin Cities Short Sales, Foreclosures Fall to 7%

The general public may not be aware, but local Realtors certainly are:  the percentage of distressed sales in the Twin Cities is now about 7%.

That’s a far cry from the +50% level breached just four years ago.

Amongst other benign effects on the local housing market:  1) the downward tug on median sales prices is gone; and 2) there are dramatically fewer appraisal issues, caused by “outlier” distressed sales.

P.S.:  the other, catch-all term for distressed sales is “lender-mediated.”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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