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April 6th, 2015 12:38 PM by David W. Welch
Pending sales, including properties listed as pending and active with contract edged up slightly to 7,561. Of the properties with contracts, 1,729 or 22.9% are REO, 1,943 or 25.7% are short sales, and 3,889 or 51.4% are equity sales.Although the total number of active properties, and the total number of pending sales changed very little last month, the flow of sales was full steam ahead. There were 3,341 closed sales in March with a median sales price of $175,000. Compared to March of last year that is a 37% increase in the number of closed sales and more than a 9% increase in the median price. Of the properties that closed last month 956 or 28.6% are REO sales with a median price of $117,000; 137 or 4.1% are short sales with a median price of $130,000; and 2,248 or 67.3% with a median price of $205,000. The 137 short sales represented only 7.1% of all the pending short sales.Cash sales remain strong, but are down as a percentage of total sales. There were 1,339 or 40.1% of the total sales that closed for all cash with a median price of $112,500. The remaining 2,002 or 59.9% of the sales closed with a median price of $204,000.