I'm going to give these stats to you a little differently today. Instead of %, we are going to look at units.
There are currently 3,881 homes on the market. Of those, 359 are REO, 768 are Short Sale and 2,754 are Equity. We are seeing that a very large portion of the equity sales are flips or investment properties.
Last week there were 597 total sales. Of those, 72 were REO (seems SO low!), 284 were Short Sale and 241 were Equity. As you can see, Equity and Short Sale are neck and neck for number of units sold but if you look at the availables comparatively, it's pretty safe to say that most of the Equity listings are overpriced.
Last week 410 units closed escrow. Of those 31 (yes, THIRTY-ONE) were REO, 186 were Short Sale and 193 were Equity.
There were 40 Expired listing last week that were NOT a short sale or an REO. So, if you've got skill, you can get the listing priced IN the market and do a deal!