Distressed properties remain a hot topic in commercial real estate and the number of REO sales continues to increase. In fact, REO sales have accounted for nearly 16% of all sales comps recorded by LoopNet in 2011 with Multifamily and Residential land really standing out as the category to watch.
The chart to the right provides a summary of the 2011 REO sales by property type (Jan – Nov 2011).
A few highlights include:
- Multifamily and Land/Agriculture accounted for 85% of the REO sales in the market
- The Duplex/Triplex/Fourplex subcategory accounts for 83% of the Multifamily REO sales
- Residential Land/Agriculture REO sales account for 58% of the Land/Agriculture Sales
- Duplex/Triplex/Fourplex combined with Residential Land/Agriculture accounted for 61% of all the REO sales
What’s your prediction for 2012?