The number of distressed sales, bank owned and short sales, has dropped in half from 2011. Only 13% of the real estate sales on Seattle's Eastside at the close of 2013 were distressed sales. More and more homeowners are reaping the benefits of the increase in sales prices and are no longer underwater. This is good news for the marketplace and bodes well for 2014.
Prices should continue to increase as long as the general supply is low and the demand is strong. We expect to see even fewer distressed sales this year as the market is heating up with the low inventory.