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May 3rd, 2010 10:04 AM by David W. Welch
The numbers are looking pretty close to my expectations. So far there are 2,275 closed sales recorded with a median sales price of $110,000 again. Of those sales 1,014 were bank owned and 500 were short sales making up around 2/3's of the closed sales. The expriation of the tax credit I believe is responsible for pulling our inventory down a bit to 15,703 active listings. Of the active properties, 1,740 are REO's and 5,628 are short sales. Pendings also dropped a little with a lot of deals closing at the end of the month. There are still 10,960 under contract with 2,103 being foreclosures and a whopping 6,761 short sales. One of those shorts is mine as we continue to wait for the bank to approve the closing statement. They are actually getting more money back than they asked for, and that is confusing them.
I will have more numbers in a few days when all the sales should be recorded. I expect with the end of the month coming on a Friday, we will probably have more straglers than usual.
Baldwin Park is also posting some good numbers with 17 closed sales recorded last month. There are currently 79 active listings with only 3 being bank owned and 20 short sales. Pending sales in Baldwin park stand at 78 with 4 REO, 46 short and 28 "normal" contracts. Of the 17 sales in April 9 properties were distressed and 8 were "normal".
David Welch Real Estate Optimist, Orlando Real Estate