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October 13th, 2009 9:51 AM by David W. Welch
Active listings in Orlando remain basically unchanged with 16,045 homes on the market. There are 1,292 REO's or about 8% of the total active listings, and 5,385 short sales or about 34%. Pending sales continue to climb with 8,968 properties under contract. Over half are short sales with 4,972 or 55% being identified as being in a short sale situation and another 19% or 1,723 are bank owned. Closed sales so far indicate another good month with 490 closed with a median sales price of $131,500. Exactly 40% or 196 of these sales were bank owned with another 22% or 109 being short sales. The 109 closed short sales only accounts for about 2% of all the pending short sale contracts.
Orlando Real Estate, David Welch Real Estate Optimist