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May 7th, 2014 1:27 PM by David W. Welch
Inventory and sales are climbing with the summer-like temperatures. There are currently 11,037 homes of all types listed as active with Orlando REALTORS®. Of those active properties, 1,732 or 15.7% are REO, 1,205 or 10.9% are short sales and 8,100 or 73.4% are equity sales. Pending sales are pretty much flat with 8,120 homes listed as either pending or active with contract. Of the properties with contracts, 1,601 or 19.7% are REO, 3,343 or 41.2% are short sales and 3,176 or 39.1% are equity sales.The spring selling season has kicked into gear with 2,905 closed sales posted in April with a median sales price of $157,250. Of the homes that closed last month, 773 or 26.6% were REO properties with a median price of $92,259; 278 or 9.6% were short sales with a median price of $130,000; and 1,854 or 63.8% were traditional equity sales with a median sales price of $189,000. The 278 closed short sales represented only 8.3% or the pending short sale inventory. Cash sales continue to slip with 1,325 making up 45.6% of all sales with a median price of $100,000. Financed sales accounted for 1,580 closings or 54.4% of the total with a median price of $194,000. Based on last month's sales we currently have just under a 3.8 month supply of homes available for sale.Keep up with the latest statistics on my Orlando real estate blog.