Orlando Real Estate

Orlando Real Estate August 2013

September 5th, 2013 1:30 PM by David W. Welch

Inventory is still on the rise, but sales remained strong in August. There are now 8,088 home listed active by Orlando Realtors. Of the active listings 1,106 or 13.7% are REO, 950 or 11.7% are short sales and 6,032 or 74.6% are equity sales. All three types of properties are continuing to rise with sales prices . The inventory of homes is up compared to July's 7,556 and last August's 7,352 active listings.

Pending sales are declining as we continue to work through the backlog of short sales. There are now 8,390 properties with contracts pending. Of those 1,115 or 13.3% are REO, 4,699 or 56.0% are short sales and 2,576 or 30.7% are equity sales. All three categories of pending properties have declined from the prior month.

Although sales were slightly lower than July's 2,911, they remained very strong. There were 2,856 closed transactions posted in August which is up more than 11% over a year ago. Of those sales, 525 or 18.4% were REO with a median sales price of $90,200, 486 or 17.0% were short sales with a median sales price of $116,500, and 1,845 or 64.6% were equity sales with a median sales price of $180,000. All three categories of sales were down slightly compared with July. Cash sales also continue to be very strong, but have given up the dominant role in our market. There were 1,334 cash sales making up 46.7% of all sales with a median sales price of $100,000. The remaining 1,522 financed sales with a median sales price of $190,000 accounted for the other 53.3% of the closed transactions.

David Welch Real Estate Optimist, Orlando Real Estate

Posted in:General
Posted by David W. Welch on September 5th, 2013 1:30 PM

Archives:

Sites That Link to This Blog:

);

English French German Portuguese Spanish