Orlando Real Estate

Orlando Real Estate August 2015

September 21st, 2015 4:18 PM by David W. Welch

I apologize for being so far behind this month, but I have been covering for another agent who has been out the last two weeks. Now, on to my market breakdown for August 2015.
Inventory is still holding fairly steady, but lower than earlier in the summer. There are 11,336 properties listed active by Orlando Realtors®. Of those 1,247 or 11.0% are REO, 520 or 4.6% are short sales and 9,568 or 84.4% are traditional, equity sales. 

Pending sales are a bit lower with 6,575 properties listed as either pending or active with contract. Of those 1,187 or 18.1% are REO, 1,487 or 22.6% are short sales and 3,901 or 59.3% are equity sales. The slow backlog in short sales just does not seem to go away.

Closed sales, and prices were up from a year ago. There are 3,462 closed transactions for August with a median sales price of $180,000. Of those 795 or 23.0% are REO with a median price of $118,384; only 137 or 4.0% are short sales with a median price of $134,500; and 2,530 or 73.1% are equity sales with a median price of $204,000. Cash transactions remain strong with 1,315 or 38% of the sales closing for all cash with a median sales price of 117,500. The remaining 2,147 or 62.0% closed with some type of financing with a median price of $210,000. The total number of sales was up 16.4% from 2,974, and prices were up nearly 9.1% from $165,000 from a year ago.

Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on September 21st, 2015 4:18 PM

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