Orlando Real Estate

Orlando Real Estate December 2015

January 19th, 2016 1:33 PM by David W. Welch

I am a bit behind on getting out my last market report for 2015. Now that Christmas, New Years and college football are behind me, not to mention the closing on my own house sale, I have broken down December's activity along with the current inventory and contracts pending. There are 10,323 homes listed as active by Orlando Realtors®. Of those homes listed active, only 945 or 9.2% are REO properties; 436 or 4.2% are short sales; 8,942 or 86.6% are traditional, equity sales. There are 5,610 properties listed as either pending or active with contract. Of these homes with contracts on them, 988 or 17.6% are REO, 1,311 or 23.4% are short sales and 3,311 or 59% are equity sales.

December was another great month for sales in Orlando. There were a total of 3,186 closed sales with a median price of $187,889. That is way better than last December when we saw 3,117 closed sales with a median price of only $163,000. While the number of sales was only up 2%, prices have climbed over 15% from a year ago. Of the closed sales in the last month of 2015, 637 or 20% are REO with a median price of $125,699; only 144 or 4.5% are short sales with a median price of $138,400 and 2,405 or 75.5% are equity sales with a median price of $210,000. The 144 closed short sales accounted for 11% of the pending short sales.

Cash sales remain strong, but continue to slide accounting for 1,201 or 37.7% of sales closing for all cash with a median price of $125,000. Financed sales made up 1,985 or 62.3% of the closed transactions last month with a median price of $218,500.

Orlando Real Estate

Posted by David W. Welch on January 19th, 2016 1:33 PM

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