Orlando Real Estate

Active listings continue to slide with only 13,457 currently available for sale. Of those 1,703 or 12.7% are REOs and 5,040 or 37.5% are short sales. Leaving only 6,714 or 49.9% as normal equity sales. While active listings decline, pendings continue to climb with 9,231 properties under contract. Distressed properties make up the lion's share with 2,075 or 22.5% REO and 5,849 or 63.4% short sales. This leaves only 1,307 or 14.2% equity sales under contract.

February posted very strong sales with 2,143 closed transactions with an unchanged median sales price of $95,000. Of those, 1,048 or 48.9% were REO sales with a median price of $70,100. There were 516 or 24.1% closed short sales with a median sales price of $93,250. The 516 sales represents only 8.8% of the total number of short sales currently under contract. A total of 579 or 27.0% equity sales closed in February with a median sales price of $157,500. Cash transactions continue to dominate the market as the smart money purchased 1,299 or 60.6% or the homes last month. The median sales price for cash transactions was a bit higher at $64,000 possibly reflecting the fewer bank owned properties on the market. Financed sales made up 844 or 39.4% of the closed transactions with a median sales price of $150,000.

David Welch Real Estate Optimist, Orlando Real Estate, Any Home-Any Phone

Posted by David W. Welch on March 7th, 2011 9:32 AMPost a Comment (2)
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