Orlando Real Estate

Orlando Real Estate July 2015

August 13th, 2015 2:24 PM by David W. Welch

The trend we have had since spring of 20%+ increases in closed sales year over year with more modest price increases continues. Sales are slightly lower than last month, and inventory is down a bit from last month. There are currently 11,515 properties listed as active by Orlando Realtors. Of the properties listed active, 1,279 or 11.1% are REO, 518 or 4.5% are short sales and 9,718 or 84.4% are equity sales.  About 1/3 of the REO listings are listed as Auction properties which seems to be the latest trends among bank owned sales. 

Pending sales continue with a very slight increase. There are 7,272 properties listed as either pending or active with contract. Of those 1,407 or 19.3% are REO, 1,608 or 22.1% are short sales and 4,257 or 58.5% are equity sales. Short sales are slowly fading into the sunset, but so few actually close each month.

Sales have absolutely been as hot as the weather here in The City Beautiful.. There were 3,697 closed sales in July with a median sales price of $180,500. Of the properties that closed last month, 821 or 22.2% were REO sales with a median sales price of $120,000; 158 or 4.3% were short sales with a median price of $143,250; and 2,178 or 73.5% were equity sales with a median price of $203,208. The 158 closed short sale represented only 9.8% of the pending inventory of short sales. Cash sales remain strong with 1,322 or 35.8% of the sales closing for all cash at a median price of $115,500. The remaining 2,375 or 64.2% of the sales closed with some type of financing with a median price of $207,000. Total sales were up 23.1% compared to a year ago when 3,003 sales closed. Prices climbed 6.2% from $169,900 a year ago.

David Welch Real Estate Optimist, Orlando Real Estate

Posted by David W. Welch on August 13th, 2015 2:24 PM

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