Orlando Real Estate

Orlando Real Estate June 2016

July 12th, 2016 3:40 PM by David W. Welch

Inventory is up just a tad, but at the current absorption rate, there is just a 2.65 month supply of homes available in Orlando. Currently, there are 9,975 homes of all types listed as active by Orlando Realtors®. Of those, only 464 or 4.7% are REO, 263 or 2.6% are short sales, and 92.7% are traditional equity sales. Pending sales are down a bit at 6,678 with 666 or 10.0% REO properties, 1,037 or 15.5% short sales and 4,975 or 74.5% equity sales being listed as either active with contract or pending.

Close sales for the month are very strong with 3,769 consummated transactions last month with a median price of $205,000. Total sales are up 4.6% from a year ago, and prices are up nearly 13,9%. Of the closed sales in June, only 393 or 10.4% are REO with a median price of $124,500; 117 or 3.1% are short sales with a median price of $160,000; and 3,259 or 86.5% are equity sales with a median price of $215,000. Cash sales have plummeted as prices have risen. Only 1,077 or 28.6% of last months sales closed for all cash with a median sales price of $132,000. The remaining 2,692 or 71.4% closed with some type of financing with a median price of $223,515.

David Welch Real Estate Optimist, Orlando Real Estate

Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on July 12th, 2016 3:40 PM

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