Orlando Real Estate

Orlando Real Estate March 2013

April 5th, 2013 4:26 PM by David W. Welch

In a nutshell, inventory of active listings is down, while sales and prices are up. There are currently 6,409 properties listed as active which is down slightly from 6,518 a month ago. Of the active listings 748 or 11.7% are REO, 939 or 14.7% are short sales and 4,722 or 73.7% are equity sales. The number of distressed listings are down while traditional equity listings are up from last month. There are 9,731 properties with contracts pending. Of those properties, 1,131 or 11.6% are REO, 6,002 or 61.7% are short sales and 2,598 or 26.7% are equity sales. Total pending sales are up very slightly compared with 9,680 last month.

Sales were smokin' in March. I went out on a limb and predicted better than 2,600 sales for the month and we crushed it. There were a total of 2,704 closed sales posted last month with a median sales price of $139,000. The sales price also eclipsed my prediction of $135,000. The number of sales was up nearly 15% from February's 2,262. All three categories of properties; REO, short sale and equity sale, saw increased sales numbers. Of the closed sales 597 or 22.1% were REO with a median sales price of $82,500. There were 610 or 22.6% of all sales identified as short sales with a median price of $110,375. Equity sales made up 1,497 or 55.3% with a median price of $175,000. Interestingly, REO and short sale prices were down while equity sales prices were up considerably. Cash deals continue to dominate with 1,518 or 56.1% of all sales closing without financing and a median price of $98,000. Financed sales accounted for only 1,186 or 43.9% with a median price of $190,000.

David Welch Real Estate Optimist, Orlando Real EstateSearch for Homes

Posted in:General
Posted by David W. Welch on April 5th, 2013 4:26 PM

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