Orlando Real Estate

Orlando Real Estate March 2016

April 11th, 2016 1:04 PM by David W. Welch

Inventory continues to hover around 10,000 with 10,041 homes of all types listed as active by Orlando Realtors®. Of the homes still available, 567 or 5.6% are REO, 315 or 3.1% are short sales and 9,159 or 91.2% are traditional, equity sales. Pending sales remain strong with 7,195 homes listed as either active with contract or pending. Of the homes with contracts on them, 896 or 12.5% are REO, 1,249 or 17.4% are short sales and 5,050 or 70.2% are equity sales.

Closed transactions for the month picked up from February with 3,276 closed sales with a median sales price of $191,205. That is more than double our low median price from back in 2011 when we bottomed out at $95,000. Based on last month's absorption rate we currently have just over a three month supply of homes available for sale. Of the homes that sold in March 525 or 16.0% were REO with a median price of $127,100; 115 or 3.5% were short sales with a median price of $150,000; and 2,636 or 80.5% were equity sales with a median price of $205,000.

The 115 closed short sales represented on 9.2% of the number of pending short sales, and the average days to close for the closed short sales was 262 days. Cash sales remain strong with 1,127 or 34.4% of the transactions closing for all cash with a median price of $125,000. Financed sales accounted for 2,149 or 65.6% of all the sales with a median price of $216,000. The 3,276 sales is just over 4.5% more than March 2015's 3,132. The median sales price of $191,205 is nearly 8.0% higher than last year's $177,100. Our current active inventory is almost 13% below last year's 11,529.

David Welch Real Estate Optimist, Orlando Real Estate

Posted by David W. Welch on April 11th, 2016 1:04 PM

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