Orlando Real Estate

Orlando Real Estate October 2013

November 5th, 2013 3:22 PM by David W. Welch

It is that time again, when we take a look back at the prior month to see how the Orlando real estate market is doing. Inventory continues to rise with 9,178 homes listed as active by Orlando Realtors®. Of the active listings 1,345 or 14.7% are REO, 1,117 or 12.2% are short sales and 6,716 or 73.2% are equity sales. A month ago there were 8,697 active listing. At the current sales pace we have just under a 3.5 month supply of inventory.

Pending sales continue to decline, primarily due to the shrinking number of short sales. We have been slowly working through the back log, and currently there are 7,718 contract pending. Of the homes with contracts on them, 1,082 or 14.0% are REO, 4,235 or 54.9% are short sales and 2,401 or 31.1% are equity sales.

Closed sales remain strong with 2,520 completed transaction last month posting a stable median sales price of $150,000. Of the closed transactions, 582 or 23.1% are REO with a median price of $88,000, 381 or 15.1% are short sales with a median price of $120,750, and 1,557 or 61.8% are equity sales with a median price of $180,000. There were 1,240 or 49.2% cash sales and 1,280 or 50.8% sales with some type of financing.
Posted in:General
Posted by David W. Welch on November 5th, 2013 3:22 PM

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