Orlando Real Estate

Orlando Real Estate October 2015

November 9th, 2015 10:35 AM by David W. Welch

October was a bit down compared to September. First, inventory has continued to decline slightly. There are currently 10,953 properties listed as active by Orlando Realtors®. That is down a little over 200 homes from last month. Of the home listed active 1,211 or 11.1% are REO, 467 or 4.3% are short sales, and 9,275 or 84.7% are equity sales. The number of properties with contracts pending is also down slightly from September. There are currently 6,266 pending properties. Of the properties with contracts 1,085 or 17.3% are REO, 1,485 or 23.7% are short sales, and 3,696 or 59% are equity sales.

Closed sales are also down a bit from last month. There were 2,956 closed transactions in October with a median sales price of $179,000. Of the closes sales 640 or 21.7% were REO with a median price of $113,682; 110 or 3.7% were short sales with a median price of $125,000; and 2,206 or 74.6% were equity sales with a median price of $200,000. The 110 closed short sales represents just 7.4% of the pending short sales. Overall prices were down compared to September, but way up compared to a year ago. Last year we saw 3,242 closed sales with a median price of $155,000. So, sales are down nearly 9%, but prices are up over 15% compared to a year ago. Our cash sales continue to decline too with 1,139 or 38.5% of October's sales closing for all cash with a median price of $121,000. The remaining 1,817 or 61.5% of the sales had a median price of $210,000 and closed with some type of financing.
Posted by David W. Welch on November 9th, 2015 10:35 AM

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