Orlando Real Estate

Orlando Real Estate Sales September Statistics

October 6th, 2009 11:25 AM by David W. Welch

The official numbers won't be out for a few more days, but these should be pretty close. Active listings dropped a little to 16,037 with 8% or 1,279 REO's and 33% 5,306 short sales which is pretty consistent with what we have been experiencing. Pending sales climbed a little more to 8,814 with 19% or 1,688 REO's and 55% or 4,806 short sales. This is a pretty significant increase from the percentages we have been seeing. I don't recall any month since I have been measuring with more than 70% of the pendings being distressed. The MLS has really been cracking down on agents not identifying short sales and the agents that don't pend a short sale when they get a contract. This may actually be a reflection of better reporting. Closed sales for September were a solid 2,165 with a median sales price of $125,000. The press will undoubtedly try to make this the end of the world since prices are a little lower. The truth is median price fluctuates from month to month. I look for consistency, and for the last six months the median has been running between $125,000 and $135,000. Of the closed sales almost half 1,035 were REO's with a median sales price of $79,200, and 427 or 20% were short sales with a median sales price of $127,230. Normal sales made up only 32% of the closed sales, but posted a median sales price of $190,000.

Orlando Real Estate, David Welch Real Estate Optimist
Posted in:General
Posted by David W. Welch on October 6th, 2009 11:25 AM

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