Orlando Real Estate

Orlando Real Estate September 2014

October 6th, 2014 1:22 PM by David W. Welch

So inventory is up from August, but the steady climb seems to be taking a breather. Currently, there are 12,551 home listed as active by Orlando Realtors®. Of the homes listed active, 2,253 or 18.0% are REO, 1,058 or 8.4% are short sales and 9,239 or 73.6% are equity sales. Pending sales have been steadily declining as we continue to work through the backlog of short sales. There are 7,113 homes listed in a contract pending status. Of the homes with contracts on them, 1,586 or 22.3% are REO, 2,485 or 34.9% are short sales and 3,041 or 42.8% are equity sales.

Sales continue at summers hot pace with 2,966 closed sales in September with a median sales price holding steady at $165,000. Of the closed sales, 818 or 27.6% were REO with a median price of $101,900; 221 or 7.5% were short sales with a median price of $136,000 and 1,927 or 65.0% were equity sales with a median price of $190,900. Cash sales remain strong with 1,290 or 43.5% all cash sales with a median price of $105,500; 1,676 financed sales or 56.5% had a median sales price of $195,000. Hopefully, inventory will start to recede as new listings slow and sales continue at a strong pace. Prices have been very stable after two years of double digit increases.
Posted in:General
Posted by David W. Welch on October 6th, 2014 1:22 PM

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