Orlando Real Estate

Orlando Real Estate September 2015

October 6th, 2015 9:59 AM by David W. Welch

Inventory has continued to decline ever so slightly. There are currently 11,176 home listed as active by Orlando Realtors®. That is down from 11,336 last month. Of the properties still available for sale, 1,271 or 11.4% are REO, 518 or 4.6% are short sales and 9,390 or 84.0% are equity sales.

The number of homes under contract has also dropped slightly. There are 6,376 properties listed as either pending or active with contract. Of those properties with contracts, 1,087 or 17.0% are REO, 1,513 or 23.7% are short sales and 3,777 or 59.2% are equity sales.

Closed sales remain strong, breaking the 3,000 mark again in September. There were 3,104 closed transactions with a median sales price of $183,000. Of the closed sales, 654 or 21.1% are REO with a median sales price of $109,000; 118 or 3.8% are short sales with a median sales price of $133,500; and 2,332 or 75.1% are equity sales with a median sales price of $207,541. The 118 closed short sales represented only 7.8% of the pending short sale inventory.

Cash sales remain very strong, but are showing continued decline with 1,142 or 36.8% of the sales closing for all cash with a median price of $121,150. The remaining 1,962 or 63.2% of the sales closed with some type of financing with a median price of $212,000.

Both the number of sales and the median sales price are up from a year ago. Sales were up just over 4.5% compared to last year's 2,966 closings. The median sales price was up 10.9% over last year's $165,000.

David Welch Real Estate Optimist, Orlando Real Estate

Posted by David W. Welch on October 6th, 2015 9:59 AM

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