Orlando Real Estate

So far this month (May 2009) there have been 1,328 closed sales with a median price of $129,950. Of the closed sales, 783 are distressed properties making up 59% of all the closings. That is a little higher than the 57% we have been seeing for several months. Pending sales are crazy with 6,631 under contract right now. That is about a 3.5 month supply of homes under contract. Of those, 4,457 are distressed properties or 67%, which is right in line with what we have been averaging. Active listings have continued to drop, although more slowly in the last week or so. Currently, there are 19,424 active listings with 38% being distressed properties. The 38% is a little lower than the 40% that we have had since last quarter of 2008. That number of active listings will likely fall after the end of the month as listings expire and are withdrawn from the market.

Orlando Real Estate, David Welch Real Estate Optimist, @RealtyOptimist