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May 5th, 2015 2:06 PM by David W. Welch
Pending sales continue to grow slowly with 7,826 home currently listed as pending or active with contract. Of the homes currently under contract, 1,684 or 21.5% are REO, 1,891 or 24.2% are short sales, and 4,251 or 54.3% are equity sales. Again, REO and short sales are declining while traditional, equity sales are climbing.Sales also continued to improve over March's terrific numbers. There were 3,367 sales closed in April with a median price of $173,000. The median price is slightly lower than March's $175,000, but is nearly 6.5% higher than a year ago. The number of sales is a slight improvement from the prior month, but a huge 24.8% gain from a year ago. Of the home sales that close in April, 892 or 26.5% were REO sales with a median price of $115,125; only 162 or 4.8% were short sales with a median price of $140,000; and 2,313 or 68.7% were equity sales with a median price of $195,000. Short sales continue to be a drag, representing on 8.6% of the pending short sales and still taking on average 275 days to close.Cash sales are on the decline with 1,374 or 40.8% of sales closing for all cash with a median price of $110,985. There were 1,993 or 59.2% of the sales closing with some form of financing with a median price of $205,000.
David Welch Real Estate Optimist, Orlando Real Estate