Orlando Real Estate

Short Sale Log Jam

June 24th, 2009 8:25 AM by David W. Welch

Currently in Orlando real estate there are 18,287 active listings, and we could drop just below 18,000 by the end of the month if the trend continues. Over 1,300 sales have closed so far this month with a median sales price of $130,000 which is the same as April and May. Can you say, prices have bottomed out? The big mystery is the pending sales in Orlando with 7,172 contracts pending right now. It really is not that big of a mystery though, because short sales are creating a huge log jam. 49.8% of those contracts involve a short sale property. That accounts fo 3,573 pending sales, but only a couple of hundred short sales get closed each month.

Orlando Real Estate, David Welch Orlando Real Estate Optimist, @RealtyOptimist
Posted in:General
Posted by David W. Welch on June 24th, 2009 8:25 AM


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