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June 14th, 2010 8:51 AM by David W. Welch
Inventory remains very stable with 16,081 active listings, and distressed properties remain nearly half of all active listings with 2,150 bank owned and 5,588 short sales. That leave 8,342 "normal" listings or 51.9% of the total number. Pendings are also still high with 10,270. Distressed properties make up the bulk of pending sales with 2,056 REO and 6,556 short sales for a total of nearly 84% of all contracts. So far this month there have been 729 closed sales posted with a median sales price of $117,900. REO and short sales made up just over 63% of the closed sales with 294 and 167 respectively. Based on the sales so far, I am estimating we should still see 2,300 to 2,500 closed sales this month. That is a little lower than the last two months, but still very strong. It is probably also an indicator of how much the tax credit influenced sales in the prior two months.
David Welch Real Estate Optimist, Orlando Real Estate