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Orlando Real Estate Statistics March 2016

By
Real Estate Agent with Charles Rutenberg Realty BK645994

Inventory continues to hover around 10,000 with 10,041 homes of all types listed as active by Orlando Realtors®. Of the homes still available, 567 or 5.6% are REO, 315 or 3.1% are short sales and 9,159 or 91.2% are traditional, equity sales. Pending sales remain strong with 7,195 homes listed as either active with contract or pending. Of the homes with contracts on them, 896 or 12.5% are REO, 1,249 or 17.4% are short sales and 5,050 or 70.2% are equity sales.

Closed transactions for the month picked up from February with 3,276 closed sales with a median sales price of $191,205. That is more than double our low median price from back in 2011 when we bottomed out at $95,000. Based on last month's absorption rate we currently have just over a three month supply of homes available for sale. Of the homes that sold in March 525 or 16.0% were REO with a median price of $127,100; 115 or 3.5% were short sales with a median price of $150,000; and 2,636 or 80.5% were equity sales with a median price of $205,000.

The 115 closed short sales represented on 9.2% of the number of pending short sales, and the average days to close for the closed short sales was 262 days. Cash sales remain strong with 1,127 or 34.4% of the transactions closing for all cash with a median price of $125,000. Financed sales accounted for 2,149 or 65.6% of all the sales with a median price of $216,000. The 3,276 sales is just over 4.5% more than March 2015's 3,132. The median sales price of $191,205 is nearly 8.0% higher than last year's $177,100. Our current active inventory is almost 13% below last year's 11,529.

David Welch Real Estate OptimistOrlando Real Estate

Comments (1)

Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Thank you for taking the time to share this.  This is great information for buyers and sellers alike!

Apr 11, 2016 08:03 AM