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Orlando Real Estate December 2011
This was definitely a December to remember when it comes to Orlando real estate. The number of homes available for sale continued to decline in the last month of 2011. There are 9,101 homes currently on the market with Orlando Realtors. Of that number 863 or 9.5% are foreclosures, 3,081 or 33.9% are short sales and 5,157 or 56.7% are equity sales. The total number active is down nearly 400 over the last month. Another number that has started to drop is the number of pending sales. While the pending sale index is up nationally, ours I believe has peaked and is settling back down. In our situation the decline in pending sales is not a bad thing, but an indication that short sales appear to be closing. Currently, there are 8,939 homes with contracts pending. Of those, 1,031 or 11.5% are foreclosures, 6,770 or 75.7% are short sales and 1,138 or 12.7% are equity sales. The biggest drop has been in short sales that stood at 7,088 a month ago.
Sales and prices did not disappoint with 2,287 closings posted for December with a median sales price of $115,000. The price remained steady from November, but is 15% higher than ... more

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