Orlando Real Estate Statistics February 2015

Last month's numbers are up and down, but that is not necessarily a bad thing. Inventory is actually down quite a bit from January. There are 11,460 homes listed as active by Orlando Realtors® which is quite a bit less than the more than 12,000 that were available in January. Of the homes listed available, 1,706 or 14.9% are REO, only 747 or 6.5% are short sales and 9,007 or 78.6% are equity sales.

While the active inventory is down, contracts pending are up. There are 7,553 homes listed as pending or active with contract. Of the homes with a contract, 1,856 or 24.6% are REO, 1,936 or 25.6% are short sales and 3,761 or 49.8% are equity sales.

Sales and prices are up from last month and last year with 2,662 closed transactions last month with a median sales price of $159,900. Sales are up more than 28% from last year, and the median price is up over 3% from a year ago. Of the home sales closed last month, 859 or 32.3% are REO sales with a median price of $111,069; 173 or 6.5% are short sales with a median price of $132,000 and 1,630 or 61.2% are equity sales with a median price of $189,000. The closed short sales accounted for only 8.9% of the pending short sales and took on average 317 days to close. Cash sales remain strong with 1,264 or 47.5% of the closed transaction closing for all cash at a median sales price of $105,299. The remaining 1,398 or 52.5% of the sales closed with some type of financing with a median price of $193,000.

David Welch Real Estate Optimist, Orlando Real Estate