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Orlando Real Estate Statistics July 2015

By
Real Estate Agent with Charles Rutenberg Realty BK645994

The trend we have had since spring of 20%+ increases in closed sales year over year with more modest price increases continues. Sales are slightly lower than last month, and inventory is down a bit from last month. There are currently 11,515 properties listed as active by Orlando Realtors. Of the properties listed active, 1,279 or 11.1% are REO, 518 or 4.5% are short sales and 9,718 or 84.4% are equity sales.  About 1/3 of the REO listings are listed as Auction properties which seems to be the latest trends among bank owned sales. 

Pending sales continue with a very slight increase. There are 7,272 properties listed as either pending or active with contract. Of those 1,407 or 19.3% are REO, 1,608 or 22.1% are short sales and 4,257 or 58.5% are equity sales. Short sales are slowly fading into the sunset, but so few actually close each month.

Sales have absolutely been as hot as the weather here in The City Beautiful.. There were 3,697 closed sales in July with a median sales price of $180,500. Of the properties that closed last month, 821 or 22.2% were REO sales with a median sales price of $120,000; 158 or 4.3% were short sales with a median price of $143,250; and 2,178 or 73.5% were equity sales with a median price of $203,208. The 158 closed short sale represented only 9.8% of the pending inventory of short sales. Cash sales remain strong with 1,322 or 35.8% of the sales closing for all cash at a median price of $115,500. The remaining 2,375 or 64.2% of the sales closed with some type of financing with a median price of $207,000. Total sales were up 23.1% compared to a year ago when 3,003 sales closed. Prices climbed 6.2% from $169,900 a year ago.

David Welch Real Estate OptimistOrlando Real Estate

Comments (4)

John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate

Looks like buyers are favoring distressed homes, but as that inventory declines that should set up equity sellers really well for the fall. Nice to see year-over-year prices up by a sustainable margin.

Aug 17, 2015 03:40 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I love the condos and I really like the area as well. I'm going to follow you and see what you have in store!

Aug 17, 2015 04:36 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Sometimes you can make a coal into diamonds and I think this is one of those cases to me

Aug 17, 2015 04:37 PM