There are 11,656 homes for sale listed by Orlando Realtors® and 7,585 homes listed as contract pending. Of the homes still available for sale, 1,649 are foreclosures and 565 are short sales. Of the homes with contracts pending, 1,705 are foreclosures and 1,332 are short sales.

Too early Orlando real estate sales statistics for May: 2,083 closed sales with a median sales price of $177,000. Sales and prices are still looking fairly strong for the month, but may be taking a breather before the summer selling season.

David Welch Real Estate OptimistOrlando Real Estate

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There are 11,599 homes for sale listed by Orlando Realtors® and 7,450 homes listed as contract pending. Of the homes still available for sale, 1,655 are foreclosures and 581 are short sales. Of the homes with contracts pending, 1,723 are foreclosures and 1,327 are short sales.

Way too early Orlando real estate sales statistics for May: 1,457 closed sales with a median sales price of $177,500. Sales are looking really strong again this month and prices are also doing well. There has been a slight uptick in the inventory by about 125 homes. Pending sales continue to climb, while distressed properties are shrinking.

David Welch Real Estate OptimistOrlando Real Estate

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There are 11,516 homes for sale listed by Orlando Realtors® and 8,061 homes listed as contract pending. Of the homes still available for sale, 1,666 are foreclosures and 568 are short sales. Of the homes with contracts pending, 1,729 are foreclosures and 1,887 are short sales.

Way too early Orlando real estate sales statistics for December: 763 closed sales with a median sales price of $177,500. Sales continue to look strong, and so do prices. Inventory has creeped up just a bit as we are about to enter the summer selling season. Things are already heating up in Orlando real estate.

David Welch Real Estate OptimistOrlando Real Estate

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More of the same last month as compared with March, but that’s not a bad thing. The inventory of home available for sale has been incredibly consistent since January. There are currently 11,470 homes listed as active by Orlando Realtors®. Of the homes currently on the market, 1,641 or 14.3% are REO, 579 or 5.0% are short sales and 9,249 or 80.6% are equity sales. Both the REO and short sales are down slightly while the improving trend of a greater number of traditional, equity sales continues.

Pending sales continue to grow slowly with 7,826 home currently listed as pending or active with contract. Of the homes currently under contract, 1,684 or 21.5% are REO, 1,891 or 24.2% are short sales, and 4,251 or 54.3% are equity sales. Again, REO and short sales are declining while traditional, equity sales are climbing.

Sales also continued to improve over March’s terrific numbers. There were 3,367 sales closed in April with a median price of $173,000. The median price is slightly lower than March’s $175,000, but is nearly 6.5% higher than a year ago. The number of sales is a slight improvement from the prior month, but a huge 24.8% gain from a year ago. Of the home sales that close in April, 892 or 26.5% were REO sales with a median price of $115,125; only 162 or 4.8% were short sales with a median price of $140,000; and 2,313 or 68.7% were equity sales with a median price of $195,000. Short sales continue to be a drag, representing on 8.6% of the pending short sales and still taking on average 275 days to close.

Cash sales are on the decline with 1,374 or 40.8% of sales closing for all cash with a median price of $110,985. There were 1,993  or 59.2% of the sales closing with some form of financing with a median price of $205,000.

David Welch Real Estate OptimistOrlando Real Estate

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There are 11,457 homes for sale listed by Orlando Realtors® and 8,053 homes listed as contract pending. Of the homes still available for sale, 1,610 are foreclosures and 598 are short sales. Of the homes with contracts pending, 1,796 are foreclosures and 1,913 are short sales.

Too early Orlando real estate sales statistics for April: 2,092 closed sales with a median sales price of $174,250. April sales look like they will slightly outpace last year, and prices are likely to be up more than 7%.

David Welch Real Estate OptimistOrlando Real Estate

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Apparently, March was the month to buy a home in Orlando, but I’ll get to that in a minute. Inventory inched down a bit to 11,450 properties listed available by Orlando Realtors®. Of the properties listed active, 1,667 or 14.6% are REO, only 640 or 5.6% are short sales, and 9,143 or 79.9% are equity sales.

Pending sales, including properties listed as pending and active with contract edged up slightly to 7,561. Of the properties with contracts, 1,729 or 22.9% are REO, 1,943 or 25.7% are short sales, and 3,889 or 51.4% are equity sales.

Although the total number of active properties, and the total number of pending sales changed very little last month, the flow of sales was full steam ahead. There were 3,341 closed sales in March with a median sales price of $175,000. Compared to March of last year that is a 37% increase in the number of closed sales and more than a 9% increase in the median price. Of the properties that closed last month 956 or 28.6% are REO sales with a median price of $117,000; 137 or 4.1% are short sales with a median price of $130,000; and 2,248 or 67.3% with a median price of $205,000. The 137 short sales represented only 7.1% of all the pending short sales.

Cash sales remain strong, but are down as a percentage of total sales. There were 1,339 or 40.1% of the total sales that closed for all cash with a median price of $112,500. The remaining 2,002 or 59.9% of the sales closed with a median price of $204,000.

David Welch Real Estate OptimistOrlando Real Estate

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There are 11,419 homes for sale listed by Orlando Realtors® and 7,782 homes listed as contract pending. Of the homes still available for sale, 1,660 are foreclosures and 642 are short sales. Of the homes with contracts pending, 1,797 are foreclosures and 1,966 are short sales.

Early Orlando real estate sales statistics for March: 2,640 closed sales with a median sales price of $175,000. Sales and prices are way up from March 2014. A year ago we had 2,435 closed sales with a median price of  $160,000.  We still have today and tomorrow’s closings, and we already have more than an 8% increase in the number of sales, and more than a 9% increase in the median price.

David Welch Real Estate Optimist, Orlando Real Estate

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There are 11,425 homes for sale listed by Orlando Realtors® and 7,740 homes listed as contract pending. Of the homes still available for sale, 1,687 are foreclosures and 690 are short sales. Of the homes with contracts pending, 1,833 are foreclosures and 1,951 are short sales.

Way too early Orlando real estate sales statistics for March: 1,512 closed sales with a median sales price of $178,000. I am looking for close to 3,000 closings this month at this pace. Nice price increase looks possible too.

David Welch Real Estate OptimistOrlando Real Estate

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Every time I turn around, there is another article or blog about this hack or that hack. I figured why not write about a few real estate market hacks.

If you are planning to sell or buy a home in Orlando there are a few things to consider before you get started. First, how do you find a good agent? There are just over 10,000 Realtors® in our market place. Considering there are only about 30,000 closed sales each year, that means the “average” agent is closing about six transaction sides per year. Each transaction has two sides, buyer and seller, so 30,000 times 2 equals 60,000 transaction sides. If the average agent closes six sales a year, they may not be getting enough market experience to do a great job for you. Hack #1 I suggest asking friends for a referral, or asking your virtual friends on Yelp or other review sites to see who they recommend. Hack #2 There is always Google for a quick search to see if your potential agents show up or not. Hack #3 Speak with at least a couple or three agents to see who you would like to work with during the process.

Now that you have an agent, they should be able to help you with your next steps. Hack #4 Sellers and buyers should ask for a lender recommendation from their agent. I assume if you are selling you will be buying another home, and it is good to get pre-approved before you list. What is the Orlando market like? What about the local market in your neighborhood or the neighborhoods where you are considering? When you read about real estate, often you are getting information about national averages or statewide statistics. Hack #5 If you live in Orlando there are some pretty good statistics published each month by the Realtor® association, and by the Orlando Sentinel, but these numbers are already a month old. Make sure you are considering the very latest information on active, pending and closed sales in your areas. Overall in Orlando, inventory is rising and prices increases have flattened, but your neighborhood may be selling like hotcakes.

You have a contract, now what? Again, a good agent will keep you on schedule as far as loan application, inspections, repairs, title, insurance and closing are concerned. Hack #6 Just to be safe, consider putting all these key dates on a calendar. It is important to stick to the time frames agreed upon in the contract. There are a lot of moving parts though, so consider taking some time off if you can to follow up on items throughout the process. Closing is stressful enough without trying to make it happen during your lunch break.  Hack #7 Consider taking the day off or at least the afternoon. Also, I always try to schedule closings no sooner than 10:00am and no later than 3:00pm. Consider closing in the middle of the week too. Hack #8 Avoid closing first thing Monday morning or at the end of the day on Friday.

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This is one of the most common real estate questions I hear next to “how’s the market” and “is this a good time to buy.” I look at the real estate market much like the stock market from the standpoint that you should not try to “time” the market. Based on that idea, I believe the best time to sell is the time that is best for you. There are more active times of the year such as late spring, and there are slower times of year like late fall. That does not mean that selling your home in November or December is necessarily a bad idea.

I am always measuring and comparing statistics, looking for trends in our local market place. Over the last year, I have been tracking a significant rise in inventory and consequently a slowdown in price appreciation. That does not mean this is a bad time to sell, but you need to be more aware of competing listings and how your home stacks up. In a recent article in the Orlando Sentinel I commented on where I see the Orlando real estate market appreciation for the next 12 months. One agent said she is telling sellers to wait, because prices are still rising. One investor thinks there may be a “dark cloud in the distance.” If now is the best time for you personally, then let’s talk.

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One Response to “Is This a Good Time to Sell?”

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