May

11

Inventory is down, pending sales are up, prices and sales are still going strong as the spring buying season is in full swing here in Orlando. There are currently 9,768 homes of all types listed as active by Orlando Realtors®. That is down over 16.6% from last year’s 11,725. Of the homes listed as active only 480 or 4.9% are REO, 275 or 2.8% are short sales and 9,013 or 92.3% are traditional, equity sales.

There are 7,515 homes listed as either pending or active with contract. The number of pending sales has been steadily climbing, and is up from last month’s 7,195. Of the homes with contracts on them, 793 or 10.6% are REO, 1,181 or 15.7% are short sales and 5,541 or 73.7% are equity sales. Climbing pending sales is a strong indicator of climbing sales numbers in the coming months.

Sales were very strong in April with 3,374 closed transactions with a median price of $191,000. That is down slightly from March’s $191,205, but represents better than a 9.1% increase over last April’s $175,000. The number of sales is up more than 11.3% compared to last April’s 3,031. At the April absorption rate our current inventory represents only a 2.9 month supply of inventory. That is down nearly an entire month from a year ago. Of the homes that sold last month, 488 or 14.5% are REO with a median price of $120,997; 123 or 3.6% are short sales with a median price of $158,000; and 2,763 or 81.9% are equity sales with a median price of $220,000. The 123 closed short sales represents only 10.4% of the pending short sales, and they took 282 days to close on average.

While cash is always king, the king is not as strong as he used to be. Last month 1,145 or 33.9% of the sales closed for all cash with a median price of $119,900. The remaining 2,229 or 66.1% of closed sales had some type of financing and a median price of $220,000.

David Welch Real Estate Optimist, Orlando Real Estate

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Apr

25

There are 9,912 homes for sale listed by Orlando Realtors® and 7,506 homes listed as contract pending. Of the homes still available for sale, 509 are foreclosures and 278 are short sales. Of the homes with contracts pending, 848 are foreclosures and 1,223 are short sales.

Too early Orlando real estate sales statistics for April: 2,208 closed sales with a median sales price of $189,450. We are definitely on track for another 3,000+ sales this month. Inventory continues to decline, and pending sales are climbing. The sales price to list price ratio is up to 98%. Don’t try any low ball offers.

1132 Hardy Ave for Sale

New townhouse in #Colonialtown #Mills50 area.

David Welch Real Estate Optimist, Orlando Real Estate

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Apr

11

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 Optimist, Orlando Real Estate

151 E Washington St Unit 621

The view of Downtown Orlando’s Lake Eola from The Metropolitan at Lake Eola

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Inventory continues a slow slide with only 10,104 homes of all types listed as Active by Orlando REALTORS®. Of the homes available on the market, 651 or 6.4% are REO, 333 or 3.3% are short sales and 9,120 or 90.3% are traditional, equity sales. Based on our most recent absorption rate, there is less than a 3.9 month supply of inventory. Check out my breakdown to see just how low the Orlando real estate inventory is by price range.

Pending sales are actually up quite a bit from January. There are currently 6,981 homes listed as Pending or Active With Contract. Of the homes with contracts pending, 968 or 13.9% are REO, 1,291 or 18.5% are short sales and 4,722 or 67.6% are equity sales.

Closed sales are way up over January’s 2,277, but down slightly from February of last year. There are 2,600 closed sales in February with a median price of $179,900. Sales are down almost 2.5% from a year ago, but prices are up nearly 12%. Of the closed sales 530 or 20.4% are REO with a median price of $124,777; 104 or 4.0% are short sales with a median price of $155,000; and 1,966 or 75.6% are equity sales with a median price of $195,000.

Cash sales are still strong with 1,054 or 40.5% of all sales closing for all cash with a median sales price of $125,000. The remaining 1,546 or 59.5% closed with some type of financing at a median price of $204,537.

David Welch Real Estate Optimist, Orlando Real Estate

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There are currently 10,281 homes listed as active with Orlando Realtors®. While inventory continues to hold pretty steady, the absorption rate dropped causing our months supply to move up to 4.5. Of the homes listed as active, 787 or 7.7% are REO, only 407 or 4.0% are short sales and 9,087 or 88.4% are traditional equity sales.

Pending sales have slid a bit, but there are still 6,231 properties listed as either Active with Contract or Pending. Of those properties with contracts pending, 1,026 or 16.5% are REO, 1,260 or 20.2% are short sales and 3,945 or 63.3% are equity sales.

Here is the big news. Sales for January were down to 2,277 which is over 28% drop from December. Prices were also down more than 4% from the last month of 2015. The bigger news is that the 2,277 sales last month were also fewer than January 2015’s 2,373 closed sales by about 4%. That is the first time in over four years that year over year sales have declined. The median sales price last month was up over 17.5% compared to last January’s $153,000, so that is some good news for sales. Here how they broke down. There were 512 or 22.5% REO sales with a median sales price of $121,260; 111 or 4.9% short sales with a median price of $125,000; and 1,654 or 72.6% equity sales with a median price of $205,000.

Closed short sales accounted for only 8.8% of the pending short sales, and are still taking 265 days to close. Cash sales are still a big factor in the market with 849 or 37.3% of the sales closing for all cash with a median price of $117,500. The remaining 1,428 or 62.7% of sales closed with some type of financing with a median price of $210,000.

David Welch Real Estate Optimist, Orlando Real Estate

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There are 10,450 homes for sale listed by Orlando Realtors® and 5,551 homes listed as contract pending. Of the homes still available for sale 1,084 are foreclosures and 448 are short sales. Of the homes with contracts pending, 965 are foreclosures and 1,344 are short sales.

Too early Orlando real estate sales statistics for December: 2,326 closed sales with a median sales price of $184,700. Inventory and contracts pending continue a pretty steep decline this month as we finish up an otherwise hot year in Orlando real estate.

David Welch Real Estate Optimist, Orlando Real Estate

151 E Washington St Unit 621

The view of Downtown Orlando’s Lake Eola from The Metropolitan at Lake Eola

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There are 10,771 homes for sale listed by Orlando Realtors® and 6,004 homes listed as contract pending. Of the homes still available for sale 1,189 are foreclosures and 444 are short sales. Of the homes with contracts pending, 1,042 are foreclosures and 1,392 are short sales.

Way too early Orlando real estate sales statistics for December: 347 closed sales with a median sales price of $173,769. Inventory, contracts pending and sales have all declined, but are still outpacing last year’s numbers.

David Welch Real Estate Optimist, Orlando Real Estate

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There are 10,886 homes for sale listed by Orlando Realtors® and 6,404 homes listed as contract pending. Of the homes still available for sale 1,189 are foreclosures and 453 are short sales. Of the homes with contracts pending, 1,112 are foreclosures and 1,455 are short sales.

Way too early Orlando real estate sales statistics for November: 1,086 closed sales with a median sales price of $177,250. Sales have definitely slowed from the red hot summer pace.

David Welch Real Estate Optimist, Orlando Real Estate

30531 Orange Dr for Sale

30531 Orange Dr for Sale

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Nov

9

October was a bit down compared to September. First, inventory has continued to decline slightly. There are currently 10,953 properties listed as active by Orlando Realtors®. That is down a little over 200 homes from last month. Of the home listed active 1,211 or 11.1% are REO, 467 or 4.3% are short sales, and 9,275 or 84.7% are equity sales. The number of properties with contracts pending is also down slightly from September. There are currently 6,266 pending properties. Of the properties with contracts 1,085 or 17.3% are REO, 1,485 or 23.7% are short sales, and 3,696 or 59% are equity sales.

Closed sales are also down a bit from last month. There were 2,956 closed transactions in October with a median sales price of $179,000. Of the closes sales 640 or 21.7% were REO with a median price of $113,682; 110 or 3.7% were short sales with a median price of $125,000; and 2,206 or 74.6% were equity sales with a median price of $200,000. The 110 closed short sales represents just 7.4% of the pending short sales. Overall prices were down compared to September, but way up compared to a year ago. Last year we saw 3,242 closed sales with a median price of $155,000. So, sales are down nearly 9%, but prices are up over 15% compared to a year ago. Our cash sales continue to decline too with 1,139 or 38.5% of October’s sales closing for all cash with a median price of $121,000. The remaining 1,817 or 61.5% of the sales had a median price of $210,000 and closed with some type of financing.

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There are 12,237 homes for sale listed by Orlando Realtors® and 6,464 homes listed as contract pending. Of the homes still available for sale, 1,297 are foreclosures and 479 are short sales. Of the

1132 Hardy Ave for Sale

New townhouse in #Colonialtown #Mills50 area.

homes with contracts pending, 1,111 are foreclosures and 1,521 are short sales.

Way too early Orlando real estate sales statistics for December: 1,674 closed sales with a median sales price of $179,900. The red hot summer sales may be cooling.

David Welch Real Estate Optimist, Orlando Real Estate

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