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 Optimist, Orlando Real Estate

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2277 Osprey Ave

Baldwin Park Townhome
SOLD

There are 11,563 homes for sale listed by Orlando Realtors® and 7,635 homes listed as contract pending. Of the homes still available for sale, 1,344 are foreclosures and 534 are short sales. Of the homes with contracts pending, 1,518 are foreclosures and 1,657 are short sales.

Too early Orlando real estate sales statistics for July: 2,659 closed sales with a median sales price of $180,000. We should still beat 3,000 closed sales this month.

David Welch Real Estate Optimist, Orlando Real Estate

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There are 11,751 homes for sale listed by Orlando Realtors® and 7,112 homes listed as contract pending. Of the homes still available for sale, 1,435 are foreclosures and 545 are short sales. Of the homes with contracts pending, 1,539 are foreclosures and 1,188 are short sales.

Way too early Orlando real estate sales statistics for July: 1,624 closed sales with a median sales price of $183,115.

David Welch Real Estate Optimist, Orlando Real Estate

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Check out this flyer with potential reverse mortgage options for 30531 Orange Dr. This 3/2.5 2,400 square foot home sits on one of the most beautiful lots on Lake Harris. One acre with a private boat ramp, dock and boat house. This home has a gorgeous view of the lake, and 144′ of frontage. Sit on the dock and watch the annual fireworks.

Flyer – David Welch – 30531 Orange Drive – 449900

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baldwin_05

Grace Hopper Hall in Baldwin Park

The red hot sales of summer are still going strong here in The City Beautiful. Brisk sales and higher prices have also attracted more prospective sellers. There are currently 11,697 active listings which is up a tad from last month, but lower than last years 11,839. Of the homes listed as available, only 1,445 or 12.4% are REO, 531 or 4.5% are short sales and 9,721 or 83.1% are equity sales. REO listings are down about 25%, short sales are down over 50%, while equity listings are up over 10% from last year.

As strong as sales are, we have had a slight decline in pending properties. I attribute this to having so many fewer short sales clogging things up. There are currently 7,119 properties with contracts on them. Of the home listed as pending or active with contract, 1,578 or 22.2% are REO, 1,239 or 17.4% are short sales, and 4,302 or 60.4% are equity sales. Overall pending sales are down from 7,882 a year ago. Pending REO contracts are up slightly, equity contracts are up nearly 30%, but short sale contracts are down nearly 59% from last year.

Now to the strongest showing this year for sales. There were 3,729 closed sales in June with a median sales price of $180,000. Sales are up 23.8% from a year ago, and prices are up 9.2% from last year. Of the homes that closed last month, 883 or 23.7% are REO sales with a median price of $114,000; only 148 or 4.0% are short sales with a median price of $138,000; and 2,698 or 72.4% are equity sales with a median price of $205,000. The number of REO sales is up nearly 10%, short sales down nearly 40%, and equity sales up over 37% from a year ago. Sales were so strong last month that even with the growing inventory of homes for sale, the months supply dropped to just 3.14. Cash sales were up compared to last year, but actually made up a smaller percentage of closed sales. There were 1,429 or 38.3% of the sales with a median price of $116,000 closing for all cash last month. The remaining 2,300 or 61.7% of closed sales had a median price of $210,000.

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There are 11,780 homes for sale listed by Orlando Realtors® and 8,097 homes listed as contract pending. Of the homes still available for sale, 1,451 are foreclosures and 565are short sales. Of the homes with contracts pending, 1,710 are foreclosures and 1,770 are short sales.

Early Orlando real estate sales statistics for June: 3,028 closed sales with a median sales price of $180,000. Another month with over 3,000 closed sales. That is three months in a row with greater than 3,000 closed sales.

David Welch Real Estate Optimist, Orlando Real Estate

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There are 11,675 homes for sale listed by Orlando Realtors® and 8,247 homes listed as contract pending. Of the homes still available for sale, 1,519 are foreclosures and 558 are short sales. Of the homes with contracts pending, 1,716 are foreclosures and 1,801 are short sales.

Too early Orlando real estate sales statistics for June: 2,161 closed sales with a median sales price of $179,000. The heat wave continues through June. Almost halfway through the year, and just about every measure of our real estate market is up. Prices, sales and inventory are all higher. Month to date sales through today are up 34% from last year. The median price is up just over 10% as compared to this time last year, while inventory is up less than 1% from a year ago today.

Here is a link to my blog from June 23, 2014 – Orlando real estate blog

David Welch Real Estate Optimist, Orlando Real Estate

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