RE/MAX 200 Realty BK645994

Orlando Real Estate

#OrlandoRealEstate
Inventory of available homes in Orlando is pretty low right now with only about a 3.5 month supply based on last month's absorption rate. When I break that inventory down by price range, you can see just how low the inventory really is. Our median sales price in Orlando is around $200,000. That means half of all closed sales are at or below $200,000. The median list price is around $278,000, so there is a bit of a disparity between sales prices and list prices. This isn't to say that sellers are necessarily asking too much for their homes, I'm just pointing out that there is a lot more demand for more modestly priced homes.

Price Range Available Sold Month's Supply
< $100,000 876 380 2.3
$100,000-$200,000 2048 1027 2.0
$200,000-$300,000 2636 828 3.2
$300,000-$400,000 1634 308 5.3
$400,000-$500,000 838 128 6.5
>$500,000 1837 134 13.7
Total 9869 2805 3.5

As you can see from this breakdown, there is a pretty short supply of homes priced under $300,000. These numbers include active inventory and last month's sales of all types of homes by Orlando Realtors®. Notice homes priced from $100,000 - $200,000 are in the most popular price range for buyers leaving us with just a two month supply of homes available for sale. Typically, we have considered a six month supply to be a 'balanced' market. Home priced under $300,000 are all in pretty short supply, while homes priced from $300,000 to $500,000 are considered to be in a balanced market. Only homes priced over $500,000 are plentiful with more than a one year supply available for sale.
Orlando Real Estate


Posted by David W. Welch on November 18th, 2016 1:35 PMLeave a Comment

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November 15th, 2016 11:30 AM
Please take a look at this brief video with a breakdown of the #OrlandoRealEstate market for October 2016.  REO and short sales have become such a small percentage of the market locally, I am no longer reporting on them separately in my blog. I am also happy to say our MLS is getting rid of the 'Active with Contract' status. In my personal opinion it was uneccesary and confusing for consumers.

Posted by David W. Welch on November 15th, 2016 11:30 AMLeave a Comment

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October 18th, 2016 2:13 PM
Check out these homes in the Conway area of Orlando.

Most Expensive Homes in Conway

Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on October 18th, 2016 2:13 PMLeave a Comment

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October 17th, 2016 12:02 PM

Take a moment to watch this short video with the latest #OrlandoRealEstate market report courtesy of the Orlando Regional Realtor Association.


David Welch Real Estate Optimist, Orlando Real Estate


Posted by David W. Welch on October 17th, 2016 12:02 PMLeave a Comment

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September 26th, 2016 1:06 PM
Buying or selling, makes sure you work with an experienced agent. Here are some of my past sales.



Posted by David W. Welch on September 26th, 2016 1:06 PMLeave a Comment

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September 21st, 2016 11:28 AM
Be sure to check out my site RealT-Orlando.com powered by Zillow. #OrlandoRealEstate


RE/MAX 200 Realty

Posted in:Listings and tagged: Orlando real estate
Posted by David W. Welch on September 21st, 2016 11:28 AMLeave a Comment

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September 15th, 2016 12:09 PM

 

David Welch Real Estate Optimist, Orlando Real Estate


Posted by David W. Welch on September 15th, 2016 12:09 PMLeave a Comment

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September 13th, 2016 2:27 PM

August sales remain strong, even as inventory continues to decline. There are currently only 9,847 homes listed as active by Orlando Realtors®. Based on last month's absorption rate, that is just under a 2.75 month supply of inventory available for sale. Of the properties listed as active, 421 or 4.3% are REO, 229 or 2.3% are short sales and 9,197 or 93.4% are traditional equity sales.

The drop off in distressed properties has also been driving down the pending sales. There are currently 6,145 properties listed as either active with contract or pending. Of the properties with contracts on them, 592 or 9.6% are REO, 979 or 15.9% are short sales and 4,574 or 74.4% are equity sales.

Closed transactions in August were still very strong with 3,582 homes selling with a median sales price of $202,300. Both sales and prices are up compared to a year ago, with sales up just over 12% and the median price up nearly 12% as well. Of the properties that sold last month, 377 or 10.5% are REO, with a median price of $129,100; only 89 or 2.5% are short sales with a median price of $157,000; and 3,116 or 87% are equity sales with a median price of $215,000.

Cash sales still make up 32.2% of the closed transactions with 1,153 closing last month with a median price of $139,900. Financed sales made up the remaining 2,429 or 67.8% of the closed transactions with a median price of $224,000.

David Welch Real Estate Optimist, Orlando Real Estate


Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on September 13th, 2016 2:27 PMLeave a Comment

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Please check out the latest #OrlandoRealEstate market summary for July 2016 provided by the Orlando Regional Realtor® Association.



Posted by David W. Welch on August 15th, 2016 1:26 PMLeave a Comment

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August 10th, 2016 3:22 PM

Inventory is up a bit, and sales are down a little from June, but prices are holding steady. Currently, there are 10,054 homes of all types listed as active by Orlando Realtors®. Of those active listings, 443 or 4.4% are REO, 237 or 2.4% are short sales, and 9,374 or 93.2% are traditional, equity sales. Based on July's absorption rate, we still have less than a 2.9 month supply of inventory active on the market.

Pending sales are also down a bit this month with 6,354 homes listed as either pending or active with contract. Of those properties with contracts on them, 649 or 10.2% are REO, 968 or 15.2% are short sales and 74.6% are equity sales. 

Although sales were down compared to June, they were slightly stronger than the same month a year ago. The 3,474 closed sales last month was just over 2.5% higher than July 2015's closings of 3,388. The median price however was up double digits compared to last year. The median sales price last month was $205,000 compared to $183,900 a year ago. That is an 11.4% increase in the median price overall. Of the closed sales last month, 322 or 9.3% are REO with a median price of $122,805; 116 or 3.3% are short sales with a median price of $128,500; and 3,036 or 87.4% are equity sales with a median price of $219,000.

The 116 closed short sales represented 12.0% of the pending short sales, and took on average 251 days to close. Of the closed sales last month, 1,039 or 29.9% are cash transactions with a median price of $132,000. The remaining 2,435 or 70.1% of the sales closed with some type of financing with a median price of $227,000.

David Welch Real Estate Optimist, Orlando Real Estate


Posted by David W. Welch on August 10th, 2016 3:22 PMLeave a Comment

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