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Orlando Real Estate

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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Please take a moment to watch this short video provided by the Orlando Regional Realtor Association with market highlights for June 2016. To stay updated on the very latest market trends and more, stay right here on my top ranked blog RealEstateOptimist.com.



Posted by David W. Welch on July 15th, 2016 11:02 AMLeave a Comment

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July 12th, 2016 3:40 PM

Inventory is up just a tad, but at the current absorption rate, there is just a 2.65 month supply of homes available in Orlando. Currently, there are 9,975 homes of all types listed as active by Orlando Realtors®. Of those, only 464 or 4.7% are REO, 263 or 2.6% are short sales, and 92.7% are traditional equity sales. Pending sales are down a bit at 6,678 with 666 or 10.0% REO properties, 1,037 or 15.5% short sales and 4,975 or 74.5% equity sales being listed as either active with contract or pending.

Close sales for the month are very strong with 3,769 consummated transactions last month with a median price of $205,000. Total sales are up 4.6% from a year ago, and prices are up nearly 13,9%. Of the closed sales in June, only 393 or 10.4% are REO with a median price of $124,500; 117 or 3.1% are short sales with a median price of $160,000; and 3,259 or 86.5% are equity sales with a median price of $215,000. Cash sales have plummeted as prices have risen. Only 1,077 or 28.6% of last months sales closed for all cash with a median sales price of $132,000. The remaining 2,692 or 71.4% closed with some type of financing with a median price of $223,515.

David Welch Real Estate Optimist, Orlando Real Estate


Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on July 12th, 2016 3:40 PMLeave a Comment

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Check out this video courtesy of RE/MAX LLC breaking down the national housing report for June 2016. Nobody sells more real estate than RE/MAX. To keep up with the latest market updates for Orlando, stay right here on RealEstateOptimist.com.



Posted by David W. Welch on June 29th, 2016 8:02 AMLeave a Comment

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Here are a few things I see trending in Orlando real estate.
  • Interest rates continue to defy the conventional wisdom that what goes down, must go back up. We are sitting just below 4%, but everyone is sure mortgage rates will rise. 
  • Prices, on the other hand are rising. For the first time since 2008 (that's eight years folks) our median sales price is over $200k. We do tend to see higher prices in June and July, since those are the hottest two months for families with children (i.e. bigger houses) to purchase homes. Still, we have seen year over year increases each month for nearly five years straight now. 
  • Our inventory has finally leveled out, but it is at a level that is consider low and favoring sellers. We are currently running just about a 3 month supply of homes available for sale.
  • New agents flooding the market place. Nationally, about 25% of all Realtors joined in the last two years. Here in Orlando, that number is nearly double with 48% of local Realtors joining in the last 24 months. We currently have over 12,000 agents, but fewer than 10,000 active listings.
  • TRID influence on our market is negligible. The crappy mortgage lenders 'big banks' use it as an excuse to take forever to make a loan. The good lenders 'local' are still closing deals like before TRID.
Rents are still crazy, and there is nothing available it seems.  I think this may be changing a little though with all the new apartments being built. Orlando is once again adding jobs at a faster pace than most places around the country. The rising prices also seems to have more builder activity, but they seem to be offering a lot of perks which means the higher market still hasn't quite caught up. REO properties are few and far between, YAY!
All in all, Orlando real estate is definitely back on track.

Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on June 27th, 2016 8:38 AMLeave a Comment

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Here is the latest #OrlandoRealEstate market breakdown from the Orlando Regional Realtor Association for May 2016. There are currently over 12,000 Realtors in Orlando, but fewer than 10,000 homes are available for sale. Last month there were 3,333 home sales with a median sales price of $203,000. That is the highest median sales price since December 2008.

Posted by David W. Welch on June 15th, 2016 10:43 AMLeave a Comment

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Please take a look at this short video update on the Orlando real estate market results for April 2016. Courtesy of the Orlando Regional Realtor® Association.

Posted by David W. Welch on May 16th, 2016 12:58 PMLeave a Comment

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May 11th, 2016 2:58 PM

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


Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on May 11th, 2016 2:58 PMLeave a Comment

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April 25th, 2016 11:41 AM

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%.

David Welch Real Estate Optimist, Orlando Real Estate


Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on April 25th, 2016 11:41 AMLeave a Comment

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