Orlando property sales continue to increase in October 2009
Foreclosures and short sales account for two-thirds of Orlando’s
home closings
Members of the Orlando Regional REALTOR Association completed sales of 55
percent more homes in October of this year than last. Of those October
sales, 62 percent of the homes were foreclosures; “normal” sales made up 38
percent.
The median price of all existing homes sold in October 2009 increased 4.0
percent from September 2009. The median price encompasses all types of sales
situations, with the median price for foreclosures in the month being 53% of
the median price for “normal” sales
There are currently almost three times the number of pending sales than in
October of last year. A total of 3,864 sales contracts were newly filed in
the month of October alone, which is the most in a single month this year
and a jump of 98 percent compared to October 2008.
Inventory decreased from September 2009. Compared to last year, the October
2009 inventory level is 36 percent lower than it was in October 2008.
Increased sales activity has led inventory months-of-supply to decline by 67
percent since January 2009.
Posted: 10 November 2009
Source: Florida Association of Realtors
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