Inventory continues to rise with 12,439 homes currently listed as active by Orlando Realtors®. Of that number 2,141 or 17.2% are REO, 1,115 or 9.0% are short sales and 9,183 or 73.8% are equity sales. The pending inventory continues to creep down as we slowly work through the short sales. There are 7,270 properties listed as pending or active with contract. Of those 1,576 or 21.7% are REO, 2,593 or 35.7% are short sales and 3,101 or 42.7% are equity sales.
Sales were actually pretty darn good for August with 2,974 properties changing hands last month with a median sales price holding steady at $165,000. Of the homes that sold last month, 798 or 26.8% are REO with a median price of $110,500; 221 or 7.4% are short sales with a median price of $132,000; and 1,955 or 65.7% are equity sales with a median price of $192,000. The 221 short sales represents just 8.5% of the short sale pending inventory. Cash sales remain strong, but the percentage of transactions closing for all cash continues to decline as investor activity slows. There were 1,240 or 41.7% of the total sales closing with no financing with a median price of $106,700. The remaining 1,734 or 58.3% of the sales closed with some form of financing with a median price of $195,000.