Members of the Orlando Regional REALTOR® Association closed 51.83% more homes in December of this year than last, bringing year-to-date Orlando area sales to 59.31% above 2008. In addition, pending sales finished out the year a whopping 150.02% above 2008. There were 2,194 closings in December, just about double the number of those that took place in December 2008 (1,455). Of those December sales, 67.37% of the homes were either bank-owned (961) or short sales (517). The remaining (716) normal sales made up 32.63%.
There is currently more than double the number of pending sales (8,163) than in December of last year (3,265). A total of 2,984 sales contracts were newly filed in the month of December, which is a jump of 59.49 percent compared to December 2008 (1,871). The median price of all existing homes combined sold in December 2009 increased 1.63 percent to $125,000 from the $123,000 recorded in November 2009. December 2009's median price is a decrease of 25.37 percent compared to December 2008's median of $167,500.
Great to hear the market turning around. I think most home builders and sellers are “optimistic, but cautions” about homes sales in 2010.
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