The market is seeing a remarkable spike in Orlando short sales, an increase in overall median sales price for existing homes and increases in median sales prices for foreclosed properties. The Orlando Regional Realtor Association (ORRA) reported that in November 2011, short sales jumped 39.38 percent versus prior year sales. Surprisingly, the accompanying median sales prices jumped by 7.07 percent; rising from $99,000 to $106,000. The fact is that 73 percent of homes under contract and pending closing are short sales” …Wow! That’s a big number.
Although the performance stats for the Orlando market are encouraging we’re not out of the woods yet. The good news is that there will be some great real estate deals in Orlando for some time to come. If you need to get your Orlando house sold quickly whether it’s foreclosure or not, contact us today.
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