Homes for Sale in Orlando | Jared Jones
Homes for Sale in Orlando | Jared Jones
Everybody, Jared Jones, and this is your central Florida real estate market update. If you’re in a hurry, these are the four things that you need to know that are changing in the market right now. Number one, more are selling that are being replenished by new active inventory. Number two, pending volume number of homes going under contract or way up. Number three, sold volume, actual homes closed, closed unit volume, still slow as it was during massive slow as it was during the Covid lockdown into April and the fourth thing is that fallout volume or the number of homes that are going back to market after they were under contract after a failed sale, that number was really high last month. It’s actually much more healthier and more balanced than it was a month ago. So let’s get started. Here’s the data set. I’ve pulled all of the Orlando’s zip codes, several of them. So let’s get started. The area that I’m looking at, all of Orlando Metro area added winter garden added three, four, seven, one one in Claremont. Here’s what’s going on in the last week, and I’m comparing this to the same exact data criteria from a month ago, which would bring us into the fourth week of April by comparison and this entire area, 275 homes hit the market as new listings. Now this is up 12% from a month ago. Same exact week.
Number one, 275 homes hit the market in the past week. This is a 12% over the same week. A month ago, number two, there were 381 pending. This is an increased by 33%. One of the largest changes in the indicators that we’ve seen in may versus last month sign that buyer activity is increasing. Buyers are becoming more comfortable getting in the market. Now, same week, there were 148 homes sold. So as you can see, the marketplace is still running through may, the sole volume, uh, at least from this particular week track versus last April next point is the soul volume. In the past week, there were 148 soul homes that actually closed and settled in these areas versus 149 same week in April. So as you can see, the actual homes as settled, same with a month ago are really kind of on the same platform. They’re not really adjusted or changed. Now we know based on that high pending number that I just gave you, almost 400. Keep in mind probably 80 or 90 of those are going to fall out. But you can have about 300 net homes that should close at some point in the future. Um, which should bring that number up, um, which should bring the soul volume up. So it’s a sign that things are moving in the right direction.
So a troubling indicator in April at this time that I pulled same week, last month, the volume of homes that went under contract with a buyer and a seller coming to agreement on terms the amount of homes that fell out. There were one home falling out for every two. That winter contract, which is really high when you have 50% fall out. That’s a really high number. Um, and it will, a lot of that was due to the buyers really kind of being nervy still in the marketplace. The other thing was that lending was changing a lot and everybody was trying to get their bearings on exactly what was going on in the lending market. Fast forward to a month later, it’s at 22% last month, so that means only one home out of five. The winter contract actually fell out from the past week as an as a snapshot in Decatur.
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