I was digging around through some MLS stats yesterday afternoon and put together the following numbers:
Since 7/1/2009 there were: 22,604 residential closings in the 13+ counties that comprise the Mid-Florida MLS. 6,536 were not designated as if they were a distressed sale or not - the MLS started requiring properties to be designated this way on or about September 1.
16,068 were designated as a short sale, bank owned, or neither. Of those 16,068 -- 7,582 (47.2%) were bank owned, 3,524 (21.9%) were short sales, and 4,963 (30.9%) were neither.
Of the 22,604 closings - 9,575 (42.4%) were bought with ALL CASH, 5,511 (24.4%) were bought with FHA or VA mortgages, 6,255 (27.7%) were bought with conventional mortgages, and 1,263 (5.6%) were closed using some other form of creative financing or other financing.
It is surprisng how many cash buyers are out there. It is also surprising how many sales were bank owned compared to the others. Short sales seem to dominate the properties for sale, but are low on the list of closed sales.
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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.
407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com
We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida, metro Orlando, and the Space Coast. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available. Our firm also provides flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Florida including Orlando, Altamonte Springs, Apopka, Kissimmee, Sanford, Lake Mary, and Deltona.
Great stats Rob. Cash buyer are abundant right now. 70% REOs and short sales would be low for my area. I think we are closer to 85% in Poinciana. I am starting to see a lot of flips come back on the market. The market is very active.
Rob, our county is not part of the mid-Florida MLS so it's interesting to see these numbers. Short sales are the lowest percentage of homes sold here too, they just take so long that many buyers are shying away from them.