May sales recorded 288 closings which was down 13% down on the April total of 325 sales. Total inventory levels across the 200 plus short term rental communities tracked by team Donovan fell by 170 homes last month to revise the month end inventory figure to 1301 homes available for purchase. The average days on market that a home now takes to sell was unchanged at 148 days with the average percentage price achieved of sold homes down slightly at 95.2% representing a 0.3% adjustment from last months figure. The number of homes remaining under contract awaiting closure recorded as 1100 which was little changed from the April pending figure of 1085. During the month 110 homes withdrew from the market having been unable to secure a confirmed purchaser during the listed period. The current total inventory level of homes available for sale at the current monthly sales pace reflects a 4.5 month supply of active listings which brings overall inventory levels to  the lowest levels seen for over 4 years.  

Orlando…

Orlando sales for April were down 9.68% compared to April 2010, with 2,388 homes changing hands during the month. Year to date, sales so far are 1.82% above sales for the same period of 2010. Orlando’s median price experienced its third month on month gain, with area homes selling for a median of $105,000 which is  8.70% lower than April 2010’s median of $115,000. Homes of all types spent an average of 104 days on the market before coming under contract and the average home selling for 94.10% of its listed price. In April 2010 those respective numbers were 81 days and 95.8%. Total condo sales in Orlando last month of 465 were down 22.4% when compared to April 2010 when total sales achieved 598.  Other figures released during the past month may suggest that the Orlando price gap between distressed and regular home sales appears to be narrowing. According to one report released during the month by RealtyTrac Inc buyers and sellers in the four county Metro Orlando area last year saw a 24% difference between the prices paid for distress related sales and those paid for conventional transactions which was down from 30% in 2009.  Price differentials were less evident where the gap fell from 32% in 2009 to 28% last year. The average price paid for the 20,418 foreclosure and pre foreclosure homes sold last year in Orange, Seminole, Osceola and Lake counties was $111,938 which was down from $122,688 in 2009. The Florida Realtors' monthly release of existing home sales data showed that Metro Orlando had one of the more modest price declines in the state last month with one of the smallest increases in sales. The metro area's median price has now fallen from $123,500 in 2009 to $119,700 representing a 3% decline.