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STATS SHOTS Homebuyer demand illustrated by days on market The days-on-market statistic never fails to yield fascinating information and uncover hidden trends! Here’s a look at days on market from several perspectives. Weeks 1 2 3 4 4 + Total Sales 1,136 30% 447 12% 291 8% 284 7% 1,659 44% 3,817 Believe it or not, there were even homes sold in May that listed and went pending on the very same day! MAY 2017 LISTING TO PENDING BY DAYS Days 0 1 2 3 4 5 6 7 0-7 Sales 156 4% 110 3% 151 4% 167 4% 163 4% 143 4% 136 4% 110 3% New contracts contradict decreases in inventory Despite the current free fall of inventory in Orlando, new contracts are on the rise. Are homebuyers settling for those less-than-desirable homes that had remained on the market for long periods? Are they increasing their budgets and moving into price categories that are not quite as buyer-competitive? MONTH Inventory New Contracts JANUARY -21% 19% FEBRUARY -21% 19% MARCH -19% 22% APRIL -17 18% MAY -17% 27% YEAR TO DATE -19 21% 1,136 30% By far, Orlando homes that sold during May either came under contract within one week or beyond one month. Let’s see how that trend persisted — and evolved — from the start of the year to midst of Orlando’s traditional homebuying season. JANUARY TO MAY 2017 LISTING TO PENDING BY DURATION Total Sales 0-7 Days on Market 31+ Days on Market January 2,213 461 20% 1,180 53% February 2,482 525 21% 1,363 55% March 3,477 902 26% 1,672 48% April 3,092 886 29% 1,390 45% May 3,817 1,136 30% 1,659 44% Almost 60 percent of Orlando homes that closed during the month of May moved from listing to pending in four weeks. Not only that, but nearly 30 percent went on and then off the market in just one week! MAY 2017 LISTING TO PENDING BY WEEKS 2016 VS 2017 INVENTORY AND NEW CONTRACT COMPARISON January February March April May �������� �������� ���������� Orlando #2 US Metro for Job Seekers orlandorealtors.org 5


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