I like to break down our local markets by the type of sales, because we see some pretty big differences in the properties and prices. In Winter Park this is especially true. There are currently 340 active listings with a median asking price of $407,000. If we break that down, there are only 17 or 5% bank owned properties listed for sale with a median price of $154,000, 56 or 16.5% short sales with a median price of $177,000 and the remaining 267 or 78.5% equity sales have a median asking price of $569,000. In the Orlando market overall bank owned and short sales make up about 40% of the active inventory, so Winter Park definitely has a smaller percentage of distressed properties for sale.

I posted the numbers on closed sales last month in my previous blog, but I did not break them down by the type of sale. Of the 57 closed last month with an overall median sales price of $160,000, there were 10 or 17.5% REO with a median sales price of $41,350 (not a typo), 13 or 22.8% short sales with a median sales price of $39,000 (still not a typo), and 34 or 59.6% equity sales with a median price of $220,500. Compared to the Orlando metro where equity sales make up about 40% of the closings, Winter Park has a much higher prevalence of "normal" sales.