CENTRAL FLORIDA
MONTHLY HOUSING MARKET UPDATES
These days, the Central Florida real estate market is ever-changing - on nearly a daily basis. Right now, short sales, foreclosures and bank owned properties dominate the marketplace. But are they really a good deal? Are prices going down or up? How much inventory is out there? What is the average price of a home here in Central Florida? What are the latest trends?
During the month, many various organizations send us information, opinions and editorials and statistical data specific to the Central Florida real estate marketplace.
Each month we compile, edit, and interpret the various pieces sent to us and condense them into a report which we hope you will find useful.
Normal (aka arms-length) sale inventory is down 13.0% from last year and bank-owned inventory is now down by 44.2% from a year ago. This is the twenty-sixth month in a row the bank-owned inventory number has dropped. Short sale inventory declined again and is now down by 69.2% from a year ago.
It now appears that short sales and foreclosures are no longer influencing the overall Orlando housing market. Recent articles have pointed out that in most places in
What is notable in the above statistics is that all over the Orlando MSA there have been numerous housing starts and new communities developed. Despite the new inventory from numerous new home builders – which does not typically show up on the
Of the 2,715 closed sales in December, 1,860 or 68.51% were “normal”, 137 were short sales (5.05%) and 718 (26.45%) were bank-owned. The number of normal sales increased by 14.04% compared to a year ago while the number of short sales fell by 60.74%. However, bank-owned sales increased by 55.08
The median (usually close to the average) price of all homes sales rose 10.8% from a year ago to $205,000. This resumes the previous 61 month record of rising prices for the Orlando MSA. Sixty-six of the past 67 months have seen year over year price increases in the Orlando MSA.
Remember however - the median price above encompasses all sales types. Individual types fluctuate at different rates. The median price
The current inventory is 13.4% lower than last year at this time when adjusted for the aforementioned change (20.7% unadjusted) and down by .5% from last month. These inventory numbers include all homes: single family homes, condos, duplexes and townhomes. For comparison: In December of 2008, there were 22,524 on the market. In March 2013, which was where inventory bottomed out, there were only 6,937. Normal (aka arms-length) sale inventory is down 13.5%
There are now just 8,590 homes on the market, down from 9,270 last month and 10,025 the month before. A year ago this month there were 10,364. Two years ago there were 11,557 on the market. The current inventory is 19.20%
Inventory numbers moved downward again this month. The number is a seemingly significant drop, but really doesn’t depart from the general slow and steady decline over the past six or so months. This is because one of the designations used during the real estate melt-down was removed this past month by the Multiple Listing Service. This long-anticipated move took a significant number of properties from the “Active”,
There were 2,654 closings (actual sales) in October – a decrease of 7.75% from a year ago and down 14.66% from a year ago. Single family home sales decreased 6.38% and condo sales were down 14.03% compared to a year ago. Of the sales in October, 88.09% (2,338) were normal, arms-length transactions. Short sales made up only 2.83% (75) and Bank Owned properties rounded
There were 3,091 closings (actual sales) in September – an increase of 2.59% from a year ago but down 10.43% from a year ago. Single family home sales increased 1.43% and condo sales were up 6.51% compared to a year ago. Of the sales in September, 89.49% (2,766) were normal, arms-length transactions. Short sales made up only 2.75%
Normal (aka arms-length) sale inventory is up 1.01%% from last year and bank-owned inventory is now down again by 66.79% from a year ago. This is the seventeenth month in a row this inventory number has dropped. Short sale inventory declined again and is down by
The median (usually the average) price of all homes sales rose 15.00% from a year ago to $207,000, and up 1.93% from last month. The Orlando Florida metro area market has now posted positive year-over-year gains in price for 59 consecutive months. However, remember - the median price above encompasses all sales types. Individual types fluctuate at different rates. The median price for a normal-sale single family existing home was
Normal (aka arms-length) sale inventory is up 1.68% from last year and bank-owned inventory is now down again by 65.96% from a year ago. This is the fifteenth month in a row this inventory number has dropped. Short sale inventory declined again and is down by 47.40% from a year ago. Single family home inventory is down 9.08% from a year ago, and the condo inventory is down by 16.64%. The inventory of duplexes, townhomes and villas is
The median (usually the average) price of all homes sales rose 9.66% from a year ago to $191,900, and up 1.59% from last month. The Orlando Florida metro area market has now posted positive year-over-year gains in price for 57 consecutive months. However, remember - the median price above encompasses all sales types. Individual types fluctuate at different rates. The median price for a normal-sale single family existing home was $201,063 - a year
There were 3,022 closings (actual sales) in March – a decrease of 3.51% from a year ago, but an impressive 25.13% increase from February. Single family home sales decreased 2.54% and condo sales
The median (usually the average) price of all homes sales rose 12.19% from a year ago to $185,000, and up 2.78% from last month. The Orlando Florida metro area market has now posted positive year-over-year gains in price for
The median (usually the average) price of all homes sales rose 13.87% from a year ago to $176,500, but down 4.59% from last month. The Orlando Florida metro area market has now posted positive year-over-year gains in price for 54 consecutive months. The year-over-year increase for single family homes was
The median (usually the average) price of all homes sales rose 9.47% from a year ago to $185,000, and up 0.54% from last month. The Orlando Florida metro area market has now posted positive year-over-year gains in price for 53 consecutive months. The year-over-year increase for single
The median (usually the average) price of all homes sales rose 10.30% from a year ago to $182,000, and up 1.17% from last month. The Orlando Florida metro area market has now posted positive year-over-year gains in price for 52 consecutive months. The year-over-year increase for single family homes was 13.60% while condos increased 4.22%. However, remember - the median price above encompasses all sales types. Individual types fluctuate. Normal (no distress) sales rose
There were 2,800 closings in October – a 3.05% decrease from September of last year, and down 7.07% from last month. Single family home sales increased only .14% while
The inventory numbers moved down again this month, albeit again just slightly. There are now 11,553 homes on the market, down from 11,661 last month and down from 11,899 homes the previous month. The current inventory is 6.36% lower than this time last year and down 1.10% from last month. The inventory numbers include all homes: single family homes, condos, duplexes and townhomes. For comparison: In December of 2008, there