Oct 15, 2012

Orlando Homes Real Estate Report

Median sale price of Orlando Homes increased by 3.91 percent to $125,000 in September 2012 compared to August 2012 median price of $120,300. The median price has now posted positive year-to-year gains for 14 consecutive months.

The median price foreclosures increased in September by 4.32 percent, short sales by 1.01 percent and normal sales by 6.67 percent.

The percentage of foreclosures and short sales  on the market were both down, coupled with the decline in inventory indicates a continued increase in median sale prices. The number of existing homes available for purchase in Orlando is continuing a steady decline that began back in July 2010 at 16,563 and now rests at 8,073. In September 2012, inventory was 18.71 percent less than it was in September 2011.

The inventory of single-family homes is down by 22.86 percent when compared to September of 2011, while condo inventory has increased by 9.82 percent.

The month-of-supply increased in September when compared to last month: Current inventory combined with the current pace of sales equates to a 3.58-month supply of homes in Orlando.

First-time buyers who earn median incomes of $37,158 can qualify to purchase one of the 3,393 homes in Orange and Seminole counties currently listed in the local multiple listing service priced at or below $189,680.

Information is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment if necessary to record those closings posted after our reporting date. Statistics released each month may be revised in the future as new data is received.

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