Market Statistics

Talking Points: August 2010

Orlando home sales in July 2010 were up 3.83 percent over July 2009.
Of the 2,387 sales in July, 740 “normal” sales accounted for 31.00 percent of all sales, while 1,131 bank-owned and 514 short sales made up 69.00 percent.
Pending sales are up 18.41 percent, with 9,133 pending homes in July of this year compared to 7,713 in July of last year.
Condo sales in the Orlando area increased by 35.64 percent in July when compared to July of last year. Duplex, town home, and villa sales increased 27.47 percent.

The median price of all existing homes combined sold in July 2010 decreased 17.37 percent to $109,900 from the $133,000 recorded in July 2010. July 2010’s median price is a decrease of 4.43 percent compared to June 2010’s median of $115,000.

July’s $109,900 median price encompasses all types of sales situations and home types. The median price for “normal” sales is $179,138 (up 4.15 percent from last month’s $172,000). The median price for bank-owned sales is $73,999 (down 4.52 percent from last month’s $77,500), and the median price for short sales is $115,000 (steady from last month’s $110,000).
The Orlando affordability index increased to 243.74 percent in July. First-time homebuyer affordability in July increased to 173.32 percent.
Homes of all types spent an average of 85 days on the market before coming under contract in July 2010, and the average home sold for 94.89 percent of its listing price.
There are currently 16,563 homes available for purchase through the MLS. The July 2010 inventory level is 3.88 percent lower than it was in July 2009 (17,231). The current pace of sales translates into 6.94 months of supply; July 2009 recorded 7.49 months of supply.

Files

Featured Events