January's Market Update (scroll down to see last month's update)

Avg. Mortgage Rate                 Inventory                             Sales Closed                   Avg. Days on Market 
4.92% / 5.03% ('09)       14/993 / 15,549 ('09)         2368 / 2410 ('09)                   96 / 89 ('09)  
                   

January's Market Moment

Orlando home sales in December 2010 were down 1.74 percent over December 2009.

Of the 2,368 sales in December, 741 “normal” sales accounted for 31.29 percent of all sales, while 1,028 bank-owned and 599 short sales made up 68.71 percent.

Pending sales are up 2.45 percent, with 8,363 pending homes awaiting closing in December of this year compared to 8,163 in December of last year.

Condo sales in the Orlando area increased by 7.74 percent in December when compared to December of last year. Duplex, town home, and villa sales increased 6.16 percent.

The median price of all existing homes combined sold in December 2010, $106,000, is a 11.67 percent decrease from the $120,000 median price recorded in December 2009.

The median price for “normal” existing homes sold in December is $160,000. The median price for bank-owned sales is $75,000 and the median price for short sales is $100,000. The lower median prices of bank-owned and short sales, which accounted for 68.71 percent of all sales in December, continue to exert a downward influence on the overall median price.

The Orlando affordability index decreased to 246.73 percent in December. First-time homebuyer affordability in December decreased to 175.45 percent.

Homes of all types spent an average of 96 days on the market before coming under contract in December 2010, and the average home sold for 94.40 percent of its listing price.

There are currently 14,993 homes available for purchase through the MLS. The December 2010 inventory level is 3.58 percent lower than it was in December 2009 (15,549). The current pace of sales translates into 6.33 months of supply; December 2009 recorded 6.45 months of supply.



December's Market Update (scroll down to see last month's update)

Avg. Mortgage Rate                 Inventory                             Sales Closed                   Avg. Days on Market 
         4.49%                                  16,002                                      1848                                           97


December's Market Moment

Orlando home sales in November 2010 were down 20.65 percent over November 2009.

Of the 1,848 sales in November, 616 “normal” sales accounted for 33.33 percent of all sales, while 740 bank-owned and 492 short sales made up 66.67 percent.

Pending sales are up 4.23 percent, with 8,993 pending homes awaiting closing in November of this year compared to 8,633 in October of last year.

Condo sales in the Orlando area decreased by 6.45 percent in November when compared to November of last year. Duplex, town home, and villa sales decreased 24.89 percent.

The median price of all existing homes combined sold in November 2010, $105,000, is a 14.63 percent decrease from the $123,000 median price recorded in November 2009. November 2010’s median price is exactly the same as both the September and October 2010 median price.

The median price for “normal” existing homes sold in November is $159,900. The median price for bank-owned sales is $78,101 and the median price for short sales is $99,950. The lower median prices of bank-owned and short sales, which accounted for 66.67 percent of all sales in November, continue to exert a downward influence on the overall median price.

The Orlando affordability index decreased to 261.95 percent in November. First-time homebuyer affordability in November decreased to 186.28 percent.

Homes of all types spent an average of 97 days on the market before coming under contract in November 2010, and the average home sold for 94.08 percent of its listing price.

There are currently 15,192 homes available for purchase through the MLS. The November 2010 inventory level is 1.61 percent lower than it was in November 2009 (16,002). The current pace of sales translates into 8.22 months of supply; November 2009 recorded 6.87 months of supply.







November's Market Update (scroll down to see last month's update)

Avg. Mortgage Rate                 Inventory                          Sales Closed                Avg. Days on Market 
    4.28%                                       15,441                                  1848                                           91 

                    Figures represent Orange & Seminole Counties as of Nov 2010
              
                 
November's Market Moment

Orlando home sales in October 2010 were down 20.31 percent over October 2009.

Of the 1,848 sales in October, 605 “normal” sales accounted for 32.74 percent of all sales, while 760 bank-owned and 483 short sales made up 67.26 percent.

Pending sales are down 2.57 percent, with 8,817 pending homes awaiting closing in October of this year compared to 9,050 in October of last year.

Condo sales in the Orlando area increased by 0.70 percent in October when compared to October of last year. Duplex, town home, and villa sales increased 0.50 percent.

The median price of all existing homes combined sold in October 2010, $105,000, is a 19.23 percent decrease from the $130,000 median price recorded in October 2009. October 2010’s median price is exactly the same as September 2010’s median.

October’s $105,000 median price encompasses all types of sales situations and home types. The median price for “normal” sales is $173,000 (up 10.20 percent from last month’s $156,990). The median price for bank-owned sales is $70,000 (down 1.41 percent from last month’s $71,000), and the median price for short sales is $90,000 (down 20.70 percent from last month’s $113,500).

The Orlando affordability index increased to 267.93 percent in October. First-time homebuyer affordability in October increased to 190.52 percent.

Homes of all types spent an average of 91 days on the market before coming under contract in October 2010, and the average home sold for 94.61 percent of its listing price.

There are currently 15,441 homes available for purchase through the MLS. The October 2010 inventory level is 1.92 percent higher than it was in October 2009 (15,743). The current pace of sales translates into 8.36 months of supply; October 2009 recorded 6.79 months of supply.











October's Market Update (scroll down to see last month's update)

Avg. Mortgage Rate                 Inventory                          Sales Closed                Avg. Days on Market

 4.46%  /  5.09%               16,359  /  15,967                   2226  /  2292                      88  /  96

            Figures in bold represent Orange & Seminole Counties as of Oct 2010
                     

October's Market Moment

Orlando home sales in September 2010 were down 2.88 percent over September 2009.

Of the 2,226 sales in September, 637 “normal” sales accounted for 28.62 percent of all sales, while 1,046 bank-owned and 543 short sales made up 71.38 percent.

Pending sales are down .88 percent, with 8,713 pending homes awaiting closing in September of this year compared to 8,790 in September of last year.

Condo sales in the Orlando area increased by 15.85 percent in September when compared to September of last year. Duplex, town home, and villa sales decreased 2.25 percent.

The median price of all existing homes combined sold in September 2010 decreased 16.00 percent to $105,000 from the $125,000 recorded in September 2009. September 2010’s median price is an increase of 5.11 percent compared to August 2010’s median of $99,900.

September’s $105,000 median price encompasses all types of sales situations and home types. The median price for “normal” sales is $157,000 (down 5.36 percent from last month’s $165,900). The median price for bank-owned sales is $72,388 (up 3.41 percent from last month’s $70,000), and the median price for short sales is $110,000 (up 10.00 percent from last month’s $100,000).

The Orlando affordability index decreased to 262.01 percent in September. First-time homebuyer affordability in September decreased to 186.32 percent.

Homes of all types spent an average of 88 days on the market before coming under contract in September 2010, and the average home sold for 95.14 percent of its listing price.

There are currently 16,359 homes available for purchase through the MLS. The September 2010 inventory level is 2.46 percent higher than it was in September 2009 (15,967). The current pace of sales translates into 7.35 months of supply; September 2009 recorded 6.97 months of supply.

September's Market Update (scroll down to see last month's update)

Avg. Mortgage Rate                   Inventory                          Sales Closed             Avg. Days on Market

 4.61%  /  5.26%            16,535  /  16,361               2429  /  2190                   84  /  94

            Figures in bold represent Orange & Seminole Counties as of Sept 2010
                        Figures underlined represent numbers for Sept 2009.

September's Market Moment

Orlando home sales in August 2010 were up 10.91 percent over August 2009.

Of the 2,429 sales in August, 691 “normal” sales accounted for 28.45 percent of all sales, while 1,187 bank-owned and 551 short sales made up 71.55 percent.

Pending sales are up 8.60 percent, with 8,945 pending homes in August of this year compared to 8,237 in August of last year.

Condo sales in the Orlando area increased by 43.28 percent in August when compared to August of last year. Duplex, town home, and villa sales increased 1.96 percent.

The median price of all existing homes combined sold in August 2010 decreased 21.95 percent to $99,900 from the $128,000 recorded in August 2009. August 2010’s median price is a decrease of 8.10 percent compared to July 2010’s median of $108,700.

August’s $99,900 median price encompasses all types of sales situations and home types. The median price for “normal” sales is $165,900 (down 5.20 percent from last month’s $175,000). The median price for bank-owned sales is $70,000 (down 2.78 percent from last month’s $72,000), and the median price for short sales is $100,000 (down from last month’s $116,000).

The Orlando affordability index increased to 270.30 percent in August.  First-time homebuyer affordability in August increased to 192.21 percent.

Homes of all types spent an average of 84 days on the market before coming under contract in August 2010, and the average home sold for 95.04 percent of its listing price.

There are currently 16,535 homes available for purchase through the MLS. The August 2010 inventory level is 1.06 percent higher than it was in August 2009 (16,361). The current pace of sales translates into 6.81 months of supply; August 2009 recorded 7.47 months of supply.

August's Market Update (scroll down to see last month's update)

Avg. Mortgage Rate                   Inventory                            Sales Closed                    Avg. Days on Market

 4.84%  /  5.48%            16,304  /  17,831               2834  /  2220                   85  /  103 

            Figures in bold represent Orange & Seminole Counties as of Aug 2010
                        Figures NOT in bold represent numbers for Aug 2009.

August's Market Moment

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.

 


July's Market Update (scroll down to see last month's update)

Avg. Mortgage Rate               Inventory                  Sales Closed                Avg. Days on Market

4.84%  /  5.48%            16,304  /  17,831               2834  /  2220                       85  /  103 

            Figures in bold represent Orange & Seminole Counties as of July 2010
                        Figures NOT in bold represent numbers for July 2009.

July's Market Moment

In June, 2,834 homes were sold, which is a 27.66 percent increase over the June 2009 mark of 2,220.

Homes of all types spent an average of 85 days on the market before coming under contract in June 2010.

The number of new contracts filed in June 2010 (3,736) represents an increase of 1.36 percent more than were filed in June 2009 (3,686).

Pending homes sales were up 33.13 percent, with 9,625 homes under contract in June of this year compared to 7,230 in June of last year.

The median price of all existing homes combined sold in June 2010 increased 0.87 percent to $116,000 from the $115,000 recorded in May 2010. June 2010’s median price is a decrease of 11.57 percent compared to June 2009’s median of $131,175.

The median price for “normal” sales is $175,000 (up 9.38 percent from last month’s $160,000). The median price for bank-owned sales is $77,500 (down 4.32 percent from last month’s $81,000). The median price for short sales is $115,526 (up 4.78 percent from last month’s $110,000).

Of the 2,834 sales in June, 911 “normal” sales accounted for 32.15 percent of all sales, while 1,211 bank-owned and 712 short sales made up 67.85 percent.

There are currently 16,304 homes available for purchase through the MLS. Inventory increased by 341 homes from May 2010, which means that 341 more homes entered the market than left the market. The June 2010 inventory level is 8.56 percent lower than it was in June 2009 (17,831).

The current pace of sales translates into 5.75 months of supply; June 2009 recorded 8.03 months of supply.

May's Market Update (scroll down to see last month's update)

Avg. Mortgage Rate               Inventory                  Sales Closed                Avg. Days on Market

4.89%  /  4.90%            15,963  /  19,123            2605  /  1882                       85  /  103 

            Figures in bold represent Orange & Seminole Counties as of May 2010
                        Figures NOT in bold represent numbers for May 2009.