The Orlando FL, August 2013 real estate housing statistics have been released by the Orlando Regional Realtor Association. Here is a direct link to the full MLS statistics details. These numbers are for Orange County and Seminole County in Florida and show properties sold via the MLS. They do not include for sale by owner FSBO, courthouse auction, builder sales, or other non-MLS sales.
Month Inventory New Listings New Pendings Closed Sales Median Price
Aug 2012 8128 3409 3281 2702 $120,300
May 2013 7272 3841 3519 2984 $145,100
June 2013 7616 3732 3191 2659 $150,300
July 2013 8099 4015 3341 2958 $157,000
Aug 2013 8576 3922 3146 2825 $155,000
Orlando inventory increased again in August. This is 5 months in a row that inventory has risen. Also 5 months in a row that new listings have outpaced new pendings. We now have a similar inventory level as we did in April 2012. The market is still very busy but is definitely a little cooler than it was back in the Spring time. Many sellers who were unable to sell for years due to lack of equity are now putting their homes on the market and unloading their property.
Sales continue to stay strong. The number of homes selling each month has remained just under 3000 for many months now. The Central Florida market has a 3.04 month's supply of inventory (8576 in inventory / 2825 sales closed). The market is still very much a seller's market at this point.
Homes under contract continues to reduce and is now at 7519. Short sales are slowly working their way through the system. The market has started recovering and hopefully brighter days are now ahead for the real estate arena.
Interest rates continue to move upwards in August to 4.64% for a 30-year mortgage. This is still extremely low by historical standards but is quite a bit higher than rates were 6 months ago.
Prices are reasonably steady. The median price in Orange & Seminole County is $155,000. This is down slightly from July but up an amazing 28.8% increase since January.
You can read another detailed analysis from the Orlando Realtors at this link. If I can help you buy or sell your property, please contact me or one of our agents and we will take great care of you and your real estate needs in Central Florida.
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