The Orlando Florida real estate housing statistics for September 2014 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
Sept 2013 9127 3588 2767 2444 $156,000
July 2014 12,093 4265 2745 2542 $171,000
Aug 2014 13,084 4002 2711 2540 $163,900
Sept 2014 12,316 4017 2666 2711 $167,500
We had an interesting change in the marketplace last month. For the first time in 18 months, the inventory actually decrased slightly. It went down by 768 properties in September. This is an unusual change simply because inventory had been skyrocketing for the last several months and Autumn is typically the beginning of the slow season in Central Florida. However, the gap between new listings 4017 and new pendings 2666 is still quite alarming. Many more properties are coming in than going out.
Back on market properties remains on the high end at 1176 units while expired and withdrawn properties are also quite high compared to previous years. Properties are just not as easy to sell right now as they were a few months ago. Lenders continue to tighten up while investors have slowed down their previous buying frenzy.
September sales were up to the 2nd highest number in 2014. 2711 houses sold last month. The months' supply of homes decreased slightly from 5.3 months in August to 4.5 months in September. (12,316 inventory / 2,711 sales = 4.54 months' supply). We are in a softer seller's market which will hopefully remain steady as the holidays approach.
Interest rates have stayed low. The rate of just 4.20% for a 30-year mortgage is pretty amazing. Definitely lock in this low rate while you can. Refinance everything that you have not already or buy and lock it in for long-term.
Prices have slowly increased during the first half of 2014 and have remained basically steady since May. The median price in Orange & Seminole County is $167,500. This is the highest median price we have seen since 2008.
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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