The Orlando Florida real estate housing statistics for January 2015 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
Jan 2014 9927 3931 3089 1889 $149,500
Nov 2014 12,121 3128 2341 2290 $165,000
Dec 2014 11,557 2947 2101 2803 $169,000
Jan 2015 11,631 4066 2960 2074 $155,000
As is typical of January, listings spike upwards. New year, lots of new sellers with pent up supply from the holidays. New contracts are up as well as buyers stop shopping for Christmas presents are start looking for homes. Inventory remains basically flat from 2014 which is a good sign that it has stablized since the big run up we had over most of last year.
The big gap between new listings and new pendings remain high at 1106 difference (4066-2960) between the two. This gap is always a number to keep an eye on because it shows the supply vs demand.
January closed sales were down. This is a seasonal thing because people just are not out shopping much for houses in November and December so the closings do not occur much in January. But we are still slightly higher than January 2014 which shows that the market is still strong. We now have a 5.6 month supply of homes available for sale. (11,631 inventory / 2,074 sales = 5.6 months' supply). We are in a softer seller's market which will hopefully continue into 2015. That number will most likely decrease as we get into Springtime and the buyers come out in droves.
Interest rates have have gone down yet again. It is an amazing time to lock in rates at these low numbers. Although the Fed did announce that they will end quantitative easing in 2015, the cost of a barrel of oil has caused downward pressure on inflation which has helped to keep rates low.
Prices have hovering around the 160s-170s mark for a while now. The median price in Orange & Seminole County dipped slightly in January to $155,000 which is still $5,500 higher than it was 12 months ago.
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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