orlando real estate: Orlando Real Estate Statistics March 2012 from Realtor.com
- 04/17/12 07:42 AM
March 2012 real estate search results are in and Orlando, FL was the #10 most searched market in the country in March 2012, based on data released today by Realtor.com, the #1 homes for sale real estate web site.
Median list prices for homes in Orlando, FL hit $155,000 in March 2012, a 3.33% increase from one year ago this month, and 0.32% increase from February 2012. The national median list price in March 2012 was $189,900, a 5.56% increase compared to March 2011.
Active for sale inventory of homes in Orlando, FL in March 2012 leveled out at … (2 comments)
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orlando real estate: Supply and Demand, But Wait There's More
- 04/16/12 05:54 AM
Supply and demand still work like they always have, but they are effected by factors that may not always seem apparent. The concept of elasticity of demand, looks at a buyers willingness to stretch to pay a higher price. Back in 2005 demand was extremely elastic, meaning that even though prices were climbing higher by the month, buyers were still willing to buy. Today, we see that elasticity may not be quite what it was back then. Prices are climbing here in Orlando, but not as steeply as you might expect given the decline in inventory. Last month's median price was $115,000 which … (2 comments)
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orlando real estate: When Was the Bottom of the Orlando Real Estate Market
- 04/11/12 01:23 AM
Please take note of the title. The key word is "was." There are a lot of experts out there still prediciting declines in the national real estate market this year. There is no national real estate market. Real estate is local, and each local market is interdependently connected to the other local markets. Each market is influenced most by its own local economic situation though. Here in Orlando there have been a number of economic influences positively effecting our market. Improving tourism, the new medical city and the coming commuter rail system are a few of the good things going on … (2 comments)
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orlando real estate: Orlando Real Estate Statistics March 2012
- 04/05/12 06:55 AM
The continuing storyline of 2012 is the declining inventory of homes available for sale. Compared to March of 2011 the number of homes currently available for sale has declined 37.2%. There are 7,875 homes listed as available by Orlando Realtors. Of those still active, 802 or 10.2% are REO, 2,078 or 26.4% are short sales and 4,995 or 63.4% are equity sales. While the active inventory has been dropping, the number of homes with contracts pending has been on the rise. There are 10,687 homes with contracts on them compared to 9,933 a year ago accounting for a 7.6% increase. Of the … (0 comments)
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orlando real estate: Fewer Homes for Sale in Orlando
- 04/02/12 01:32 AM
Recently, I was interviewed by Florida Trend magazine about the Orlando real estate market. They asked me what the big story for 2012 was going to be, and I told them the declining inventory. At the beginning of the year we had over 9,000 homes available for sale which was down from 16,000 at the beginning of 2011. The decline has continued with fewer than 7,900 homes available as of today (April 2nd). I report the inventory numbers nearly every day on http://www.RealEstateOptimist.com, and you can actually watch the number of homes available drop. The number of pending sales is over … (2 comments)
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orlando real estate: Like it or not, Short Sales Define our Market
- 03/14/12 01:34 AM
The overall impression of banks’ handling short sales has improved. I believe their communication has improved greatly, but their results really have not improved. Over the past three years, I have observed and tracked the closing ratio of short sale pendings. I calculate it monthly as the number of short sales closed as a percentage of the total number of pending short sales. This is a statistic I pretty much made up to monitor the success rate of short sales. This statistic has consistently fluctuated in the 8-10% range. It has been at the higher end of the range for the … (1 comments)
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orlando real estate: Orlando Real Estate Statistics February 2012
- 03/05/12 01:59 AM
If you follow my blog today's numbers, of course, will not be a big surprise. The story to keep an eye on is our inventory which continues to decline. Currently, there are only 8,415 homes available for sale. Of the homes available for sale 844 or 10.0% are foreclosures, 2,450 or 29.1% are short sales, and 5,121 or 60.9% are equity sales. Based on February's sales numbers we have just under 4.23 months supply of homes for sale. We typically consider six months supply to indicate a balanced market. Although new listings come on the market every day, they are going … (2 comments)
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orlando real estate: "Cash"ing in on Orlando Real Estate
- 02/29/12 03:00 AM
If I were a betting man, I would wager you will pay cash for your Orlando real estate purchase. Last year, there were 29,645 home sales in Orlando. Of that number, 15,812 or 53.3% were cash deals. That is a lot of greenbacks flowing into our local market. The next biggest source of purchase money was conventional financing which was used on 6,131 sales or about 20.7%. That was followed by FHA with 5,742 or 19.4% and VA with 786 or 2.7% of all sales. The remaining 1,174 or 4.0% were financed by other sources including: private lending, seller financing and … (0 comments)
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orlando real estate: Orlando Real Estate Statistics from Realtor.com, January 2012
- 02/17/12 06:39 AM
January 2012 real estate search results are in and Orlando, FL was the #9 most searched market in the country in January 2012, based on data released today by Realtor.com, the #1 homes for sale real estate web site.
Median list prices for homes in Orlando, FL hit $155,000 in January 2012, a 3.33% increase from one year ago this month, and 0.00% increase from December 2011. The national median list price in January 2012 was $185,500, a 3.69% increase compared to January 2011.
Active for sale inventory of homes in Orlando, FL in January 2012 leveled … (0 comments)
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orlando real estate: Orlando Real Estate Statistics, January 2011
- 02/07/12 07:15 AM
There are 8,811 homes of all types available for sale listed with Orlando Realtors. That is a 38.8% decline from last year's 14,398. Based on last month's sales pace that is only a 4.8 month supply of inventory. Of the homes still available, 798 or 9.0% are foreclosures, 2,809 or 31.9% are short sales and 5,204 or 59.1% are equity sales. While the inventory has declined, the number of contracts pending has been climbing. There are 9,675 homes with contracts. Of the homes under contract, 1,229 or 12.7% are foreclosures, 7,009 or 72.4% are short sales and 1,437 or 14.9% are … (3 comments)
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orlando real estate: Orlando Real Estate December 2011
- 01/05/12 05:38 AM
This was definitely a December to remember when it comes to Orlando real estate. The number of homes available for sale continued to decline in the last month of 2011. There are 9,101 homes currently on the market with Orlando Realtors. Of that number 863 or 9.5% are foreclosures, 3,081 or 33.9% are short sales and 5,157 or 56.7% are equity sales. The total number active is down nearly 400 over the last month. Another number that has started to drop is the number of pending sales. While the pending sale index is up nationally, ours I believe has peaked and … (0 comments)
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orlando real estate: 2011 The Year of the Cash Deal
- 01/03/12 08:41 AM
Actually, cash sales have dominated the Orlando real estate market for the last three years, and cash continued to be king in 2011. There were over 29,000 sales closed in Orlando in 2011 - Wow! Of those sales that closed last year 53.4% (over half, one in two, the majority) were cash deals. I ran the numbers and that means nearly $1.7 billion in transactions closed without financing. That is a lot of greenbacks flowing into the Orlando area.
I broke things down a little bit, because a lot of the cash transactions take place in the lower price ranges … (2 comments)
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orlando real estate: Downtown and Uptown Orlando Condo Turnaround
- 12/19/11 01:13 AM
One of the investors I work with asked me to double check the MLS, because she is not getting any new listings. She likes downtown and uptown Orlando condos, and has purchased several from me over the last few years. Three of the buildings where she has purchased are: Metropolitan at Lake Eola, Park North at Cheney Place and Uptown Place. All three of these complexes are in midrise buildings and offer similar amenities. The Metropolitan is right across the street from Lake Eola, so I think it has the best location hands down. The other thing all three share is … (3 comments)
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orlando real estate: Orlando Real Estate November 2011 Statistics from Realtor.com
- 12/15/11 07:24 AM
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orlando real estate: Orlando Real Estate Insurance Issues
- 11/16/11 04:24 AM
One of my customers had a lot of questions this week about insuring her real estate purchase here in Orlando. She has heard from other people that it can be difficult and expensive to insure property here in Florida, so I thought I would briefly address some of those concerns. Like any type of insurance, availability and cost is greatly effected by location. Orlando is well inland, and I do not believe we have nearly the issues with availability and cost that our neighbors on the coast have. Of course, since the hurricanes of 2004 it has become a bit more … (1 comments)
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orlando real estate: Orlando Real Estate Sales October 2011
- 11/04/11 07:46 AM
The number of homes available for sale listed by Orlando Realtors has slowly crept up this past month lead by bank owned properties. As of today there are 9,420 homes for sale up from last month's 9,316. The current inventory is made up of 824 or 8.7% REO's, 3,013 or 32.0% short sales and 5,583 or 59.3% equity sales. While available homes has crept up, homes under contract has fallen steadily. There are currently only 9,558 properties with contracts pending compared to 10,145 last month. Of the homes with contracts, 1,008 or 10.5% are REO, 7,148 or 74.8% are short sales … (3 comments)
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orlando real estate: Orlando Seller's Market
- 10/27/11 01:51 AM
Yes, I said it. Orlando is moving toward a seller's market. Our inventory levels are well below what we would consider a balanced market. There is only about a four month supply of inventory, and typically we have used six months as the point where supply and demand are in equilibrium. So why aren't prices increasing? Well, they are a little bit. If you are selling your home, don't call your agent and say raise the price though. At the beginning of the year our median price was at rock bottom around $90,000, and the median price for October looks to … (4 comments)
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orlando real estate: Orlando Real Estate Sales September 2011
- 10/06/11 09:05 AM
For the second month in a row I am a little late with the statistics. Thankfully, I have been too busy selling real estate. I listed two homes about two weeks ago, and both are under contract. In fact, I have on active listing left that I just put on the market last night. Enough with the bragging. Currently there are 9,316 homes listed for sale by Orlando Realtors®. They break down with 729 or 7.8% bank owned, 2,981 or 32.0% short sales and 5,606 or 60.2% equity sales. Overall inventory, and short sales are down from last month's 9,474 and … (2 comments)
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orlando real estate: Recent Numbers Could Signal Increased Rent in Orlando
- 09/29/11 07:02 AM
Guest blog post courtesy of Paige Taylor*
The Orlando real estate market has been one that’s oft been analyzed and evaluated over the past few years. Some of the recent numbers have been a little more hopeful than usual, especially when you consider the possibility of some increases in rent may attract possibly buyers looking to invest in a home to rent out.
The Orlando vacancy rates have apparently dropped to about 7 percent, as compared to 8 percent earlier in the year. The lower vacancy rate is good news for those potential buyers who want to rent out properties. Real estate … (1 comments)
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orlando real estate: Orlando Real Estate Sales August 2011
- 09/07/11 01:55 AM
I am running a couple of days late on my statistics this month. I have had out of town investors from Wisconsin and Canada this week, wrote three offers with two accepted so far. Despite what you may hear from other blogs, the number of properties available for sale in Orlando is continuing to decline making it more difficult to find properties. There are currently only 9,474 homes listed for sale by Orlando Realtors. With 2,437 sales last month that is less than a 3.9 month supply of homes available. A balanced market is six months. Of the homes available for … (2 comments)
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March 2012 real estate search results are in and Orlando, FL was the #10 most searched market in the country in March 2012, based on data released today by Realtor.com, the #1 homes for sale real estate web site.
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