Orlando Florida real estate statistics for July 2010

Real Estate Agent with Sand Dollar Realty Group, Inc. BK627826

Orlando real estate market statistics for the month ending July 2010 have been released by the Orlando Regional Realtor Association.  Here is a direct link to the detailed report . Below is a breakdown of these numbers. This covers Orange County & Seminole County, including the cities of Orlando, Winter Park, Maitland, Apopka, Ocoee, Altamonte Springs, Longwood, Lake Mary, Sanford, Casselberry, and Oviedo Florida.

                 Inventory    New Listings    New Pendings   Under Contract     Closed    Days on Market

July 2009      17,831        4158                 3696                 7713                 2299          101

Apr 2010       15,766        5116                 5221                10,832               2644           81

May 2010      15,963        4304                 3669                10,351               2783           83

June 2010     16,304        4470                 3736                 9625                 3059           85

July 2010      16,563        4388                 3793                 9133                 2387           85

As you can see from these latest numbers, there has been a slight dip in the market since the tax credit expired at the end of April.  Inventory numbers have been slowly creeping up for 3 months in a row now.  New listings and sale pendings have remained steady though.  This is a good sign that the market is still stabalizing. 

The under contract numbers has been steadily decreasing.  A big chunk of this number represents many of the short sales that seem to take forever to finally get approved.  The fact that they are slowly getting smaller each month is a good thing.

The number of closed deals is significantly down from June. However there was a huge spike during April, May, and June for closed deals which was for the most part caused by people trying to buy a home before the tax credit expired.  If you remove March to June 2010 and December 2009 from the equation, the July 2010 sold number of 2387 is the highest number of solds we have seen since the year 2006.  So numbers are still reasonably strong even without the tax credit.

Prices did go down a little in July as well.  The average sales price in Orlando was $150,000 and the median price was $109,900.  Although a little discouraging, these numbers are still higher than they were in February 2010.

Only time will tell where the market is headed. The big test will be once we get through the slower holidays/winter season from November 2010 to February 2011.  Then we will really have a good grasp on where the market is truly at.

Just from personal experience, the market still seems busy.  Most of our retail priced properties that are priced right and in decent areas are selling within a few weeks at most.  Many of our junker wholesale deals are selling within days and often with multiple offers.

Here is additional analysis put out by the Orlando Realtors for you to review as well. Enjoy.

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