Orlando real estate market statistics for the month ending August 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, Oviedo, and Winter Springs Florida.
Inventory New Listings New Pendings Under Contract Closed Days on Market
Aug 2009 16,361 4232 3324 8237 2190 94
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 2516 84
Aug 2010 16,535 4146 3892 8945 2429 84
Orlando inventory numbers decreased slightly during August but for the most part remained flat. New listings are down a little from July but this is typical for the end of the summer selling season. It is good to see the number of under contract properties continue to decrease for the 4th straight month. Short sales are actually getting closed as banks have started to wise up.
The number of sold properties while lower than the peak during March & April of this year are still quite high. The last time we had 2429 solds in a month (prior to March 2010) was way back in 2006. That's a good sign.
Prices did go down a little in August. The average sales price in Orlando was $140,900 and the median price was $99,900. It is pretty amazing that the median price of a house in Central Florida is now under 100K espcially considering the beautiful beaches, world class theme parks, and year-around great weather that we have. Most of these low prices can be attested to investors buying bank REOs as well as super cheap condos. According to the Realtor association, about 1 in every 4 sales in August was a condo. It is a great time to buy that vacation home / holiday home in Orlando.
Here is additional analysis put out by the Orlando Realtors for you to review as well. Enjoy.
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