Orlando Florida housing statistics April 2011

By
Real Estate Agent with Sand Dollar Realty Group, Inc. BK627826
https://activerain.com/droplet/9XN

Real estate market stats for April 2011 have been released by the Orlando Regional Realtor Assn.  Here is a direct link to the full MLS statistic details. Below is a quick breakdown of the numbers. This covers Orange & Seminole County Florida, including the cities of Orlando, Apopka, Ocoee, Winter Park, Maitland, Altamonte Springs, Longwood, Sanford, Casselberry, Lake Mary, and Oviedo.

                 Inventory    New Listings    New Pendings   Under Contract     Closed    Days on Market

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

Jan 2011       14,398        3478                 3747                 8777                 2041           96

Feb 2011       13,480        3202                 3777                 9223                 2170           99

Mar 2011       12,533        4152                 4526                 9510                 2613          103

Apr 2011       11,480        3391                 4228                 9255                 2388          104



Inventory levels dropped by over 1000 listings between March and April which is a 9.1% decrease in the number of properties for sale. The marks 10 months in a row that the inventory levels have dropped.   This inventory level is the lowest level we have seen since late 2005.

In April, the MLS created a new status category, "Active with Contract" which is sort of a sale pending lite.  For the above analysis, I am lumping the Active with Contracts in with the New Contracts to show the "New Pendings" each month.  As you can see since January, the new pendings have outpaced the new listings every single month.  Buyer are out there making offers and buying up all the great deals in sight.  As you can see from the amount of homes under contract, there are still a ton of short sale deals waiting and waiting to finally close.  From my estimates over 68% of the properties currently showing under contract are short sale deals.  Enjoy the wait. 

Sales are a different story though.  Their are 11,480 homes for sale as of the end of April, and 2388 sold that month.  That makes just a 4.8 month supply of homes available.  A 4 to 6 month's supply is considered a normal market but under 4 month's is considered a seller's market.  Surprisingly the market is tipped closer towards sellers having the advantage over buyers.  You don't hear that in the news media.

Sale prices dipped down to the lowest they had been in years back in February but ever since then, they have been slowly rising.  The median home price in Orlando went up from $102,000 in March to $105,000 in April.  The average home price went from $135,500 to $147,800.  

Here are some additional analysis put out by the Orlando Realtor Association and the Orlando Sentinel for you to review as well.

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Central Florida
Florida Real Estate Market Reports
Seminole County Florida
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Rob Arnold

Metro Orlando Full Service - Investor Friendly & F
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