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Orlando Real Estate Market Statistics - July 2011

By
Real Estate Agent with La Rosa Realty

Orlando Real Estate Market Statistics - July 2011

 

The Orlando Regional Realtor Association reported the following statistics:

 

Median price of "normal" sales - $158,000

Median price of short sales - $99,000

Median price of foreclosures - $80,310

 

Inventory Levels:

 

2,418 sales transactions were closed in June 2011 and is 20.95 percent less than were closed in June 2010.

There is only a 4.37-month supply of homes (lowest since December 2005) in Orlando’s inventory.

This is significant for any Orlando home buyer because the absorption rate of existing inventory is now inline with a normal market.  The lower the monthly supply of homes the less choice an Orlando home buyer has. Orlando and surrounding area neighborhoods are experiencing stabilization with fewer distressed sales. Traditional or normal sales now account for nearly 40% of all transactions in Central FL.

 

My opinion:

If you are a seller that has been holding out on selling your home because of the distressed Orlando marketplace it might be time to pull the trigger. With the median price of normal sales over $50,000 higher than distressed sales it is apparent buyers realize the value in a normal sale with better property conditions. Another important factor to this is appraisers are able to locate stronger comparable sales that DO NOT include just distressed sales.

Stabilization in your neighborhood will translate in to a higher sales price. Also, buyers only having a 4.37 month supply of homes to choose from will "help" them make faster decisions on which home to purchase. If your home is in excellent condition than you should expect an offer within 30 days with accurate market value pricing, a strong online marketing strategy, & a Realtor who is readily available.

 

If you need assistance in selling your home please call (407) 619-6249 or email thomas@thomasstaples.com.

Posted by

Thomas Staples, Realtor

La Rosa Realty

(407) 476-4993 - Mobile
www.tstaples.larosarealty.com - home search

thomasstaplesblog.com - orlando, ocoee, winter garden blog site