The Orlando Florida March 2012 real estate statistics have been provided by the Orlando Regional Realtor Association. Here is a direct link to the full MLS statistics details. Below is a summary breakdown of their numbers. This covers Orange and Seminole County Florida, including cities like Orlando, Winter Park, Maitland, Windermere, Ocoee, Winter Garden, Altamonte Springs, Longwood, Lake Mary.
Inventory New Listings New Pendings Closed Sales Median Price
Mar 2011 12,533 4152 4526 2613 $102,000
Dec 2011 9732 2641 2800 2213 $119,000
Jan 2012 9258 3318 3375 1731 $108,000
Feb 2012 9253 3323 3475 1975 $111,000
Mar 2012 8666 3386 3805 2327 $115,000
The flat inventory levels of the Winter season saw big changes starting in March. Housing inventory plummeted by 587 units last month. While at the same time new listings remained steady and new pendings and closed sales continued to increase. Properties are selling quickly with ones priced under $100,000 being in bidding wars more often that not much of the time.
That puts us at an overall inventory of just 3.7 months supply of homes (8666 inventory/2327 sales = 3.7 months). For the homes priced under $100,000 there is only a 2.1 months supply. That's unbelievable and shows the low end truly is a seller's market.
Another amazing statistic is that 50.9% of buyers in Orange & Seminole County in March paid all cash. That's over half the 2327 sales. Pretty incredible.
Additionally 24.6% of the sales were bank owned REO foreclosures while 33.5% of the sales were short sales. That makes 41.9% of the sales that were regular old traditional sales. A good trend.
You can read a detailed analysis from the Orlando Sentinel here. If I can help you buy or sell, please contact me or one of our agents and we will get you on your path to buying or selling that home quickly.