Orlando FL housing market statistics November 2012

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

The Orlando Florida November 2012 real estate statistics have been published by the Orlando Regional Realtor Association. Here is a direct link to the full MLS statistics details. These numbers include all of Orange and Seminole Counties including Orlando, Winter Park, Winter Garden, Apopka, Altamonte Springs, Lake Mary, Oviedo, and Longwood.

Month            Inventory          New Listings       New Pendings         Closed Sales    Median Price

Nov 2011         10,136              3045                    2887                    2027              $115,000

Aug 2012            8128              3459                    3393                    2702              $120,300

Sept 2012           8073              3086                    3104                    2296              $124,900

Oct 2012             8094              3332                    3253                    2582              $122,500

Nov 2012            7847              2890                    2936                    2430              $129,000

Inventory continued its gradual decline in November.  As the inventory number dropped below 8000 for the first time since October 2005, buyers continue to struggle to buy properties.  New pendings slightly outpaced new listings last month which has been the trend most of 2012 and a big reason for the declining inventory. 

Closed sales remain strong.  2430 houses sold in metro Orlando last month.  This puts us at a 3.2 month supply of homes currently available which is considered a seller's market. (7847 inventory / 2430 sales = 3.2 months) .

Interest rates are continue to remain low.  The average mortgage rate on a 30-year fixed loan in November was 3.47%.  It is a great time to lock in your interest rate either on a new purchase or a refinance.  Personally, I have refinanced several properties this year to take advantage of these amazingly low rates.

Median prices went up slightly in November.  The lack of inventory has created bidding wars which are in turn driving up prices.

You can read another detailed analysis from the Orlando Realtors at this link. If I can help you buy or sell, please contact me or one of our agents and we will take great care of you and your real estate needs.

Comments (2)

Linda Calhoun
Calhoun Real Estate - Red River, NM
Selling Red River since 1962!

Thanks for the update.  It is always interesting to see what is happening in other markets.

Dec 20, 2012 06:43 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Rob, nice to see increasing numbers!

Wanted to stop by today to wish you  and your family



Merry Christmas!


Dec 25, 2012 12:15 AM