The Orlando Florida June 2013 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 are for Orange County and Seminole County in Florida and show properties sold via the MLS. They do not include for sale by owner, courthouse auction, builder sales, or other non-MLS sales.
Month Inventory New Listings New Pendings Closed Sales Median Price
June 2012 8136 3214 3289 2614 $125,000
Mar 2013 6937 3446 3455 2710 $140,000
Apr 2013 7202 3852 3435 2768 $143,700
May 2013 7272 3841 3519 2984 $145,100
June 2013 7616 3732 3191 2563 $153,000
Orlando inventory increased again in June. This is 3 months in a row that inventory has risen. Also 3 months in a row that new listings have outpaced new pendings - we have not seen that since January 2011. Is this sign of the bottoming out of the red hot market that we have been seeing the last few months? Hard to tell. Multiple offers are still the norm on properties priced under $150,000. At some point it had to settle down a little and that might be what we are now seeing. It reminds me a little of the year 2006 when the market started to stabilize except prices are about half what they were back then.
Sales remain strong and continue to bounce around in the 2500 mark give or take a few sales. But our month's supply of inventory is till very low at just 2.97 months (7616 inventory / 2563 sales = 2.97). The market is still incredibly busy by all accounts.
Homes under contract continues to reduce and is now at 8441. The majority of these are short sales which are slowly selling off. There are still a tremendous amount of these working their way through the system.
Interest rates have rebounded and actually spiked a bit last month. Conventional loans are in the mid 4s which is historically a fantastic number. I remember back in 2003 when I refinanced my home at 5.75% and was amazed I could get anything under 6 (a number we had not seen in decades). So don't complain too much about mid 4s.
Prices are up again in June. The median price in Orange & Seminole County is $153,000. This is 22% over what it was in June 2012 so not too shabby there either.
You can read another detailed analysis from the Orlando Realtors at this link. If I can help you buy or sell your property, please contact me or one of our agents and we will take great care of you and your real estate needs in Central Florida.