The Orlando Florida real estate housing statistics for March 2014 have been released 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 FSBO, courthouse auction, builder sales, or other non-MLS sales.
Month Inventory New Listings New Pendings Closed Sales Median Price
March 2013 6937 3446 3455 2710 $140,000
Jan 2014 9927 3931 3089 1889 $149,500
Feb 2014 10,184 3982 3232 1997 $158,000
March 2014 10,343 4406 3659 2342 $160,000
The inventory numbers continue the upward trend. March 2014 marks 12 months in a row of increases since our low point in March 2013. We now have 49% higher inventory than we did a year ago. The month's supply of homes, also known as the absorption rate, decreased some to 4.4 month's supply. (10,343 inventory / 2342 sales = 4.4). Spring is in the air and buyers are looking for that new house to buy. So sales have rebounded after the winter lull.
Interest rates remain relatively steady at 4.43% for a 30-year mortgage. They have been hovering in the mid-4s for about 6 months now but odds are they will be headed up as this rate is still historically very low.
Prices have plateaued since June 2013. The median price in Orange & Seminole County is $160,000. They have been hovering between $150,000 to $160,000 since June.
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.