Orlando FL real estate statistics - May 2014

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

The Orlando Florida real estate housing statistics for May 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

May 2013            7272                    3841                      3519                       2984                $145,100

March 2014      10,343                   4406                      3659                       2435                 $160,000

April 2014         10,647                   4401                      3604                       2698                 $162,500

May 2014          10,908                   4693                      3275                       2651                 $165,000

The inventory numbers continue to creep upwards.  We have 50% higher inventory than we did 12 months ago. Low end houses priced under $100,000 are still selling with multiple offers.  But mid to higher ranged houses in the $250,000-$1,000,000 have slowed down quite a bit - price drops come more often than not. 

There is some concern for sellers that there were some 4693 new listings in May. This was the highest number of new listings that we have had since April 2010 when we were in the throws of the foreclosure market. While at the same time new pendings went down to 3275.  This puts a 1408 gap in the number of new properties versus properties pending.  Inventory is growing. Fortunately the month's supply of homes is at 4.1 months which is still considered a seller's market. (10,908 inventory / 2651 sales = 4.1).

Interest rates have decreased several months in a row to 4.16% for a 30-year mortgage. It is an incredible time to lock in the low rates while you can.     

Prices were relatively flat during the second half of 2013 but have slowly increased since the first of they year.  The median price in Orange & Seminole County is $165,000.  This is the highest median price we have seen since 2008.  

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.

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Topic:
Real Estate Market Trends
Location:
Florida Seminole County Altamonte Springs
Groups:
Orlando Real Estate
Central Florida
Florida Real Estate Market Reports
Seminole County Florida
Florida Real Estate Investors
Tags:
orlando housing market
orlando real estate statistics
seminole county real estate statistics
orange county florida real estate statistics

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Rainmaker
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Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

Looks like you may be low on inventory as well I wonder if folks are just not see the market moving or what

Jun 22, 2014 02:37 PM #1
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Rainmaker
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Rob Arnold

Metro Orlando Full Service - Investor Friendly & F
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