Central Florida real estate market statistics August 2014

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

The Orlando Florida real estate housing statistics for August 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

Aug  2013            8576                    3922                      3146                       2900                 $155,000

June 2014          11,518                   4267                      2701                       2834                 $168,500

July 2014           12,093                   4265                      2745                       2542                 $171,000

Aug  2014          13,084                   4002                      2711                       2449                 $165,000

Inventory has been skyrocketing the last few months.  We increased 991 new properties between July and August.  Hopefully this trend continues because now the inventory is at about the same level it was back in February 2011.  New listings continue to hover just above 4000 new properties each month while pending deals remain just over 2700.  That is quite a large gap each month between what comes in and what actually goes out.  Instead the number or expired and withdrawn properties continues to tick upwards. This is concerning also because as we enter the Autumn months, historically the market slows down and continues that way until after the holidays.  

Sales went down slightly in August.  We now have a 5.3 month supply of homes available (13,084 inventory / 2,449 sales = 5.34 months' supply).  We are in a softer seller's market.  When supply increases to over 6 months (which will probably occur in the next month or 2), we will transition into a balanced market where buyers have more equal negotiating power in the transaction. 

Interest rates have kept quite low.  We have a rate of just 4.16% for a 30-year mortgage. Definitely lock in this low rate while you can.  Refinance everything that you have not already or buy and lock it in for long-term.      

Prices have slowly increased during the first half of 2014 and have remained basically steady since June.  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 Orange County Orlando
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 market
orlando real estate statistics

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Rainmaker
824,587
Sheila Newton Team Anderson & Greenville SC
Berkshire Hathaway HomeServices - C. Dan Joyner - Anderson, SC
Selling the Upstate since 1989

Lots of great info for local content in your area! I wish our price range was as high as yours!

Sep 23, 2014 02:09 PM #1
Rainmaker
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Yolanda Cordova-Gilbert
Richmond, TX

Rob,

 Looks like your price ranges should be moving quickly even with high inventory levels! Good report on your area!

Sep 25, 2014 09:08 AM #2
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Rainmaker
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Rob Arnold

Metro Orlando Full Service - Investor Friendly & F
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