Released October, 2014 Median Price *The median price of all existing homes combined sold in September 2014 — $167,500 — is a 7.37 percent increase from the $156,000 median price recorded in September 2013. *The median price for “normal” existing homes sold in September is $192,000, an increase of 6.08 percent from the median price of “normal” existing homes in September 2013. *The year-to-year median price for short sales increased by 5.77 percent in September, while the median price for bank-owned sales increased by 14.09 percent. *The year-over-year median price for single-family homes increased by 7.35 percent, and the year-over-year median price for condos increased 9.38 percent. Sales *Orlando home sales (all home types and all sales types combined) in September 2014 were up 10.92 percent when compared to September of 2013 and up 6.73 percent compared to August 2014. Single-family sales increased 12.20 percent, while condo sales increased by 8.04 percent year to year. *Of the 2,711 sales in September, 1,848 normal sales accounted for 68.17 percent of all sales, while 671 bank-owned and 192 short sales respectively made up 24.75 percent and 7.08 percent. *The number of normal sales in September increased by 18.08 percent compared to September 2013, while foreclosures increased 52.50 percent and short-sales decreased 56.26 percent. *The 6,315 pendings in September of this year is a decrease of 12.58 percent compared to the 7,224 pendings in September of last year (and a 2.95 percent decrease compared to the 6,507 pendings last month). *Short sales made up 33.37 percent of pendings in September, a decline of 46.17 percent from September of last year. Normal properties accounted for 43.01 percent (an increase of 22.45 percent) and bank-owned properties accounted for 23.63 percent (an increase of 36.63 percent). *Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in September were up by 14.22 percent when compared to September of 2013. Throughout the MSA, 3,294 homes were sold in September 2014 compared with 2,884 in September 2013. To date, MSA sales are down 2.19 percent. *Each individual county’s monthly sales comparisons are as follows: • Lake: 15.28 percent above September 2013; • Orange: 11.96 percent above September 2013; • Osceola: 25.92 percent above September 2013; and • Seminole: 10.21 percent above September 2013. Inventory *There are currently 12,316 homes available for purchase through the MLS. The September 2014 overall inventory level is 34.94 percent higher than it was in September 2013; inventory is down 5.87 percent compared to August 2014. *The inventory of normal sales increased 39.04 percent compared to September 2013, while foreclosure inventory is up 66.61 percent and short sale inventory is down 10.92 percent. *Year-to-year single-family home inventory is up 35.48 percent; condo inventory is up 31.04 percent. *The current pace of sales translates into 4.54 months of inventory supply. Other *New contracts are down 29.23 percent compared to September of 2013. New listings are up 11.96 percent. *The Orlando affordability index decreased to 178.10 percent in September. First-time homebuyer affordability in September decreased to 126.65 percent. *Homes of all types spent an average of 70 days on the market (down from 69 days the month prior) before coming under contract in September 2014, and the average home sold for 96.48 percent of its listing price (down from 96.86 percent the month prior).
Posted on: Mon, 20 Oct 2014 13:50:03 +0000
Trending Topics
Recently Viewed Topics
© 2015