Monday, September 14, 2009

August Orlando Real Estate Statistics

Orlando Regional Realtor Association has produced Orlando Real Estate statistics for August 2009.

  • Average Mortgage Rate: 5.26%
  • New Listings: 4,232
  • New Contracts: 3,324
  • Sales are up 45.45 percent over July 2008.
  • Normal sales made up 58.01 percent of July sales; distressed and bank-owned made up 41.99 percent.
  • There are 7,713 pending sales, more than double that in July 2008 (3,258).
  • There were more newly filed contracts in July (3,696) than in any other month this year. There were 1,947 newly filed contracts in July 2008.
  • The overall median price rose 2.92 percent to $135,000 last month, but is still 35.10 percent lower than last year.
  • The median price for normal sales is $165,000; the median price for bank-owned sales is $84,500; and the median price for distressed sales is $139,500.
  • Affordability declined in July to 181.48 as a result of the increase in median price. There are 11,198 homes in Orange and Seminole counties currently listed in MLXchange that are considered affordable ($245,005).
  • Inventory decreased by 600 homes from June to 16,361. There is 8.05 months of supply at the current sales pace (economists consider six to seven months of supply to reflect a balanced market).
  • Condo sales increased by 175.37 percent compared to July of last year, with the majority selling for $50,000 or less.
  • Under Contract: 8,237
  • Back on Market: 436
  • Expired Listings: 1,014
  • Withdrawn: 1,339
  • Average Days on Market: 93
  • Sales Closed: 2,112


For historical months, please click here.