- 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- Withdrawn: 1,339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.
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