Tuesday, October 13, 2009

Orlando Real Estate September Statistics

Orlando Regional Realtor Association compiles monthly statistics on the sale active for the Metro Orlando Area. Sales pace is up, and inventory slow dewindling. Here is more about September 2009.

  • Current Inventory: 15,967
  • New Listings: 4,030
  • Average Days on Market: 97
  • Average Mortgage Rate: 5.09%
  • Orlando home sales in September are up 54.30 percent over September 2008; year-to-dates sales are up 50.69.
  • Normal sales made up 44.44 percent of sales in September, while 55.56 percent were either bank-owned or distressed.
  • There are 8,790 pending sales, of which 3,858 contracts were filed in the month of September alone (the most in a single month this year). There were 1,908 new contracts filed in September 2008.
  • Condo sales increased by 242.64 percent. Duplex, town home, and villa sales increased by 89.91 percent.
  • The overall median price of all existing homes sold declined 2.34 percent to $125,000 in September, from the $128,000 recorded in August. The median price is a decrease of 31.32 percent compared to September 2008 ($181,995).
  • The median price for “normal” sales is $175,450. The median price for bank-owned sales is $79,000, and the median price for distressed sales is $126,000.
  • Affordability improved in September to 202.03 percent as a result in part of in the month’s decrease in median price. There are 8,805 homes in Orange and Seminole counties currently listed in the MLS that are considered affordable ($268,697 or less).
  • The inventory level decreased by 394 homes in September and is 35.33 percent below the level in September 2008. There is a 7.42-month supply.
  • Year-to-date, Lake County sales are up 30.07 percent above 2008; Orange County is up 72.96; Osceola County is up 109.37; and Seminole County is up 19.14 percent.

For historical months, please click here.