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.