MONTHLY HOUSING MARKET UPDATES
These days, the Central Florida real estate market is ever-changing - on nearly a daily basis. Right now, short sales, foreclosures and bank owned properties dominate the marketplace. But are they really a good deal? Are prices going down or up? How much inventory is out there? What is the average price of a home here in Central Florida? What are the latest trends?
During the month, many various organizations send us information, opinions and editorials and statistical data specific to the Central Florida real estate marketplace.
Each month we compile, edit, and interpret the various pieces sent to us and condense them into a report which we hope you will find useful.
This issue includes a 2018 Sales and Price Recap at the end of this report. Inventory decreased to August 2018 levels from 8,432 units in November to 7,782 in December – a 6.6% decrease. Despite this decrease, this
Inventory rose again this this month by 2.2% over last month from 8,092 units to 8,272 this month. The number has not been at this level since sometime in November of 2017. However, this is still
There were 2,768 closings (actual sales) in September, a 8.5% increase from a year ago, but down a whopping 18.1% from last month. Single family home sales increased 7.6% and condo sales were up
The median (usually close to the average) price of all homes sales rose 2.7% from a year ago to
Of the sales in July, 96.4% were normal, arms-length transactions – indicative of a normal housing market as it relates to the quality of buyers. Sales of existing homes in the entire Orlando MSA were down 3.4% from a year ago. Year to date, sales are
There were 3,407 closings (actual sales) in May, down 11.4% from a year ago but
There were 3,347 closings (actual sales) in April, up 8.03% from a year ago and down 5.2% from last month. Single family home sales increased
At a 99.1% overall increase, the overall median price is now just shy of doubling since July 2011. The year over year median price for a single family home increased 6.4% as compared to last year to $249,900. Condos posted an increase of 19.4% over last year to
There were 2,495 closings (actual sales) in February, up .6% from a year ago and up 11.0% from last month. Single family home sales decreased 1.0% and condo sales were down 7.3% compared to a year ago. Of the sales in January, 94.4%
There were 2,225 closings (actual sales) in January, up .5% from a year ago but down 26.9% from December 2017. Single family home sales decreased .5% and condo sales were down 5.6% compared to a year ago. Of the sales in December, 93.6% (2,082) were normal,
The median (usually close to the average) price of all homes sales rose 10.3% from a year ago to $230,000, and a 2.2% increase from last month. Seventy-six of the past 77 months have seen year-over-year price increases in the Orlando MSA. However,
A year ago the unadjusted inventory was 10,025 and two years ago it was 11,441. For further comparison: In December of 2008, there were 22,524 on the market. In March 2013, which was where inventory bottomed out, there were only 6,937.
Single family home inventory is down 12.5% from a year ago, and the condo inventory is down by 28.2%.
Hurricane Irma had some impact upon the Orlando, Florida area real estate market in September. Sales were delayed due to power outages and the inability to bind insurance resulting in more than one thousand fewer closings in September vs. August. Inventory numbers were altered as
There were 3,544 closings (actual sales) in August. This is up 2.7% from a year ago and 4.8% higher than the previous month. Single family home sales increased 1.3% and condo sales were up 2.9% compared to a year ago. Of the sales in July, 94.2% (3,340) were normal, arms-length transactions. Short sales
There were 3,347 closings (actual sales) in July – another slight decrease of .2% from last month, and down 13.8% from a year ago. Single family home sales decreased .9% and condo sales were up 6.1% compared to a year ago. Of the sales in July, 94.0% (3,145) were normal, arms-length
There are now 9,141 homes on the market in the Orlando area – a gain of 4.1% from last month – but still
There were 3,817 closings (actual sales) in May – an increase of 23.5% from last month, and up 14.0% from a year ago. Single family home sales increased 13.2% a.....
Normal (aka arms-length) sale inventory is down 13.0% from last year and bank-owned inventory is now down by 44.2% from a year ago. This is the twenty-sixth month in a row the bank-owned inventory number has dropped. Short sale inventory declined again and is now down by 69.2% from a year ago.
It now appears that short sales and foreclosures are no longer influencing the overall Orlando housing market. Recent articles have pointed out that in most places in
What is notable in the above statistics is that all over the Orlando MSA there have been numerous housing starts and new communities developed. Despite the new inventory from numerous new home builders – which does not typically show up on the
Of the 2,715 closed sales in December, 1,860 or 68.51% were “normal”, 137 were short sales (5.05%) and 718 (26.45%) were bank-owned. The number of normal sales increased by 14.04% compared to a year ago while the number of short sales fell by 60.74%. However, bank-owned sales increased by 55.08