Orlando Housing Market Report | January 2018

Orlando median home price jumps 13 percent in January

Orlando’s median home price continued along its upward trajectory in January while sales held steady with a 0.5 percent increase compared to January of 2017, reports the Orlando Regional REALTOR® Association.

The overall median price of Orlando homes (all types combined) sold in January is $225,000, which is 12.6 percent above the January 2017 median price of $199,900 and 2.2 percent below the December 2017 median price of $230,000.

Year-over-year increases in median price have been recorded for the past 79 consecutive months; as of January 2018, the overall median price is 94.8 percent higher than it was back in July 2011.

The median price for single-family homes that changed hands in January increased 10.1 percent over January 2017 and is now $240,000. The median price for condos increased 15.1 percent to $115,000.

The Orlando housing affordability index for January rose to 140.10 percent, up from 138.58 last month. The first time homebuyers affordability index rose to 99.62 percent, up from 98.55 percent last month.

Sales

Members of ORRA participated in 2,225 sales of all home types combined in January, which is 0.5 percent more than the 2,213 sales in January 2017.

Sales declined by 26.9 percent when compared to last month. “The nearly 27 percent drop between December and January is a decline that historically follows a big push to close in December as buyers seek to take advantage of homeownership tax benefits,” explains ORRA President Lou Nimkoff, Brio Real Estate Services. “While low inventory conditions remain a significant challenge, REALTORS® anticipate an improvement in month-to-month sales. In fact, the January pending sales tally increased by more than 1,000 homes compared to December 2017, making it the greatest month-to-month increase since ORRA began tracking pendings in 2006.”

Sales of single-family homes (1,731) in January 2018 increased by 0.46 percent compared to January 2017, while condo sales (268) decreased 5.6 percent.

Sales of distressed homes (foreclosures and short sales) reached only 143 in January and is 41.6 percent less than the 245 distressed sales in January 2017. Distressed sales made up 6.4 percent of all Orlando-area transactions last month.

The average interest rate paid by Orlando homebuyers in January was 4.07, up from 3.97 percent the month prior.

The overall inventory of homes that were available for purchase in January (7,604) represents a decrease of 11.1 percent when compared to January 2017, and a 1.3 percent decrease compared to last month. There were 6.6 percent fewer single-family homes and 29.7 percent fewer condos.

Current inventory combined with the current pace of sales created a 3.42-month supply of homes in Orlando for January. There was a 3.86-month supply in January 2017 and a 2.47-month supply last month.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in January were down by 1.1 percent when compared to January of 2017.

javascript:void(0); Each individual county’s sales comparisons are as follows:

*Lake: 7.9 percent below January 2017;
*Orange: 1.5 percent below January 2017;
*Osceola: 4.8 percent above January 2017; and
*Seminole: 0.6 percent above January 2017.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Homes Sold In Zip Code 32708 [January 2018]

Homes Sold In Zip Code 32708

[45 Homes | January 2018]

Map

Actual List Of Homes Sold for January

Original Price To Sold Price

OriginalPricevsSoldPrice

Average Days On Market vs Median List Price

ADOMvsListPriceMedian

Sold Price To List Price Ratio

SoldPrice_ListPriceRatios

Historic Listings

HistoricCountofActiveListings

Get Your Home Value NOW!

 

 

Homes Sold Zip Code 32779 [January 2018]

Homes Sold Zip Code 32779

[34 Homes | January 2018]

 

map

Actual List Of Homes Sold

Zip Code 32779

For January

 

Original Price To Sold Price

OriginalPricevsSoldPrice

Average Days On Market vs Median List Price

ADOMvsListPriceMedian

Sold Price To List Price Ratio

SoldPrice_listPriceRatios

Historic Listings

HistoricCountofActveListings

Get Your Home Value NOW!

 

Homes Sold Zip Code 32707 [December 2017]

Homes Sold Zip Code 32707
[ 51 Homes | December 2017]

Actual List Of Homes Sold

Homes Sold Zip Code 32707

For December

Original Price To Sold Price

Average Days On Market vs Median List Price

Sold Price To List Price Ratio

Historic Listings

Get Your Home Value NOW!

Orlando Housing Market Report | May 2017

Orlando Housing Market Report | May 2017

Sales and median price increase as interest rate dips during Orlando’s homebuying season

Orlando home sales increased 14 percent in May compared to May of 2016 while the median price jumped 7 percent, reports the Orlando Regional REALTOR® Association. Inventory continued its year-over-year slide and dropped by 16.8 percent, but a small relief was found in the 1 percent increase in the number of homes available in May compared to April.

Orlando’s overall median home price (all home types combined) is $218,000, which is 7.4 percent above the May 2016 median price of $203,000. Year-over-year increases in median price have been recorded for the past 70 consecutive months; as of May 2017, the overall median is 88.7 percent higher than it was back in July 2011.

The median price for single-family homes that changed hands in May increased 6.2 percent over May 2016 and is now $235,000. The median price for condos increased 21.7 percent to $118,000.

The overall average home price for May 2017 is $258,322, an increase of 6.0 percent over the average home price in May 2016. The average home listed for $265,375 in May and sold for 97.3 percent of its listing price (97.1 percent in May 2016).

Sales

Members of ORRA participated in 3,817 sales of all home types combined in May, which is 14.0 percent more than the 3,347 sales in May 2016 and 23.5 percent more than the 3,092 sales in April 2017.

“Orlando homes are selling at the quickest clip since the red-hot market of 2005,” says ORRA President Bruce Elliott, Regal R.E. Professionals LLC. “Not only is the area’s 2.30 months of supply statistic at its lowest point since September 2005, nearly 30 percent of those homes sold in May came under contract after less than eight days on the market.”

Elliott attributes the rise in sales to steady declines in the interest rate and three consecutive month-to-month positive – albeit tiny – increases in the number of available homes resulting from more sellers recognizing favorable conditions and listing their properties. “In addition, the very significant increase in sales compared to last month can be explained by an unusual dip in closing transactions in April. “The decline last month appears to be an anomaly cause in part by the later tax return deadline,” explains Elliott.

Sales of single-family homes (3,012) in May 2017 increased by 13.2 percent compared to May 2016, while condo sales (422) increased 15.0 percent.

Sales of distressed homes (foreclosures and short sales) reached only 276 in May and is 31.0 percent less than in May 2016. Distressed sales made up 7.2 percent of all Orlando-area transactions last month.

The average interest rate paid by Orlando homebuyers in May was 4.09 percent, down from 4.11 percent the month prior.

The overall inventory of homes that were available for purchase in May (8,781) represents a decrease of 16.8 percent when compared to May 2016, and a 1.2 percent increase compared to last month. There were 16.2 percent fewer single family homes and 22.5 percent fewer condos.

Current inventory combined with the current pace of sales created a 2.30-month supply of homes in Orlando for May. There was a 3.15-month supply in May 2016 and a 2.81-month supply last month.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in May are up by 9.2 percent when compared to May of 2016. Year to date, MSA sales are up 5.8 percent.

Each individual county’s sales comparisons are as follows:

Lake: 6.5 percent above May 2016;
Orange: 7.3 percent above May 2016;
Osceola: 11.0 percent above May 2016; and
Seminole: 14.6 percent above May 2016.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.