Orlando Housing Market Report [ October 2017]

Orlando home sales bounce back one month after Hurricane Irma
Orlando Housing Market Report

Sales of Orlando homes posted positive increases in October, just one month after Hurricane Irma hit the pause button on housing transactions, reports the Orlando Regional REALTOR® Association. Sales increased by 7 percent in October when compared to October of last year, and increased by 14 percent when compared to last month.

In addition to increased sales, the median price of Orlando homes sold during the month of October continued its year-over-year upward trend. The overall median home price (all home types combined) is $218,000, which is 6.3 percent above the October 2016 median price of $205,000.

Year-over-year increases in median price have been recorded for the past 75 consecutive months; as of October 2017, the overall median price is 88.7 percent higher than it was back in July 2011.

The current median price is 3.1 percent lower than last month’s $225,000.

The median price for single-family homes that changed hands in October increased 7.3 percent over October 2016 and is now $238,530. The median price for condos increased 10.5 percent to $110,500.

The overall average home price for October 2017 is $259,567, an increase of 4.7 percent over the average home price in October 2016. The average home listed for $267,157 in October and sold for 97.16 percent of its listing price (96.92 percent in October 2016).

 

Sales [ Orlando Housing Market Report]

Members of ORRA participated in 2,898 sales of all home types combined in October, which is 7.3 percent more than the 2,701 sales in October 2016 and 13.6 percent more than the 2,552 sales in September 2017.

Sales of single-family homes (2,228) in October 2017 increased by 3.1 percent compared to October 2016, while condo sales (365) increased 23.7 percent.

Sales of distressed homes (foreclosures and short sales) reached only 156 in October and is 50.6 percent less than the 316 distressed sales in October 2016. Distressed sales made up 5.4 percent of all Orlando-area transactions last month.

The average interest rate paid by Orlando homebuyers in October was 4.03 percent, up from 3.84 percent the month prior.

The overall inventory of homes that were available for purchase in October (8,464) represents a decrease of 15.6 percent when compared to October 2016, and a 2.1 percent decrease compared to last month. There were 12.5 percent fewer single-family homes and 28.2 percent fewer condos.

Current inventory combined with the current pace of sales created a 2.9-month supply of homes in Orlando for October. There was a 3.7-month supply in October 2016 and a 3.4-month supply last month.

 

MSA Numbers [ Orlando Housing Market Report]

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in October were up by 5.4 percent when compared to October of 2016. Year to date, MSA sales are up by 2.7 percent.

Each individual county’s sales comparisons are as follows:

*Lake: 10.6 percent above October 2016;

*Orange: 4.6 percent above October 2016;

*Osceola: 12.9 percent above October 2016; and

*Seminole: 2.9 percent below October 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.

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Homes Sold in Zip Code 32824 [October 2017]

Homes Sold In Zip Code 32824
[ 55 Homes | October 2017]

Actual List Of Homes Sold For October

Original Price To Sold Price

Average Days On Market vs Median List Price

Sold Price To List Price Ratio

Historic Listings

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2765 Dowman Drive | 3 bedroom 2 bath Apopka FL Home For Sale

2765 Dowman Drive, Apopka, FL

2765 Dowman Drive, Apopka, FL

$ Click for current price
3 BEDROOMS | 2 (2 full ) BATHROOMS | 1912 SQUARE FEET

Enjoy a five acre equestrian property close to the new toll road. This 3 bedroom 2 bathroom home has a large kitchen, family room, dining room and living room. It is has a electronic privacy gate separating it from the paved road. There is a detached 2 car garage along with the attached 2 car garage. The entire approximately five acre site is fully fenced. There is a small 2 stall barn for the horses. The kitchen has new appliances. The screen porch has glass windows and could have air conditioning added to make it a beautiful Florida room. There are not too many properties placed on the market in this area so don’t wait to take a look at this home.

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Presented By:

Brenden Rendo

Realtor
NextHome Neighborhood Realty
407-710-8720
Licensed In: FL
License #: SL3263309

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2347 Carolton Road, Maitland, FL

2347 Carolton Road, Maitland, FL

Open House | Saturday July 22nd 1 to 3 pm

Presented By:

Brenden Rendo

Realtor
NextHome Neighborhood Realty
407-710-8720
Licensed In: FL
License #: SL3263309

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$ Click for current price
4 BEDROOMS | 2 (2 full ) BATHROOMS | 1923 SQUARE FEET

JUST LISTED…Walk through this beautiful 4 Bedroom/2 Bath home and the first thing you will notice is the updates over the past few years. Starting with ceramic tile and engineered wood throughout the entire home with new 5 ¼ inch baseboards, fully renovated bathrooms, resurfaced pool and patio deck, repainted both inside and out, new HVAC unit and remodeled kitchen with new appliances to start. This split plan has 3 bedrooms and a large family room with a fireplace on one side and a large master suite on the other. The enclosed porch is a great place to relax and entertain while enjoying the large pool. Don’t hesitate to see this home now.

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2938 Boating Blvd, Kissimmee, FL | Home For Sale

2938 Boating Blvd, Kissimmee, FL | 4 Bedroom 2 Bath Home For Sale

2938 Boating Blvd., Kissimmee, FL

$ Click for current price
4 BEDROOMS | 2 (2 full ) BATHROOMS | 2670 SQUARE FEET

Price reduction by $10,000!

Sellers are on their way to North Carolina. Welcome home to your spacious 4 bed, 2 bath home with 9′ volume ceilings and open plan with lots of light. The kitchen has plenty of room for 2 cooks with granite countertops and stainless steel appliances. Enjoy the quiet conservation area in the back with new oversized patio with pavers and screen enclosure. Quick access to the boat dock and desirable Lake Toho. The master bedroom is at the back of the house with oversized walk-in closet. Electric bills are not a worry with radiant barrier in the attic, hybrid hot water heater and blinds throughout the home. Shingle Creek community has a boat lift to Lake Toho for world class fishing along with trails, playground, tennis court, golf course, and clubhouse! Located close to shopping, schools, attractions and major roads. You won’t be disappointed with this fabulous family home! Click on the Virtual Tour link for a 360° VR Tour!

Presented By:

Brenden Rendo

Realtor
NextHome Neighborhood Realty
407-710-8720
Licensed In: FL
License #: SL3263309

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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.