Friday, December 19, 2014

Median Price


*The median price of all existing homes combined sold in November 2014 — $165,000 — is a 6.45 percent increase from the $155,000 median price recorded in November 2013.

*The median price for “normal” existing homes sold in November is $190,000, an increase of 7.34 percent from the median price of “normal” existing homes in November 2013.

*The year-to-year median price for short sales increased by 3.25 percent in November, while the median price for bank-owned sales increased by 21.01 percent.

*The year-over-year median price for single-family homes increased by 5.22 percent, and the year-over-year median price for condos increased 4.14 percent.

Sales

*Orlando home sales (all home types and all sales types combined) in November 2014 were up 5.31 percent when compared to November of 2013 and down 22.23 compared to October 2014.

*Single-family sales increased 10.12 percent, while condo sales decreased by 9.52 percent year to year.

*Of the 2,243 sales in November, 1,481 normal sales accounted for 66.03 percent of all sales, while 623 bank-owned and 139 short sales respectively made up 27.78 percent and 6.20 percent.

*The number of normal sales in November increased by 5.41 percent compared to November 2013, while foreclosures increased 44.21 percent and short-sales decreased 52.56 percent.

*The 6,163 pendings in November of this year is a decrease of 5.48 percent compared to the 6,520 pendings in November of last year (and a 3.48 percent decrease compared to the 6.385 pendings last month).

*Short sales made up 30.94 percent of pendings in November, a decline of 43.91 percent from November of last year. Normal properties accounted for 41.20 percent (an increase of 17.55 percent) and bank-owned properties accounted for 27.86 percent (an increase of 78.85 percent).

*Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in November were up by 6.91 percent when compared to November of 2013. Throughout the MSA, 2,769 homes were sold in November 2014 compared with 2,590 in November 2013. To date, MSA sales are up 0.75 percent.

Each individual county’s monthly sales comparisons are as follows:

• Lake: 6.12 percent above November 2013;
• Orange: 6.44 percent above November 2013;
• Osceola: 7.97 percent above November 2013; and
• Seminole: 7.89 percent above November 2013

Inventory

*There are currently 12,121 homes available for purchase through the MLS. The November 2014 overall inventory level is 26.14 percent higher than it was in November 2013; inventory is down 3.09 percent compared to October 2014.

*The inventory of normal sales increased 34.63 percent compared to November 2013, while foreclosure inventory is up 33.05 percent and short sale inventory is down 18.84 percent.

*Year-to-year single-family home inventory is up 26.16 percent; condo inventory is up 25.07 percent.

*The current pace of sales translates into 5.40 months of inventory supply.

Other

*New contracts are down 9.19 percent compared to November of 2013. New listings are up 0.61 percent.

*The Orlando affordability index decreased to 185.34 percent in November. First-time homebuyer affordability in November decreased to 131.80 percent.

*Homes of all types spent an average of 77 days on the market (up from 72 days the month prior) before coming under contract in November 2014, and the average home sold for 95.85 percent of its listing price (down from 96.34 percent the month prior).

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