A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time – in other words, it’s the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it’s specifically indicating which price range is more active.
The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.
The sales to list price ratio is just that, you’re dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.
There needs to be a disclaimer here. These stats are only as good as telling us what it being purchased and happening at a certain period in time. Also, it needs to be fully understood that not only is real estate local, but it is hyper-local. What this means is that the trends that we hear about are overall. Let’s put it this way, what’s happening in one neighborhood, may not be realized in the neighborhood next door.
Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time. More high-end homes might be sold in one month as opposed to another. By looking at a longer period, you will get a better overall picture. It is all relative and this has to be understood when utilizing these stats.
46 homes sold during the month of September.
The average sales price is $271,378 with 85 days on the market.
The median sales price is $241,500.
The sales to list price ratio is 97%.
The most expensive home sold for $580,000 in River Walk and was on the market 53 days
The least expensive home sold for $139,900 in Alafaya Woods with 53 days on the market.
The average sales price for the same period a year earlier was $310,762 with 172 days on the market and a sales to list price ratio of 94% on 42 sales, an increase of 9.5%.
The month to month changes show a decrease in the average sales price of 14.2% and a decrease in the median sales price of 16.7%. There was also a decrease in sales volume of 31.3% with a 2% increase in the sales to list price ratio.
Condos, Townhomes & Villas
3 homes sold
The average sales price was $164,383 with 35 days on the market.
The median sales price was $188,117.
The sales to list price ratio averages out to be 100%.
The most expensive condo sold for $225,032 in Clayton Crossing and was on the market 129 days.
The least expensive condo sold for $80,000 in Villas at Lakeside after 21 days on the market.
The average sales price a year earlier was $197,056 with a sales to list price ratio of 93% on 3 sales.
The month to month changes show an increase in the average sales price of 23.5% and an increase in the median sales price of 56.8%. There was a decrease in sales volume of 50% with a 6% increase in the sales to list price ratio.
For information on Oviedo and Seminole County real estate and Oviedo and Seminole County homes for sale in addition to Oviedo and Seminole County relocation contact Marc Grossman, your Oviedo and Seminole County Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.
Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034
Marc donates 10% of his net proceeds to Hospice of the Comforter.