The following are the market sales statistics for Orlando, Orange County, Florida for October 2008. Orlando is made up of a multitude of zip codes. For purposes of this analysis we are only splitting the data according to single-family homes vs, condominiums, townhomes and villas.
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.
409 homes sold during the month of October.
The average sales price is $219,605 with 147 days on the market.
The median sales price is $186,000.
The sales to list price ratio is 95%.
The most expensive home sold for $1.4M in Venezia and was new construction.
The least expensive home sold for $15,000 in Angebilt after 72 days on the market.
The average sales price for the same period a year earlier was $291,277 with 132 days on the market and a sales to list price ratio of 94% on 366 sales, an increase of 11.8%.
The month to month changes show a decrease in the average sales price of 33% and a decrease in the median sales price of 29.6%. Yet, there was an increase in sales volume of 6.7% with a 1% increase in the sales to list price ratio.
Condos, Townhomes & Villas
112 homes sold
The average sales price was $133,864 with 160 days on the market.
The median sales price was $108,950.
The sales to list price ratio is 91%.
The most expensive villa sold for $875,000 in Renaissance at Lake Ivanhoe and was on the market 204 days.
The least expensive sold for $25,000 in Avalon Condo after 211 days on the market.
The average sales price for the same period a year earlier was $259,262 with 122 days on the market and a sales to list price ratio of 95% on 112 sales.
The month to month changes show an increase in the average sales price of 201% and an increase in the median sales price of 1.9%. Yet, there was also an increase in sales volume of 80% with a 1% increase in the sales to list price ratio.
For information on Orlando real estate and Orlando homes for sale in addition to Orlando relocation contact Marc Grossman, your Orlando Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.
To learn more about Marc and the services he has to offer, visit his website.
Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034
Marc donates 10% of his net proceeds to Hospice of the Comforter.