The following are the market sales statistics for Orange County, Florida for May 2010. The major city in Orange County is Orlando. For purposes of this analysis we are 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.
Single-Family Homes
1145 homes sold during the month of May.
The average sales price is $204,110 with 140 days on the market.
The median sales price is $155,000.
The sales to list price ratio is 97%
The most expensive home sold for $3.96M in Windsong Preserve Point in Winter Park and was on the market 401 days.
The least expensive home sold for $11,000 in Richmond Estates in Orlando after 15 days on the market.
The average sales price for the same period a year earlier was $193,5656 with 145 days on the market with a sales to list price ratio of 95% on 850 sales, a 35% increase.
The month to month changes show an increase in the average sales price of 11% and an increase in the median sales price of 6%. There was an increase in sales volume of 9% with a 1% decrease in the sales to list price.
Condos, Townhomes & Villas
629 homes sold.
The average sales price was $76,078 with 118 days on the market.
The median sales price was $55,000.
The sales to list price ratio is 126%
The most expensive condo sold for $1.075M in Lake Nona in Orlando and was new construction built in ‘08.
The least expensive sold for $8,000 in Magnolia Court Condo in Orlando and was on the market for 40 days.
The average sales price for the same period a year earlier was $82,970 with 120 days on the market with a sales to list price ratio of 96% on 460 sales, an increase of 37%.
The month to month changes show an increase in the average sales price of 4% with no change in the median sales price. There was an increase in sales volume of 3% with a 25% increase in the sales to list price ratio.
For information on Orange and Seminole County real estate and Orange and Seminole County homes for sale in addition to Orange and Seminole County relocation contact Marc Grossman, your Orange 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.
To learn more about Marc and the services he has to offer, visit his website.
You can read Marc’s other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker
Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034
Marc donates 10% of his net proceeds to Hospice of the Comforter.
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