The following are the market sales statistics for Orlando, Orange County, Florida for June 2010. 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.
Single-Family Homes
908 homes sold during the month of June.
The average sales price is $170,284 with 143 days on the market.
The median sales price is $140,795.
The sales to list price ratio is 97%.
The most expensive home sold for $2.055M in Lake Nona and was new construction built in ‘09.
The least expensive home sold for $10,000 in Clear Lake Views after 73 days on the market.
The average sales price for the same period a year earlier was $159,684 with 62 days on the market and a sales to list price ratio of 95% on 680 sales, an increase of 34%.
The month to month changes show a decrease in the average sales price of 2% and a decrease in the median sales price of 3%. There was an increase in the sales volume of 11% with no change in the sales to list price ratio.
Condos, Townhomes & Villas
588 homes sold
The average sales price was $72,215 with 127 days on the market.
The median sales price was $55,400.
The sales to list price ratio is 102%.
The most expensive condo sold for $635,000 in Renaissance at Lake Ivanhoe and was on the market 342 days.
The least expensive sold for $5,000 in Magnolia Court Condo and was on the market for 124 days.
The average sales price for the same period a year earlier was $76,432 with 67 days on the market and a sales to list price ratio of 97% on 411 sales, an increase of 43%.
The month to month changes show a decrease in the average sales price of 2% and an increase in the median sales price of 7%. There was an increase in sales volume of 8% with a 29% decrease 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
You can read Marc’s other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker
Marc donates 10% of his net proceeds to Hospice of the Comforter.
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