Orlando Market Conditions

Lake, Orange, Osceola and Seminole Counties

The median sales price of all homes sold in the Orlando area held steady at $105,000 during November, the third month in a row. According to Orlando Regional Realtor Association, the current median price remains 5.11 percent higher than the $99,900 median price recorded in August 2010 and is 14.63 percent below the median price of $123,000 recorded in November 2009.

The median price for existing homes that are neither a short sale or foreclosure sold in November is $159,900. The median price for bank-owned sales is $78,101 and the median price for short sales is $99,950. The lower median prices of bank-owned and short sales, which accounted for 66.67 percent of all sales in November, exert a downward influence on the overall median price.

Homes of all types spent an average of 97 days on the market before coming under contract in November 2010, and the average home sold for 94.08 percent of its listing price.

There are currently 15,192 homes available for purchase through the Multiple Listing Service. The current pace of sales translates into 8.22 months of supply.

There are 12,083 single-family homes currently listed in the Multiple Listing Service. Condos currently make up 1,871 homes offered in the Multiple Listing Service, while duplexes/town homes/villas make up the remaining 1,238.


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