Orlando homes sales increase August as affordability hits all-time high
• Orlando home sales in August 2010 were up 10.91 percent over August 2009.
• In August, “normal” sales accounted for 28.45 percent of all sales, while
bank-owned and short sales made up 71.55 percent.
• Pending sales are up 8.60 percent in August of this year compared to
August of last year.
• Condo sales in the Orlando area increased by 43.28 percent in August when
compared to August of last year.
• The median price of all existing homes combined sold in August 2010
decreased 21.95 percent from that recorded in August 2009. August 2010’s
median price is a decrease of 8.10 percent compared to July 2010’s median.
• August’s median price encompasses all types of sales situations and home
types. The median price for “normal” sales is down 5.20 percent from last
month. The median price for bank-owned sales is down 2.78 percent and the
median price for short sales is down 5.17 percent from last month.
• The Orlando affordability index increased to 270.30 percent in August.
• Homes of all types spent an average of 84 days on the market before coming
under contract in August 2010, and the average home sold for 95.04 percent
of its listing price.
• The August 2010 inventory level is 1.06 percent higher than it was in
August 2009. The current pace of sales translates into 6.81 months of
supply; August 2009 recorded 7.47 months of supply.
Posted: 10 September 2010
Source: Orlando Regional Realtors Association
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