Orlando homes 'normal' sales price for October up 10.20 percent on last month
The overall median sales price of a home in the Orlando area held steady for the
second month in a row, reports the Orlando Regional REALTOR® Association.
The median price
for “normal” sales is up 10.20 percent.
“The wide variation in median price fluctuation across sales type categories
is yet another demonstration how the sheer quantity of short sales and
foreclosures continues to pull down the overall median price for the Orlando
real estate market,” explains ORRA Chairman of the Board Mike McGraw.
• The median price of all existing homes combined sold in October 2010 is
exactly the same as September 2010’s median.
• October’s median price encompasses all types of sales situations and home
types. The median price for “normal” sales is up 10.20 percent from last
month. The median price for bank-owned sales is down 1.41 percent from last
month and the median price for short sales is down 20.70 percent from last
month.
• In October, “normal” sales accounted for 32.74 percent of all sales, while
bank-owned and short sales made up 67.26 percent.
• Orlando home sales in October 2010 were down 20.31 percent over October
2009. Pending sales are down 2.57 percent in October of this year compared
to October of last year.
• Condo sales in the Orlando area increased by 0.70 percent in October when
compared to October of last year.
• Homes of all types spent an average of 91 days on the market before coming
under contract in October 2010, and the average home sold for 94.61 percent
of its listing price.
• The October 2010 inventory level is 1.92 percent higher than it was in
October 2009.
Posted: 11 November 2010
Source: Orlando Regional Realtors Association
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