Orlando’s New Sales Contracts Increase; Median Price Holding Steady
Year-end housing sales end in the black; month-to-month median
price increases 6 percent
Members of the Orlando Regional REALTOR® Association closed just 1.74
percent fewer homes in December of this year than last, keeping
year-to-date Orlando area sales in the black at 19.57 percent above
2009.
Sales under contract and awaiting closing at the end of December are
2.45 percent above December 2009.
Newly filed contracts —like pending sales an indicator of future sales
activity — in December 2010 reached a 7.1 percent increase over the
newly filed contracts in December 2009.
The median sales price of all homes sold in the Orlando area increased
in December from the median price that had held steady since September.
According to ORRA the current median price is 6.11 percent above the
median price recorded in August 2010 (the year’s lowest).
The lower median prices of bank-owned and short sales, which accounted
for 68.71 percent of all sales in December, exerts a downward influence
on the overall median price.
Homes of all types spent an average of 96 days on the market before
coming under contract in December 2010, and the average home sold for
94.40 percent of its listing price. In December 2009 those numbers were
89 and 93.95 percent, respectively.
Inventory decreased by 1.31 percent from November 2010. The December
2010 inventory level is 3.58 percent lower than it was in December 2009.
The current pace of sales translates into 6.33 months of supply;
December 2009 recorded 6.45 months of supply.
Posted: 18 January 2011
Source: Orlando Regional Realtors Association
Click here for original article
