Median price of Orlando property increases as "normal" home sales jump 28 percent
The median price of Orlando area existing-home sales has increased for
the second consecutive month, reports the Orlando Regional REALTOR®
Association,
and the number of normal sales in March was 28% higher than
in February.
• The March 2011 inventory level of homes for sale is 22.75% lower than
it was in March 2010
• The current pace of sales translates into 5.04 months of supply, the
lowest since December 2005
• The median price of all existing homes combined sold in March 2011
showed a 6.36% decrease from the median price recorded in March 2010.
• In March, ‘normal’ sales accounted for 28.15% of all sales.
Foreclosures (bank-owned and short sales) made up 70.50%.
• The number of homes under contract for purchase in March 2011 is up
3.11% on February.
• Condo sales in the Orlando area increased by 22.71% in March when
compared to March of last year.
• Homes of all types spent an average of 103 days on the market before
coming under contract in March 2011, and the average home sold for
95.40% of its listing price.
Source: Orlando Regional Realtors Association
Posted: 14 April 2011
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