1-407-575-5392
Menu

Orlando Median Price And Sales Both Rise In September

NEXT
PREV
  Follow me: Wendy Morris on Twitter Wendy Morris on Facebook Wendy Morris on LinkedIn
Fri, Nov 15, 2019 at 10:15AM

Orlando Median Price And Sales Both Rise In September

Orlando median price and sales both rise in September; inventory dips

Orlando’s housing market in September recorded year-over-year increases in both sales (7%) and median price (5%). The inventory of home available for purchase, however, saw a second consecutive decline after nine months of positive postings.

The unexpected boost in post-summertime sales can be attributed in part to encouragement from falling interest rates.The average interest rate paid by Orlando homebuyers have dropped each month this year since February, and the September average rate of 3.68% is down 21% from the September 2018 average rate of 4.66 percent.lower interest rates help homebuyers overcome rising prices by providing more purchasing power.

September Housing Market Indicators

Median Price

The overall median price of Orlando homes (all types combined) sold in September is $245,000, which is 5.2% above the September 2018 median price of $233,000 and down 2.0% compared to the August 2019 median price of $250,000.

The median price for single-family homes that changed hands in September increased 19.4% over September 2018 and is now $303,000. The median price for condos increased 34.3% to $167,886.

The Orlando housing affordability index for September is 137.63%, up from 134.06% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)

The first-time homebuyers affordability index increased to 97.87% from to 95.33% last month.

Sales and Inventory

Members of ORRA participated in 2,972 sales of all home types combined in September, which is a 7.1% more than the 2,776 sales in September 2018 and 12.5% less than the 3,397 sales in August 2019.

Sales of single-family homes (2,290) in September 2019 increased by 8.8% compared to September 2018, while condo sales (399) increased 2.1% year over year.

Sales of distressed homes (foreclosures and short sales) reached 112 in September and are 10.4% less than the 125 distressed sales in September 2018. Distressed sales made up 3.8% of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in September (7,784) represents a decrease of 3.8% when compared to September 2018, and a 1.7% increase compared to last month. There were 5.7% fewer single-family homes and 2.1% less condos, year over year.

Current inventory combined with the current pace of sales created a 2.6-month supply of homes in Orlando for September. There was a 2.9-month supply in September 2018 and a 2.3-month supply in August 2019.

The average interest rate paid by Orlando homebuyers in September was 3.68%, down from 3.72% the month prior.

Homes that closed in September took an average of 51 days to move from listing to pending and an average of 37 days between pending and closing, for an average total of 88 days from listing to closing (up from a total of 86 days the month prior).

Pending sales in September are up 2.2% compared to September of last year and are down 9.3% compared to last month.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in September were up by 6.8% when compared to September of 2018. To date, sales are down 3.1%.

Each individual county’s sales comparisons are as follows:

*Lake: 8.3% above September 2018;
*Orange: 9.2% above September 2018;
*Osceola: 8.5% above September 2018; and
*Seminole: 1.6% below September 2018.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.


Bookmark & Share



User Comments


Be the first to comment on this post below!


Popular tags on this blog

Al Capone | Bella Collina | Broker Associate Wendy Morris Realty | Celebrity Homes | Disney News | Drones | Foreclosure | For Sale Cannon EOS 7D Cameras Plus all the Lens | Hamilton Gardens Winter Garden Ryan Homes | How to Price your Home for Sale in Orlando Fl | Landlord | New From Our Broker Wendy Morris | ORLANDO HOUSING MARKET REPORT - AUGUST 2018 | Orlando Market Reports | Orlando Penthouses | Orlando Real Estate Market report 2019 | Queen of Versailles Jacqueline Siegel | David Siegel Windermere Lake Butler Sound | STAR WARS GALAXY?S EDGE | Summerport Windermere Fl | Waterfront Homes Clermont | Wendy Morris | Wendy Morris Realty | Wendy Morris Realty Marketing | Whitney Isles Windermere Home For Sale | Windermere Fl |


All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: | Stellar MLS (updated 12/9/19 8:58 PM)

Listing Search



Translate Tool

Featured Listings
Mount Dora Real Estate
$1,200,000
5 BED
4 BATH
This is a beautiful and unique property in desired Mt. Dora. Home sits on 2 lots and is almost 2 full acres on Lake Dora... Read More
Tavares Real Estate
$749,900
4 BED
3.5 BATH
Own a Piece of Tavares History with this updated Historical home. Only two owners since 1920. Most recent updates are... Read More
Kissimmee Real Estate
$414,900
5 BED
4.5 BATH
One or more photo(s) has been virtually staged. The life of luxury is easy in this newly painted, highly upgraded Medit... Read More
Winter Garden Real Estate
$739,900
5 BED
5 BATH
One or more photo(s) has been virtually staged. Luxury, Elegance, and Panoramic Lakefront Views await you in this Stun... Read More
Windermere Real Estate
$3,895,000
6 BED
7 BATH
FALL IN LOVE WITH LAKEFRONT LIVING! Be romanced by classic European architecture and historical charm that sweeps you ... Read More
Contact Wendy Morris

407-575-5392

Wendy Morris LLC
DBA Wendy Morris Realty
Licensed in the State of Florida
BK 3146762
14832 Speer Lake Drive
Winter Garden, FL 34787

Your privacy is our utmost concern. We will never sell your personal information. Privacy Policy
©2011 -2019 windermerehomes.net - all rights reserved. | Site Map