Orlando Real Estate- On the market this week

Orlando Real Estate for Sale- Single-family existing homes

• Sales of Orlando single-family homes increased to 472 during the week of Mar 25, from 315 the week prior
• The median price of single family homes increased to $135,000, a change of 11.6%
• The number of single-family home foreclosure transactions increased to 113 last week, from 63 the week of Mar 18
• The number of single-family home short-sale transactions increased to 136 from 103 the week prior
• Single-family inventory decreased by 109, and now sits at 9,141

Orlando Condos, townhomes, and villas

• Orlando Sales of condos, townhomes, and villas increased to 172 during the week of Mar 25, from 87 the week prior
• The median price of condos, townhomes, and villas increased to $70,050, a change of 4.7%
• The number of condo, townhome, and villa foreclosure transactions increased to 57 last week, from 24 the week of Mar 18
• The number of condo, townhome and villa short-sale transactions increased to 46 from 26 the week prior
• Condo inventory decreased by 83, and now sits at 2,149

Orlando Real Estate- March Inventory

Inventory of Orlando Area Homes for Sale

*There are currently 9,253 Orlando homes available for purchase through the MLS. The February 2012 overall home inventory level is 31.36 percent lower than it was in February 2011, and almost equal to what it was in January 2012.

*Single-family home inventory is down 32.68 percent; condo inventory is down 18.46 percent.

*The current pace of Orlando real estate sales translates into 4.99 months of supply.

Orlando Real Estate Report - Week of February 19, 2012

Orlando Real Estate -Single-family existing homes sales for the third week in February

• Sales of single-family homes decreased to 239 during the week of Feb 19, from 315 the week prior
• The median price of single family homes decreased to $125,000, a change of -0.2%
• The number of single-family home foreclosure transactions decreased to 55 last week, from 60 the week of Feb 12
• The number of single-family home short-sale transactions decreased to 76 from 105 the week prior
• Single-family inventory decreased by 154, and now sits at 9,704

Orlando Real Estate - Condos, townhomes, and villas- Orange Seminole Lake

• Sales of condos, townhomes, and villas decreased to 71 during the week of Feb 19, from 107 the week prior
• The median price of condos, townhomes, and villas increased to $79,000, a change of 5.3%
• The number of condo, townhome, and villa foreclosure transactions decreased to 21 last week, from 30 the week of Feb 12
• The number of condo, townhome and villa short-sale transactions decreased to 21 from 32 the week prior
• Condo inventory increased by 12, and now sits at 2,386

Orlando Real Estate Weekly Report-median price goes up by 8.9%

Orlando Home and Condo Sales -Week of February 12, 2012

Single-family existing Orlando homes for Sale

• Sales of single-family homes in the greater Orlando area increased to 315 during the week of Feb 12, from 201 the week prior
  
• The median price of single family homes in Orlando increased to $125,200, a change of 8.9%
• The number of single-family home foreclosure transactions increased to 60 last week, from 49 the week of Feb 5
  
• The number of single-family home short-sale transactions increased to 105 from 63 the week prior
  
• Single-family inventory decreased by 80, and now sits at 9,858

Orlando Condos, townhomes, and villas- Orange, Seminole, Osceola, Lake

• Sales of  Orlando condos, townhomes, and villas increased to 107 during the week of Feb 12, from 77 the week prior
  
• The median price of Orlando area condos, townhomes, and villas increased to $75,000, a change of 10.1%
• The number of condo, townhome, and villa foreclosure transactions increased to 30 last week, from 23 the week of Feb 5
  
• The number of condo, townhome and villa short-sale transactions increased to 32 from 29 the week prior
  
• Condo inventory decreased by 30, and now sits at 2,374

Florida real estate Existing-home sales rise again in January, inventory down

Florida’s housing market reported gains in median sales prices and a reduced inventory of homes for sale in January, according to the latest housing data released by Florida Realtors.

In both the statewide single-family and condo-townhome markets, pending sales are higher and the statewide median sales price rose – up 5.3 percent to $129,000 for single-family homes and up 18.8 percent to $95,000 for condo-townhomes

The median is the midpoint; half the homes sold for more, half for less. Sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes, according to housing industry analysts.

See OrlandoReal Estate in the greater Orlando area including Winter Park real estate and  Lake Mary homes for sale.

Orlando Real Estate Sales for January 2012 -

A sharp decline in the sales of Orlando area foreclosure homes contributed to a drop of 17.83 percent in overall sales for January, despite increases in the number of both short sales and normal sales. Orlando area foreclosure sales in January dropped by 57.61 percent compared to January of 2011, while short sales increased 23.69 percent and normal sales increased 19.92 percent.

There was a significant drop in Orlando condo sales, which are down 48.11 percent from January of last year. Single-family homes, in comparison, are only  down 5.26 percent.

Members of the Orlando Regional REALTOR® Association participated in 1,677 Orlando area home sales in January 2012. More than 36 percent of those were normal sales; short sales made up 37.98 percent and foreclosure sales made up 25.76 percent. By comparison, in January 2011 normal sales accounted for 24.84 percent while short sales accounted for 25.23 percent and foreclosures accounted for 49.93 percent.

The increase in short sales and normal sales — with the higher prices these sales types typically command — plus a nice increase in the median price of foreclosure sales, lifted Orlando’s overall median price 13.80 percent over that in January 2011 ($108,000 in January 2012 and $94,900 in January 2011).

However, the January 2012 overall median price is 9.24 percent lower than it was in December 2011.  

The January 2012 median prices of both normal sales and short sales dropped in comparison to January 2011: normal sales by 2.10 percent (from $143,000 to $140,000) and short sales by 5.26 percent (from $95,000 to $90,000). The median price of foreclosure sales, however, increased by 13.33 percent in January 2012 (from $75,000 to $85,000).

The average interest rate paid by homebuyers in January was 4.01 percent. This rate average interest rate is just two-tenths of a percent higher than the rate in December 2011, which at 3.99 percent was the lowest since ORRA began tracking the statistic in January of 1995. A year ago, homebuyers paid an average interest rate of 4.84 percent.

Inventory

Current overall inventory (9,258) of homes for sale in Orlando is down 35.70 percent compared to January 2011, and down 4.87 percent compared to December 2011. Single-family home inventory is down 36.35 percent compared to January 2011, while current condo inventory is down 26.46 percent compared to January 2011.

At the current pace of sales, there is a 5.52-month supply of homes in Orlando’s inventory (down from a 7.05-month supply in January 2011 and up from a 4.40-month supply in December 2011).

Affordability

The drop in overall median price has led to an increase in Orlando’s affordability index: the January index of 273.32 percent is almost 23 percentage points higher than December 2011’s index of 250.44 percent. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent 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.)

Buyers who earn the reported median income of $54,188 can generally qualify to purchase one of 5,600 homes in Orange and Seminole counties currently listed in the local multiple listing service for $295,188 or less. First-time homebuyer affordability in January increased to 194.36 percent from last month’s 178.09 percent.

First-time buyers who earn the reported median income of $36,848 can qualify to purchase one of the 4,113 homes in Orange and Seminole counties currently listed in the local multiple listing service for $178,425 or less. Affordability index aside, credit issues and the ability to qualifying for a loan is still an issue for many.

Orlando area by county- Each individual county’s home monthly sales comparisons are as follows:

• Lake: 0.67 percent below January 2011 (297 homes sold in January 2012 compared to 299 in January 2011);
• Orange: 24.47 percent below January 2011 (1,062 homes sold in January 2012 compared to 1,406 in January 2011);
• Osceola: 28.12 percent below January 2011 (363 homes sold in January 2012 compared to 505 in January 2011); and
• Seminole: 5.93 percent below January 2011 (365 sold in January 2012 compared to 388 in January 2011).

Avalon Park -Orlando 32828 Home Sales for January 2012

Click to see Avalon Park on Google Map

Avalon Park is an east Orlando Neighborhood, popular with families for its good schools, community and ease access to convenient roads. The 408 makes the commute to downtown Orlando fast and easy. This is a list of Avalon Park homes and townhomes that recently sold last month. You can head of over to my Orlando real estatesite to see what homes are currently for sale now in Avalon Park and other Orlando Neighborhoods.

Original List Price- address - bed/bath - square footage- sold price- date sold

LISTING PRICE: $150,000 4218 CUMMINGS ST 3 2/0 1,746-sq/ft   SOLD for: $150,000 01/13/12

LISTING PRICE: $174,900 13425 PHOENIX DR 4 3/0 2,514-sq/ft   SOLD for:  $174,900 01/06/12

LISTING PRICE: $177,000 13613 PODOCARPUS LN 4 2/0 2,347-sq/ft   SOLD for:  $177,000 01/13/12

LISTING PRICE: $181,000 14630 TANJA KING BLVD 4 3/1 2,678-sq/ft   SOLD for:  $200,000 01/06/12

LISTING PRICE: $198,770 14661 MICHENER TRL 4 2/1 2,876-sq/ft   SOLD for:  $188,900 01/12/12

LISTING PRICE: $200,000 2924 ARA DR 4 2/1 2,476-sq/ft   SOLD for:  $188,000 01/03/12

LISTING PRICE: $205,000 2716 FANNING SPRINGS LN 3 2/0 2,265-sq/ft   SOLD for:  $205,000 01/09/12

LISTING PRICE: $205,000 14723 CAPOTE LN 4 3/0 2,779-sq/ft   SOLD for:  $206,000 01/20/12

LISTING PRICE: $210,000 14551 TANJA KING BLVD 4 3/0 2,834-sq/ft   SOLD for:   $207,500 01/27/12

LISTING PRICE: $230,000 14231 SOUTHERN RED MAPLE DR 6 3/0 2,875-sq/ft SOLD for:$215,000 01/25/12

LISTING PRICE: $309,000 14739 CATLIN RD 4 3/2 3,214-sq/ft   SOLD for:   $285,000 01/13/12

LISTING PRICE: $350,000 4614 ATWOOD DR 4 3/1 3,389-sq/ft   SOLD for:   $336,000 01/20/12