AUGUST NUMBERS (Compared with August 2016)
- Median Price $225,000 +10%
- Sales 3,544 +3%
- Pending Sales 5,666 +14%
- New Listings 4,107 +0.4%L
- New Contracts 3,431 +34%
- Inventory 8,833 -16%
-6% when adjusted for elimination of “Active With Contract” status homes
- Interest Rate 3.92%
Compared to August 2016 Based on 30-year fixed rate mortgage
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EXISTING HOME SALES BY COUNTY
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in August were up by 2.5 percent when compared to August of 2016. Year to date, MSA sales are up by 5.0 percent.
Each individual county’s sales comparisons are as follows:
- Lake: 1.2 percent above August 2016
- Orange: 2.8 percent above August 2016
- Osceola: 8.1 percent above August 2016
- Seminole: 1.7 percent below August 2016
Karl Hittinger, Managing Broker of TransAct Brokers Real Estate in Maitland comments that “the lack of inventory continues to put pressure on home buyers while boosting the seller’s bottom line. It is a great time to list your home as demand is high and supply (inventory) still very low. However, buyers shouldn’t be too concerned, since there are still plenty of great deals still out there if you know where to look, especially in the less competitive Fall and Winter months. Additionally, since home values are expected to continue to increase at a moderate price, today’s prices will seem like a bargain in 6 months from now.”
Special Thanks to the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. This representation is based in whole or in part on data supplied by these organizations. Neither, TransAct Brokers, Inc., the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may 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. ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received. Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.