Summer is over and schools are back in session. This is the typical time when home sales start to slow however Orlando is still posting incredible numbers. The Orlando Regional REALTOR® Association (ORRA) reported that the median home price for all home sales increased 8.94% in September compared to September 2014. The median home price in September was $184,000 up from $167,063 during the same time in 2014. There was also good news on for homeowners in foreclosure sales. The median price for bank-owned homes increased by 4.35% helping to lift neighborhood values that were especially hard hit by foreclosures during the recession.
Available Homes for Sale Inventory Remains Low
According to MyFlorida MLS, there are currently 11,533 homes available for sale in the area. This represents a 6.36% drop in available homes for sale from September 2014 and a 1.10% decrease from August 2015. Inventory of foreclosures and short sales are down in a major way, 38.60% and 48.61% respectively while “normal” sales are up 6.78%. These numbers clearly put the seller in the drivers seat and will allow the Orlando area to continue to see steady growth in home values in the coming months. The Metro-Orlando area currently has 4.04-months of supply.
County-by-County Sales Update:
• Lake: 11.71 percent above September 2014;
• Orange: 2.16 percent above September 2014;
• Osceola: 4.59 percent below September 2014; and
• Seminole: 4.17 percent above September 2014.
How Much is Your Home Worth?
With home prices continually growing, you may be wondering what your home is worth? Chase Team Realty is please to offer a FREE and INSTANT home value estimate here on our website. Simply click here to get your free report.
Looking to Sell Your Home? Go with Experience.
When experience counts, you can count on Kevin Boudreaux and his team at Chase Team Realty. During the past 12-months, we have sold nearly 50-homes throughout the Central Florida area. When interviewing an agent, ask them how many homes they have sold during the past year and if the number is less than 50, give me a call. I will be happy to sit down with you and personally go over a home value report as well as our comprehensive marketing plan that will get your home sold for the best possible price and in the quickest possible time. Our average time on market for traditional residential sales is 11-days! So if you are interested in selling, give me a call and lets grab a cup of coffee and talk about how my team and I can help you!
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither 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.