Orlando Real Estate

#OrlandoRealEstate market report for January 2018. Sales are up only modestly on plummeting inventory, but prices are way up compared to a year ago. Now is a great time to sell.
Posted by David W. Welch on February 15th, 2018 11:41 AM
More of the same last month here in Orlando. Sales are up, but only slightly as low inventory is keeping us from have much greater sales growth in my opinion. The low inventory coupled with strong demand has pushed prices up double digits compared with December 2016. As long as our inventory remains so low, look for this trend to continue. We have a sever shortage of homes available for sale priced below $300,000. Take a look at this brief video with the market report for December 2017.
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Posted by David W. Welch on January 16th, 2018 1:15 PM
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Posted by David W. Welch on December 15th, 2017 11:16 AM
Hurricane Irma definitely took a toll on our sales, and possibly inventory, but prices continue to remain strong. Check out this brief video from the Orlando Regional Realtor Association.

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Posted by David W. Welch on October 16th, 2017 1:30 PM

#OrlandoRealEstate

Orlando real estate market results for December 2016 and the year end wrap-up courtesy of the Orlando Regional Realtor Association.


Posted by David W. Welch on January 17th, 2017 11:19 AM
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Inventory of available homes in Orlando is pretty low right now with only about a 3.5 month supply based on last month's absorption rate. When I break that inventory down by price range, you can see just how low the inventory really is. Our median sales price in Orlando is around $200,000. That means half of all closed sales are at or below $200,000. The median list price is around $278,000, so there is a bit of a disparity between sales prices and list prices. This isn't to say that sellers are necessarily asking too much for their homes, I'm just pointing out that there is a lot more demand for more modestly priced homes.

Price Range Available Sold Month's Supply
< $100,000 876 380 2.3
$100,000-$200,000 2048 1027 2.0
$200,000-$300,000 2636 828 3.2
$300,000-$400,000 1634 308 5.3
$400,000-$500,000 838 128 6.5
>$500,000 1837 134 13.7
Total 9869 2805 3.5

As you can see from this breakdown, there is a pretty short supply of homes priced under $300,000. These numbers include active inventory and last month's sales of all types of homes by Orlando Realtors®. Notice homes priced from $100,000 - $200,000 are in the most popular price range for buyers leaving us with just a two month supply of homes available for sale. Typically, we have considered a six month supply to be a 'balanced' market. Home priced under $300,000 are all in pretty short supply, while homes priced from $300,000 to $500,000 are considered to be in a balanced market. Only homes priced over $500,000 are plentiful with more than a one year supply available for sale.
Orlando Real Estate

Posted by David W. Welch on November 18th, 2016 1:35 PM
Please take a look at this brief video with a breakdown of the #OrlandoRealEstate market for October 2016.  REO and short sales have become such a small percentage of the market locally, I am no longer reporting on them separately in my blog. I am also happy to say our MLS is getting rid of the 'Active with Contract' status. In my personal opinion it was uneccesary and confusing for consumers.
Posted by David W. Welch on November 15th, 2016 11:30 AM

Take a moment to watch this short video with the latest #OrlandoRealEstate market report courtesy of the Orlando Regional Realtor Association.


David Welch Real Estate Optimist, Orlando Real Estate

Posted by David W. Welch on October 17th, 2016 12:02 PM

 

David Welch Real Estate Optimist, Orlando Real Estate

Posted by David W. Welch on September 15th, 2016 12:09 PM
Please check out the latest #OrlandoRealEstate market summary for July 2016 provided by the Orlando Regional Realtor® Association.


Posted by David W. Welch on August 15th, 2016 1:26 PM

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