Orlando Real Estate

Orlando Real Estate Statistics from Realtor.com February 2012
March 15th, 2012 7:09 AM

February 2012 real estate search results are in and Orlando, FL was the #9 most searched market in the country in February 2012, based on data released today by Realtor.com, the #1 homes for sale real estate web site.

Median list prices for homes in Orlando, FL hit $154,500 in February 2012, a 3.00% increase from one year ago this month, and -0.32% decrease from January 2012. The national median list price in February 2012 was $188,000, a 6.82% increase compared to February 2011.

Active for sale inventory of homes in Orlando, FL in February 2012 leveled out at 10,738, a -40.76% decrease compared to February 2011. National inventory counts for February 2012 were 1,778,237, a -22.02% decrease as compared to a year ago.

The median age of inventory in Orlando, FL in February was 75 days, a -7.41% decrease compared to January 2012. Nationally, the median age of inventory was 111 days, a -6.72% decrease compared to January.

For details on all 146 MSAs monitored by Realtor.com in February 2012, click here:

http://www.realtor.com/data-portal/Real-Estate-Statistics.aspx

Contact us if you’re interested in a custom report detailing real estate trend data by countyor zip code.

Each month, Realtor.com surveys up to 250 Metro Service Areas (MSA) throughout the nation and monitors real estate trends including consumer search behavior, median list prices on for sale homes, active inventory counts and median age of inventory. The information is released to local markets to help consumers and real estate professionals as they work together to successfully navigate their local market.

According to Realtor.com, the top 10 most searched real estate markets, identified as MSAs, in the United States in February 2012 include:

Chicago, IL 1st
Detroit, MI 2rd
Los Angeles-Long Beach, CA 3rd
Philadelphia, PA 4th
Tampa-St. Petersburg-Clearwater, FL 5th
Phoenix-Mesa, AZ 6th
Atlanta, GA 7th
Dallas, TX 8th
Orlando, FL 9th
Las Vegas, NV 10th

In addition, the top most searched real estate markets in Florida in February 2012, and the national searched rank included:

Tampa-St. Petersburg-Clearwater, FL #5
Orlando, FL #9
West Palm Beach-Boca Raton, FL #12
Fort Lauderdale, FL #17
Miami, FL #18
Fort Myers-Cape Coral, FL #31
Sarasota-Bradenton, FL #37
Jacksonville, FL #44
Melbourne-Titusville-Palm Bay, FL #48
Fort Pierce-Port St. Lucie, FL #50
Naples, FL #53
Daytona Beach, FL #54
Lakeland-Winter Haven, FL #63
Pensacola, FL #104
Tallahassee, FL #116
Ocala, FL #128
Punta Gorda, FL #130
Gainesville, FL #132

Realtor.com is the most searched real estate web site today, and displays more than four million for sale and for rent property listings fed directly to the site for free by more than 933 multiple listing services (MLS) across the nation. More than 75 percent of all listings on Realtor.com are updated every 15 minutes with important information including price changes, sold data and property status changes, with the remaining properties updated every one to 24 hours. All homes tracked in these monthly reports are single family homes, condominiums, co-ops and townhomes.

For more information or commentary on local market trends, please contact:

Julie.Reynolds@move.com
Jennifer.DuBois@move.com
Jill.Kipnis@move.com
Candice.Cerro@move.com
Move@accesspr.com


Posted in:General
Posted by David W. Welch on March 15th, 2012 7:09 AMPost a Comment

Subscribe to this blog

As of this afternoon there are 7,935 homes listed available for sale by Orlando Realtors, and 10,755 homes with contracts pending. Of the homes still available for sale 780 are foreclosures and 2,113 are short sales. Of the homes with contracts pending, 1,318 are foreclosures and 7,547 are short sales.

Orlando real estate sales statistics for March 2012 so far: there have been 2043 closed sales with a median sales price of $113,126. I think we are definitely on our way to 2,400 sales this month.


Posted in:General
Posted by David W. Welch on March 30th, 2012 3:29 PMLeave a Comment

Subscribe to this blog

This morning there are 7,947 homes listed available for sale by Orlando Realtors, and 10,835 homes listed as contract pending. Of the homes still available, 769 are foreclosures and 2,137 are short sales. Back at the beginning of the year there were 9,067 homes available, so total inventory has dropped by 12.3%. On January 2nd there were 866 foreclosures and 3,091 short sales, so the inventory of these distressed properties has declined 11.2% and 30.8% respectively. Traditional equity sales inventory has declined from 5,110 to 5,041, which is only a 1.3% drop.

Orlando real estate sales statistics so far in March 2012: 1,792 closed sales with a median sales price of $114,900.

 

David Welch Real Estate Optimist, Orlando Real EstateSearch for Homes


Posted in:General
Posted by David W. Welch on March 29th, 2012 8:36 AMLeave a Comment

Subscribe to this blog

There are 7947 homes listed available for sale by Orlando Realtors, and 10,826 homes listed as contract pending. Of the homes still available, 763 are foreclosures and 2,151 are short sales. Of the homes with contracts on them, 1,361 are foreclosures and 7,560 are short sales.

Orlando real estate sales so far in March 2012: 1,705 sales have closed with a median sales price of $115,000.

David Welch Real Estate Optimist, Orlando Real EstateSearch for Homes


Posted in:General
Posted by David W. Welch on March 28th, 2012 9:55 AMLeave a Comment

Subscribe to this blog

There are 7,975 homes listed as available for sale by Orlando Realtors, and 10,809 homes listed as contract pending. Of the homes still available, 768 are foreclosures and 2,161 are short sales. Of the homes with contracts pending, 1,354 are foreclosures and 7,562 are short sales.

I know there have been a few articles predicting further price declines, but not hear. We have had eight months in a row of year over year increases. So far this month there have been 1,614 closed sales with a median sales price of $114,900. If this number holds a few more days it will mark a 12.6% increase over March 2011's $102,000 median sales price. It is even higher than March 2010's $110,000 by almost 4.5%.

David Welch Real Estate Optimist, Orlando Real EstateAny Home-Any Phone


Posted in:General
Posted by David W. Welch on March 27th, 2012 11:24 AMLeave a Comment

Subscribe to this blog

The number of homes available for sale continues to decline. There are only 7,990 homes listed as available by Orlando Realtors, and 10,809 homes listed as pending. Of the homes still for sale, 760 are foreclosures and 2,162 are short sales. Of the homes with contracts pending, 1,354 are foreclosures and 7,567 are short sales.

Orlando real estate sales for March 2012 so far: 1,544 closed sales with a median price of $115,000.


Posted in:General
Posted by David W. Welch on March 26th, 2012 2:33 PMView Comments (1)

Subscribe to this blog

There are currently, 8,058 homes listed available for sale by Orlando Realtors and 10,713 listed as contract pending. Of the homes still available, 768 are foreclosures and 2,200 are short sales. Of the homes with contracts pending, 1,326 are foreclosures and 7,543 are short sales.

Early Orlando real estate sales statistics for March: 1,253 sales have closed with a median sales price of $115,000.

David Welch Real Estate Optimist, Orlando Real EstateSearch for Homes


Posted in:General
Posted by David W. Welch on March 22nd, 2012 7:40 AMLeave a Comment

Subscribe to this blog

The first day of Spring brings with it even fewer homes for sale in the City Beautiful. There are only 8,077 homes listed available by Orlando Realtors, and 10,644 listed as contract pending. Of the homes still available, 794 are foreclosures and 2,206 are short sales. Of the homes with contracts pending, 1,303 are foreclosures and 7,510 are short sales.

Early Orlando real estate sales statistics for March: 1,122 closed sales with a median sale price of $115,000.


Posted in:General
Posted by David W. Welch on March 20th, 2012 11:42 AMView Comments (1)

Subscribe to this blog

There are 8,153 homes currently listed available for sale by Orlando Realtors, and 10,592 homes with contracts on them. The inventory continues to drop while contracts are climbing. Of the homes still available, 805 are foreclosures and 2,230 are short sales. REO's have actually moved up a little bit. Of the homes with contracts, 1,293 are foreclosures and 7,494 are short sales.

Early Orlando real estate sales statistics for March: 999 sales have closed with a median sales price of $115,000. Both are improvements over last month.

David Welch Real Estate Optimist, Orlando Real EstateAny Home-Any Phone


Posted in:General
Posted by David W. Welch on March 19th, 2012 8:05 AMLeave a Comment

Subscribe to this blog

There are 8,167 homes currently available listed by Orlando Realtors, and 10,528 home listed as contract pending. Of the homes still available, 779 are foreclosures and 2,277 are short sales. Of the homes with contracts pending, 1,299 are foreclosures and 7,456 are short sales.

Too early Orlando real estate sales statistics for March: 790 closed sales with a median sales price of $115,000. Sales and prices are up this month.


Posted in:General
Posted by David W. Welch on March 15th, 2012 1:08 PMLeave a Comment

Subscribe to this blog

The overall impression of banks' handling short sales has improved. I believe their communication has improved greatly, but their results really have not improved. Over the past three years, I have observed and tracked the closing ratio of short sale pendings. I calculate it monthly as the number of short sales closed as a percentage of the total number of pending short sales. This is a statistic I pretty much made up to monitor the success rate of short sales. This statistic has consistently fluctuated in the 8-10% range. It has been at the higher end of the range for the last six months or so, and December posted better than a 12% ratio before falling back into the 9-10% range.

Despite the fact that on average a short sales still take four months from contract to close, people appear to be willing to wait. Why are they willing to wait? It is all about price and availability. Active REOs have a median list price of $85,750 but typically attract multiple offers, making them hard to get. Active equity sales currently have a median list price of $224,900. Keep in mind that there are more bank owned properties in less expensive neighborhoods, so these are not exactly apples to apples comparisons. Still, you cannot ignore such a disparity in the prices. Short sales on the market right now have a median list price of $114,900. So far this month, the median sales price in Orlando is $115,550. Short sales offer a better price alternative to equity sales, while having greater availabilty than REOs. That is why I say the short sale is really defining our market.

Compared to the number of homes available for sale at the end of last February, the number of REOs available has declined by 54.2%; the number of short sales has also dropped by 54.4%; the number of equity sales is only 23.9% lower.


Posted in:General
Posted by David W. Welch on March 14th, 2012 10:59 AMLeave a Comment

Subscribe to this blog

There 8,188 homes listed for sale with Orlando Realtors, and 10,471 homes with contracts pending. Of the homes still available, 768 are foreclosures and 2,314 are short sales. Of the homes with contracts pending, 1,291 are foreclosures and 7,426 are short sales.

Way too early Orlando real estate sales statistics: 578 sales have closed with a median sales price of $115,000.

David Welch Real Estate Optimist, Orlando Real EstateAny Home-Any Phone

 Subscribe in areader


Posted in:General
Posted by David W. Welch on March 13th, 2012 7:44 AMLeave a Comment

Subscribe to this blog

The number of homes available for sale listed by Orlando Realtors has dropped below another milestone. There are currently, 8,197 homes still for sale while 10,452 homes have contracts on them. Of the homes still available, 773 are foreclosures and only 2,321 are short sales. Of the homes with contracts, 1,291 are foreclosures and 7,420 are short sales.

Way too early Orlando real estate sales statistics for March 2012: 473 closed sales with a median price of $115,000.

David Welch Real Estate Optimist, Orlando Real EstateAny Home-Any Phone


Posted in:General
Posted by David W. Welch on March 12th, 2012 7:21 AMLeave a Comment

Subscribe to this blog
March 9th, 2012 11:26 AM

You are under water on your mortgage, or maybe having trouble making your mortgage payments. What do you do? It appears a lot of people are doing nothing. Things are getting better here in Orlando with respect to our local real estate market, but I believe there are still thousands of homes that are in trouble. Only a portion of the homes that have had foreclosure filings over the last few years have shown up in our marketplace. I imagine some people were able to catch their payments back up, some have been pursuing loan modifications, and others may have hired lawyers to help with a foreclosure defense to delay the inevitable. I have a much stronger suspicion that many people, maybe most, are just ignoring their situation and hoping for some miracle.

There are options to foreclosure, and while it may be embarassing or frustrating to jump through the bank's hoops, doing something has got to be better than doing nothing. I tell eveyone who asks me about loan modifications, short sales, deed in lieu or foreclosures to speak with an attorney. They are best able to help you understand each option and how it may effect you. In general terms though, I recommend a HARP refinance or loan modification if you wish to stay in your home. These options help you keep your credit intact while making your current home more affordable. If you just cannot afford to stay in your existing home, and have other living options available to you, a short sale may allow you to get out from under your upside down property. As a last resort, if you feel you just do not have other options available to you, a foreclosure defense lawyer may be able to keep you in your home a bit longer while you work on other living arrangements.

If you are considering a short sale on your personal residence, I strongly suggest you act sooner rather than later. Mortgage debt forgiveness is treated as regular income under the IRS tax code. That means if you successfully short sale your house, you could be taxed on the amount of your mortgage debt that your bank had to forgive to complete the sale. This really added insult to injury for people already hurt by the housing market. The Mortgage Forgiveness Debt Relief Act of 2007 eliminated these tax implications for short sales of primary residences, but only through 2012 - this year!

David Welch Real Estate Optimist, Orlando Real EstateAny Home-Any Phone


Posted in:General
Posted by David W. Welch on March 9th, 2012 11:26 AMView Comments (1)

Subscribe to this blog

With the number of homes for sale continuing to drop, only 8,290 homes remain listed as active by Orlando Realtors and 10,399 homes are listed as contract pending. Of the homes still available, 780 are foreclosures and 2,390 are short sales. Of the home with contracts pending, 1,285 are foreclosures and 7,389 are short sales.

Way too early Orlando real estate sales statistics for March 2012: so far there have been 344 closed sales with a median sales price of $115,000. At this pace, I expect better than 2,200 sales this month.

David Welch Real Estate Optimist, Orlando Real EstateAny Home-Any Phone


Posted in:General
Posted by David W. Welch on March 9th, 2012 7:38 AMLeave a Comment

Subscribe to this blog

There are only 8,384 homes available for sale listed by Orlando Realtors and 10,267 homes with contracts. With nearly 2,000 closed sales last month, the supply of homes remaining is barely over a four month supply. We generally consider six months to be a balanced market. Of the homes still available, 831 are foreclosures and 2,433 are short sales. Of the homes with contracts on them, 1,228 are foreclosures and 7,342 are short sales.

I don't report the sales this early in the month, but it looks like March is coming in like a lion.


Posted in:General
Posted by David W. Welch on March 6th, 2012 1:38 PMLeave a Comment

Subscribe to this blog

If you follow my blog today's numbers, of course, will not be a big surprise. The story to keep an eye on is our inventory which continues to decline. Currently, there are only 8,415 homes available for sale. Of the homes available for sale 844 or 10.0% are foreclosures, 2,450 or 29.1% are short sales, and 5,121 or 60.9% are equity sales. Based on February's sales numbers we have just under 4.23 months supply of homes for sale. We typically consider six months supply to indicate a balanced market. Although new listings come on the market every day, they are going off the market faster. Homes are going under contract very quickly with 10,239 home with contracts on them right now. Of the homes with contracts, 1,240 or 12.1% are foreclosures, 7,320 or 71.5% are short sales, and 1,679 or 16.4% are equity sales.

Sales numbers improved compared with January with 1,991 closed transactions with a median sales price of $106,000. Sales were lower than the 2,143 closings a year ago, but the median price is up over 11.5% compared to last February's $95,000. Of the sales closed last month, 562 or 28.3% were bank owned, 760 or 33.6% were short sales, and 760 or 38.2% were equity sales. Foreclosures had a median sales price of $75,000 which is up from last year's $70,100. Short sale prices also increased from a year ago rising from $93,250 to $99,000. The closed short sales represented 9.1% of all the pending short sales. Equity sales did see a drop in median price from a year ago going from $157,500 a year ago down to $147,750 last month. Equity sales did make up a lot higher percentage of sales compared to a year ago with 38.2% of all sales being traditional compared with only 27.0% last year. Cash buyers were very stong in February with 1,140 or 57.3% of sales closing for all cash and a median sales price of $73,199 compared to $64,000 last year. Financed sales accounted for only 851 or 42.7% of closings with a median price of $144,738 down from $150,000 last year.

David Welch Real Estate Optimist, Orlando Real EstateAny Home-Any Phone


Posted in:General
Posted by David W. Welch on March 5th, 2012 12:51 PMLeave a Comment

Subscribe to this blog
March 5th, 2012 11:20 AM
HARP Success Story - you may choose to forward this to someone you care about that is upside down on their home.  Imagine how grateful they will be.

Orlando, Florida HARP 2 success stories continue. HARP refinances are finding their way into the savings accounts of many Florida homeowners day after day. This is the story of Nate and Alona.

Nate and Alona just closed on their Florida HARP refinance Loan and we wanted to share how HARP and Certified Mortgage Planners kept them from spending more than necessary on their Orlando Home Loan.

Loan Before HARP:

Balance: $240,281

Interest Rate: 5.50%

P+I Payment: $1447.86

New HARP Loan:

Balance: $243,300

Interest Rate: 4.25%

P+I Payment: $1196.89

HARP refinance monthly savings: $250.97

See my monthly savings

We advised Nate and Alona to structure their loan to have $0 closing costs. In fact,we paid their closing costs and credited an additional $1,343.78 towards creating their new escrow account for taxes and insurance.

We also structured the loan to allow Nate and Alona to:

  • keep their February 1st payment ? keeping $1,916,
  • no payment due March 1st ? keeping another $1,916,
  • they received back $490 back at closing,
  • PLUS they will receive their escrow refund $1,702 after closing.

All of this was strategic designed to get some monies back through the exercise.

More good news - we identified their property was significantly over-insured and advised Nate to have the dwelling coverage reduced, which saved over $1,000 per year.

These added strategies through consultative advice created:

HARP immediate ?in-my-pocket? savings of $8,367

See my monthly savings

Do you think their current loan servicer would have taken the time to evaluate and create such a comprehensive plan to help Nate and Alona improve their cash flow and put some significant monies to their emergency cushion fund?

Experience is showing more people can take advantage of this type of relief. Who do you know that would benefit from you forwarding this to because you care about them?

Join our CLOSED Facebook Group | Apply for HARP now.

Certified Mortgage Planners and Chris Brown are nationally recognized HARP Experts for the Florida HARP Loan Refinance Program.

Florida HARP Refinance

Posted in:General
Posted by David W. Welch on March 5th, 2012 11:20 AMLeave a Comment

Subscribe to this blog

There are 8,429 homes available for sale listed by Orlando Realtors, and 10,166 homes with contracts on them. Of the homes still available for sale, 821 are foreclosures and 2,510 are short sales. Of the homes with contracts on them, 1,250 are foreclosures and 7,267 are short sales.

Orlando real estate sales statistics for February so far: there have been 1,920 sales posted with a median sales price of $108,000.

David Welch Real Estate Optimist, Orlando Real EstateAny Home-Any Phone


Posted in:General
Posted by David W. Welch on March 2nd, 2012 11:15 AMLeave a Comment

Subscribe to this blog

There are only 8,443 homes available for sale listed by Orlando Realtors, and 10,218 homes with contracts. Of the homes still available, 807 are foreclosures and 2,533 are short sales. Of the homes under contract, 1,276 are foreclosures and 7,264 are short sales.

Orlando real estate sales statistics for February so far: 1,763 sales have been posted with a median sales price of $106,450.

David Welch Real Estate Optimist, Orlando Real EstateAny Home-Any Phone


Posted in:General
Posted by David W. Welch on March 1st, 2012 9:53 AMLeave a Comment

Subscribe to this blog

Archives:

Categories:




 
State:
County:
City:
Zip: