There has been a five-year trend of median price decreases from December to January, starting back in December of 2007.
(PRWEB) March 06, 2012
The latest Homes.org market report provides analysis on the health of the Orlando real estate market based on recent sales reports and insight from local professionals. The report is the latest installment of an in-depth series that features local real estate markets across the nation, providing buyers and sellers with a better understanding of what's happening in their local area rather than relying on national statistics that can be misleading.
Recently, Orlando Florida was included in the Homes.org's Top 9 Real Estate Markets to Watch in 2012 as well as Realtor.com's list of Top 10 Turnaround Towns. Like many other improving real estate markets, Orlando is experiencing increased interest due to better affordability. However, prices are showing signs of stabilization and in January of this year the median sales price rose compared to last the same time last year due largely to a significant drop in the number of foreclosures. Even though the median sales price was down from the December 2011 numbers Orlando Regional REALTOR Association chairman Stephen Baker isn't worried, "there has been a five-year trend of median price decreases from December to January, starting back in December of 2007."
Though the average mortgage interest rate is just 4.01%, lending is still very tight and the majority of sales in Orlando are paid for in cash, 53.97% in January to be exact. That signals high interest among investors that are astute to the fact that there are great deals to be had in Orlando right now.
Orlando Real Estate Market Latest Information and Statistics
County: Orange County
Zip Codes in the City: 32801–32899
Population (City): 238,300
Population (Metro): 2,134,411
Total Households(2006-2010): 97,661
Median Home Value (2006-2010): $217,500
January 2012 Median Sale Price in the Orlando regional area : $108,000
- Normal Sales - $140,000
- Short Sales - $90,000
- Foreclosures - $85,000
January 2012 Homes Sales in the Orlando regional area: 1,677
- Single Family - 143
- Condos - 275
- Duplexes / Townhomes - 160
Foreclosures (Orange County): 1 in 250
Renters vs. Owners: 59.8% vs 40.2%
Type of Home:
20% Single Family
Popular Orlando Neighborhoods Seeing Improvement in Sales
- Central Business District
- Delaney Park
- Metro West
- Rosemount North
- South Semoran
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