Orlando real estate statistics December 2011

The Orlando FL December 2011 real estate stats have been provided by the Orlando Regional Realtor Association. Here is a direct link to the full MLS statistics details. Below is a summary breakdown of their numbers. This covers Orange and Seminole County Florida, including cities like Orlando, Winter Park, Maitland, Windermere, Apopka, Ocoee, Altamonte Springs, Longwood, Lake Mary, Winter Springs, and Sanford.

Inventory New Listings New Pendings Under Contract Closed Days on Market

Dec 2010 14,993 3444 3196 8363 2467 97

Sept 2011 9,931 3193 3304 9369 2243 102

Oct 2011 9,973 2997 3084 8937 2132 106

Nov 2011 10,136 3045 2887 8909 2027 99

Dec 2011 9,732 2641 2800 8095 2125 103

The year end inventory of homes for sale in metro Orlando plummeted to just 9,732 homes for sale. This is the lowest level we have had since mid-2006. As is typical of December and the holidays, new listings and new pendings were down from previous months of the year. Additionally a larger number of properties always expire at year end because December 31 is often the expiration date on many listing agreements and thus 609 listings expired at the end of December. But sales remain steady. We had almost as many sales last month as we did in October and February 2011 - that is great news.

Home prices appear to be on the rise. We have had 4 months in a row where the average home price went up. December ended the year with a median home price of $118,000 (up from $106,000 in December 2010) and an average home price of $172,500 (up from $146,600 in December 2010).

Here is an additional analysis put out by the Orlando Realtor Association for you to review as well. Prices seem to be going back up slow but steadily despite what the media might have you believe. I am actively buying investment property at the moment as well. Interest rates are extremely low, so do not wait for them to pass before they go back up. Florida is still on sale but who knows for how long.