Orlando real estate statistics November 2011

The Orlando Florida November 2011 real estate statistics 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 FL, 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

Nov 2010 15,192 3346 3243 8998 1936 96

Aug 2011 10,055 3264 3466 9502 2500 101

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 1950 99

Inventory is down dramatically (nearly 33%) in the last 12 months. It has somewhat leveled off with a very slight increase in units the last 2 months. Some of this can be attributed to the number of new foreclosures and short sales hitting the market. November was record month for new foreclosure filings in Central Florida. Also for the first time since December 2010, new listings exceeded new pendings. There are a lot of elements at play with all this and and I'm not sure what all it means. Hopefully it is just a temporary slowdown as we hit the Fall and Winter months.

Prices have remained basically steady but year over year they are up about 9%. The median price is at $115,000 and the average price is at $153,300 which is about the same prices as they have been since June.

Here is an additional analysis put out by the Orlando Realtor Association and the Orlando Sentinel for you to review as well. These analysis both discuss how short sales are actually making it to closing. Our office has closed a dozen or short sales in the last few weeks, so this is a trend I see as well. We would love to help you buy or sell a house in the near future - nearly 30 houses closed last month. I bought a great investment home in Casselberry just last month myself and have a few more in the pipeline. It is a great time to buy. Rates are low and deals are plentiful.