January 2013 Housing Market – Talking Points
Released February 15, 2013
»Expanded talking points
»Detailed statistical reports, video
*Orlando home sales (all home types combined) in January 2013 were up 11.09 percent when compared to January of 2012 and down 23.23 percent when compared to December 2012.
*Single-family home sales in the Orlando area increased by 14.84 percent in January when compared to January of last year. Villa sales increased by 1.76 percent; condo sales remained exactly the same.
*Of the 1,923 sales in January, 954 normal sales accounted for 49.61 percent of all sales, while 514 bank-owned and 455 short sales respectively made up 26.73 percent and 23.66 percent.
*The number of normal sales in January increased by 51.43 percent compared to January 2012, while short-sales decreased 30.00 percent and foreclosures increased by 13.97.
*The 8,432 pendings in January of this year is a decrease of 3.18 percent compared to the 8,709 pendings in January of last year (and a 6.96 percent increase compared to the 7,883 pendings last month).
*Short sales made up 64.48 percent of pendings in January. Normal properties accounted for 22.83 percent and bank-owned properties accounted for 12.69 percent.
*Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in January were up by 7.42 percent when compared to January of 2012. Throughout the MSA, 2,330 homes were sold in January 2013 compared with 2,169 in January 2012. Each individual county’s monthly sales comparisons are as follows:
- Lake: 21.45 percent above January 2012 (368 homes sold in January 2013 compared to 303 in January 2012);
- Orange: 2.27 percent above January 2012 (1,128 homes sold in January 2013 compared to 1,103 in January 2012);
- Osceola: 3.60 percent above January 2012 (403 homes sold in January 2013 compared to 389 in January 2012); and
- Seminole: 15.24 percent above January 2012 (431 sold in January 2013 compared to 374 in January 2012).
*The median price of all existing homes combined sold in January 2013 — $128,000 — is an 18.52 percent increase from the $108,000 median price recorded in January 2012.
*The median price for "normal” existing homes sold in January is $155,000, an increase of 10.49 percent from the median price of "normal” existing homes in January 2012.
*The median price for short sales increased by 22.22 percent to $110,000, while the median price for bank-owned sales increased by 14.12 percent to $97,000.
*There are currently 7,336 homes available for purchase through the MLS. The January 2013 overall inventory level is 20.76 percent lower than it was in January 2012.
*Single-family home inventory is down 24.91 percent; condo inventory is up 2.42 percent.
*The current pace of sales translates into 3.81 months of inventory supply.
*New contracts are down 1.81 percent compared to January of 2012. New listings are up 1.30 percent.
*The Orlando affordability index increased to 250.41 percent in January. First-time homebuyer affordability in January increased to 178.07 percent.
*Homes of all types spent an average of 81 days on the market before coming under contract in January 2013, and the average home sold for 95.98 percent of its listing price.