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June 2013 Housing Market - Talking Points
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June 2013 Housing Market – Talking Points
Released July 15, 2013

»Expanded talking points

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Sales

*Orlando home sales (all home types combined) in June 2013 were down 1.95 percent when compared to June of 2012 and down 14.11 percent when compared to May 2013.

*Single-family home sales in the Orlando area increased by 1.28 percent in June when compared to June of last year. Villa sales decreased by 3.81 percent; condo sales decreased 15.84 percent.

*Of the 2,563 sales in June, 1,620 normal sales accounted for 63.21 percent of all sales, while 465 bank-owned and 478 short sales respectively made up 18.14 percent and 18.65 percent.

*The number of normal sales in June increased by 33.88 percent compared to June 2012, while short-sales decreased 35.84 percent and foreclosures decreased by 29.44 percent.

*The 8,441 pendings in June of this year is an increase of 1.31 percent compared to the 8,332 pendings in June of last year (and a 2.20 percent decrease compared to the 8,631 pendings last month).

*Short sales made up 56.30 percent of pendings in June. Normal properties accounted for 30.79 percent and bank-owned properties accounted for 12.91 percent.

*Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in June were down by 3.38 percent when compared to June of 2012. Throughout the MSA, 3,089 homes were sold in June 2013 compared with 3,197 in June 2012. To date, sales throughout the MSA are 7.96 percent above this time last year.

*Each individual county’s monthly sales comparisons are as follows:

  • Lake: 22.79 percent above June 2012 (501 homes sold in June 2013 compared to 408 in June 2012);
  • Orange: 6.11 percent below June 2012 (1,553 homes sold in June 2013 compared to 1,654 in June 2012);
  • Osceola: 10.30 percent below June 2012 (444 homes sold in June 2013 compared to 495 in June 2012); and
  • Seminole: 7.66 percent below June 2012 (591 sold in June 2013 compared to 640 in June 2012).

Median Price

*The median price of all existing homes combined sold in June 2013 — $153,000 — is a 22.40 percent increase from the $125,000 median price recorded in June 2012.

*The median price for "normal” existing homes sold in June is $185,000, an increase of 13.85 percent from the median price of "normal” existing homes in June 2012.

*The year-to-year median price for short sales increased by 4.55 percent to $115,000 in June, while the median price for bank-owned sales increased by 24.28 percent to $108,000.

Inventory

*There are currently 7,616 homes available for purchase through the MLS. The June 2013 overall inventory level is 6.39 percent lower than it was in June 2012; inventory is up 4.73 percent compared to May 2013.

*Year-to-year single-family home inventory is down 9.79 percent; condo inventory is up 2.56 percent.

*The current pace of sales translates into 2.97 months of inventory supply.

Other

*New contracts are down 2.98 percent compared to June of 2012. New listings are up 16.12 percent.

*The Orlando affordability index decreased to 190.84 percent in June. First-time homebuyer affordability in June decreased to 135.71 percent.

*Homes of all types spent an average of 66 days on the market before coming under contract in June 2013, and the average home sold for 97.14 percent of its listing price.

ORRA Partners
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