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June 2014 Housing Market - Talking Points
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Released July 15, 2014

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Median Price

*The median price of all existing homes combined sold in June 2014 — $165,100 — is a 9.88 percent increase from the $150,250 median price recorded in June 2013.

*The median price for “normal” existing homes sold in June is $194,003, an increase of 4.87 percent from the median price of “normal” existing homes in June 2013.

*The year-to-year median price for short sales increased by 16.36 percent in June, while the median price for bank-owned sales decreased by 0.47 percent.

*The year-over-year median price for single-family homes increased by 7.06 percent, and the year-over-year median price for condos increased 5.13 percent.


*Orlando home sales (all home types and all sales types combined) in June 2014 were up 5.94 percent when compared to June of 2013 and up 4.99 compared to May 2014. Single-family sales increased 7.91 percent, while condo sales decreased by 6.91 percent year to year and townhome/villa sales increased by 9.32 percent.

*Of the 2,817 sales in June, 1,850 normal sales accounted for 65.67 percent of all sales, while 747 bank-owned and 220 short sales respectively made up 26.52 percent and 7.81 percent.

*The number of normal sales in June increased by 11.31 percent compared to June 2013, while short-sales decreased 57.20 percent and foreclosures increased by 54.66 percent.

*The 7,135 pendings in June of this year is a decrease of 15.47 percent compared to the 8,441 pendings in June of last year (and a 3.67 percent decrease compared to the 7,407 pendings last month).

*Short sales made up 37.74 percent of pendings in June, a decline of 43.33 percent from June of last year. Normal properties accounted for 40.98 percent (an increase of 12.50 percent) and bank-owned properties accounted for 21.28 percent (an increase of 39.27 percent).

*Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in June were up by 1.38 percent when compared to June of 2013. Throughout the MSA, 3,242 homes were sold in June 2014 compared with 3,198 in June 2013. To date, MSA sales are down 5.57 percent.

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

-Lake: 4.14 percent above June 2013;
-Orange: 5.06 percent below June 2013;
-Osceola: 14.16 percent above June 2013; and
-Seminole: 6.47 percent above June 2013.


*There are currently 11,518 homes available for purchase through the MLS. The June 2014 overall inventory level is 51.23 percent higher than it was in June 2013; inventory is up 5.59 percent compared to May 2014.

*The inventory of normal sales increased 57.14 percent compared to June 2013, while foreclosure inventory is up 101.68 percent and short sale inventory is down 5.07 percent.

*Year-to-year single-family home inventory is up 55.69 percent; condo inventory is up 36.46 percent.

*The current pace of sales translates into 4.09 months of inventory supply.


*New contracts are down 15.36 percent compared to June of 2013. New listings are up 14.34 percent.

*The Orlando affordability index decreased to 180.85 percent in June. First-time homebuyer affordability in June decreased to 128.60 percent.

*Homes of all types spent an average of 71 days on the market (down from 73 days the month prior) before coming under contract in June 2014, and the average home sold for 96.98 percent of its listing price (up from 96.40 percent the month prior).

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