September 2012 Housing Market - Talking Points
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September 2012 Housing Market – Talking Points
Released October 15, 2012

»Expanded talking points
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*Orlando home sales (all home types combined) in September 2012 were up 11.11 percent when compared to September of 2011 and down 16.43 percent when compared to August 2012.\

*Single-family home sales in the Orlando area increased by 2.64 percent in September when compared to September of last year. Villa sales decreased by 18.67 percent; condo sales increased by 4.78.

*Of the 2,258 sales in September, 1,086 normal sales accounted for 48.10 percent of all sales, while 535 bank-owned and 637 short sales respectively made up 23.69 percent and 28.21 percent.

*The number of normal sales in September increased by 25.84 percent compared to September 2011, while short-sales decreased 21.07 percent and foreclosures dropped 6.63 percent.

*The 9,268 pendings in September of this year is a decrease of 1.08 percent compared to the 9,369 pendings in September of last year.

*Short sales made up 69.49 percent of pendings in September. Normal properties accounted for 19.80 percent and bank-owned properties accounted for 10.71 percent.

*Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in September were down by 3.58 percent when compared to September of 2011.

*Throughout the MSA, 2,670 homes were sold in September 2012 compared with 2,769 in September 2011. To date, sales are down 2.14 percent for all counties combined.

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

  • Lake: 3.72 percent above September 2011 (362 homes sold in September 2012 compared to 349 in September 2011);
  • Orange: 4.37 percent below September 2011 (1,378 homes sold in September 2012 compared to 1,441 in September 2011);
  • Osceola: 16.01 percent below September 2011 (404 homes sold in September 2012 compared to 481 in September 2011); and
  • Seminole: 5.62 percent above September 2011 (526 sold in September 2012 compared to 498 in September 2011).

Median Price

*The median price of all existing homes combined sold in September 2012 — $125,000 — is a 11.11 percent increase from the $112,500 median price recorded in September 2011.

*The median price for "normal” existing homes sold in September is $160,000, an increase of 6.67 percent from the median price of "normal” existing homes in September 2011.

*The median price for short sales increased by 1.01 percent to $100,000, while the median price for bank-owned sales increased by 4.32 percent to $83,760.


*There are currently 8,073 homes available for purchase through the MLS. The September 2012 overall inventory level is 18.71 percent lower than it was in September 2011.

*Single-family home inventory is down 22.86 percent; condo inventory is up 9.82 percent.

*The current pace of sales translates into 3.58 months of inventory supply.


*New contracts are down 6.05 percent compared to September of 2011. New listings are down 3.35 percent.

*The Orlando affordability index decreased to 251.05 percent in September. First-time homebuyer affordability in August decreased to 178.52 percent.

*Homes of all types spent an average of 84 days on the market before coming under contract in September 2012, and the average home sold for 95.80 percent of its listing price.

ORRA Partners
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