Out of all the information out there, one main update is this: Prices are going up and so is the interest rate. Here is the rundown of stats:
*Orlando home sales (all home types combined) in September 2013 were up 4.70 percent when compared to September of 2012 and down 17.10 percent when compared to August 2013.
*Single-family home sales in the Orlando area increased by 7.59 percent in September when compared to September of last year. Villa sales increased by 16.24 percent; condo sales decreased 15.60 percent.
*Of the 2,404 sales in September, 1,543 normal sales accounted for 64.18 percent of all sales, while 437 bank-owned and 424 short sales respectively made up 18.18 percent and 17.64 percent.
*The number of normal sales in September increased by 40.27 percent compared to September 2012, while short-sales decreased 34.87 percent and foreclosures decreased by 19.82 percent.
*The 7,224 pendings in September of this year is a decrease of 22.05 percent compared to the 9,268 pendings in September of last year (and a 3.92 percent decrease compared to the 7,519 pendings last month).
*Short sales made up 54.18 percent of pendings in September. Normal properties accounted for 30.70 percent and bank-owned properties accounted for 15.12 percent.
*Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in September were up by 4.27 percent when compared to September of 2012. Throughout the MSA, 2,832 homes were sold in September 2013 compared with 2,716 in September 2012. To date, sales throughout the MSA are 8.56 percent above this time last year.
Each individual county’s monthly sales comparisons are as follows:
- Lake: 17.58 percent above September 2012;
- Orange: 0.07 percent below September 2012;
- Osceola: 3.40 percent above September 2012; and
- Seminole: 7.32 percent above September 2012.
*The median price of all existing homes combined sold in September 2013 — $155,475 — is a 24.48 percent increase from the $124,900 median price recorded in September 2012.
*The median price for "normal” existing homes sold in September is $180,000, an increase of 12.50 percent from the median price of "normal” existing homes in September 2012.
*The year-to-year median price for short sales increased by 30.00 percent to $130,000 in September, while the median price for bank-owned sales increased by 19.40 percent to $100,299.
*There are currently 9,127 homes available for purchase through the MLS. The September 2013 overall inventory level is 13.06 percent higher than it was in September 2012; inventory is up 6.42 percent compared to August 2013.
*Year-to-year single-family home inventory is up 12.65 percent; condo inventory is up 9.93 percent.
*The current pace of sales translates into 3.80 months of inventory supply.