Market Pulse Report - June 2013

The most important points of today's market seem to reflect more of the same, but then some new items:

• Inventory is down from this time last year, but increased by 400 homes compared to last month
• Prices have increased steadily the past few months 
• Listing and sales of traditional homes have increased (this is the best news! - I think we were all getting sick and tired of all the short sales).

For a complete list of homes available in Central Florida register and start searching at www.JenelleFerrer.com. 


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.

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.