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Orlando Real Estate Market Trends – May 2011

July 14th, 2011 by tisner

Despite the ups and downs of the housing market, home owners and non-owners alike consider owning a home essential to the American Dream according to a survey conducted on behalf of the National Association of Home Builders (NAHB) by Public Opinion Strategies of Alexandria, VA, and Lake Research Partners of Washington, D.C.

The survey results show that Americans see beyond the immediate housing market to the enduring value of homeownership. An overwhelming 75 percent of the people who were polled said that owning a home is worth the risk of the fluctuations in the market, and 95 percent of the home owners said they are happy with their decision to own a home.

One of the more striking aspects of the survey results is the intensity of sentiment among potential voters, according to Celinda Lake, president of Lake Research Partners. “People believe overwhelmingly that owning a home is an anchor to the American Dream,” she says. “It’s an anchor to your retirement, and it’s an anchor to your personal economic well-being.”

Among the other survey results:

  • 73 percent said owning a home is one of their goals
  • Homeownership and a retirement savings program are considered by voters to be their best investments.
  • 80 percent of home owners would advise a close friend or family member just starting out to buy a home.
  • Saving for a down payment and closing costs is the biggest barrier to homeownership.
  • Americans believe that owning their own home is as important as being successful at their job or being able to pay for a family member’s education.

Owning a home is not just a commodity to people. It is a core value.

Now take a look at how the Orlando real estate market performed in May.  

Orange County Real Estate Sales Statistics – May 2011  

Orange County saw 235 fewer homes sold in May 2011 than May 2010. A 13 percent decrease. The average sales price increased by 3 percent and the median sales price increased by 4% from May 2010. 

Orange County Homes Sold Average Sales Price Median Sales Price
May 2011 1,616 $ 161,397 $ 115,000
May 2010 1,851 $ 166,050 $ 119,900

 

Osceola County Real Estate Sales Statistics – May 2011

Osceola County homes saw a home sales decreased by 18 homes a 3 percent decrease. Prices decreased with the average sales price down 4 percent and the median price down 6 percent.

Osceola County Home Sold Average Sales Price Median Sales Price
May 2011 545 $ 122,702 $ 98,000
May 2010 563 $ 128,434 $ 105,000

 

Seminole County Real Estate Sales Statistics – May 2011

Seminole County residential sales decreased by 12 percent with 65 fewer homes sold in May 2011. The averages sales decreased 1 percent and the median sales price remained consistant from May 2010 levels. 

Seminole County Homes Sold Average Sales Price Median Sales Price
May 2011 496 $ 160,035 $ 129,900
May 2010 561 $ 160,783 $ 130,000

 

Lake County Real Estate Sales Statistics – May 2011  

Residential sales in Lake County decreased with 52 fewer homes sold for a 12 percent decrease. The average sales price decreased by 15 percent and the median sales price decreased by 8 percent during the same time period.

Lake County Homes Sold Average Sales Price Median Sales Price
May 2011 372 $ 125,155 $ 119,950
May 2010 424 $ 148,005 $ 129,900

 

Polk County Real Estate Sales Statistics – May 2011  

Polk County followed the trend of the surrounding counties with 134 fewer homes selling, a 17 percent decrease.  The average sales price decreased by 2 percent and the median sales price decreased by 5 percent. 

Polk County Home Sold Average Sales Price Median Sales Price
May 2011 661 $ 109,146 $ 89,900
May 2010 795 $ 111,757 $ 94,900

 

Now is the time to get your best price on an Orlando home, before the prices move upward. 

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Teri Isner, CIPS, CRS, GRI
Keller Williams At-The-Lakes
66 Riley Road
Celebration, Fl 34747

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