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Orlando Real Estate Sales Statistics – March 2010

April 29th, 2010 by tisner

Pending home sales rose sharply in February, potentially signaling a second surge of home sales in response to the home buyer tax credit, according to the National Association of Realtors®. Contracts signed in February, rose 8.2 percent above February 2009. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said the improvement is another hopeful sign. “The rise in pending sales may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten. We need a second surge to reduce inventory and stabilize home values.”

Let’s look at Orlando real estate sales statistics (residential) for March to see how the housing recovery is progressing locally.

Orange County Real Estate Sales Statistics – March 2010

There were 575 more homes sold in Orange County in March 2010 than March 2009. A 32 percent increase! The average sales price  declined 12 percent and the median sales price declined 22 percent from the previous year. 

Orange County Homes
Sold
Average Sales
Price
Median Sales
Price
Mar 2010 1,772 $155,030 $109,000
Mar 2009 1,197 $175,358 $140,000

Osceola County Real Estate Sales Statistics – March 2010

Osceola County home sales increased by 111 homes or +21 percent. Prices declined however with the average sales price down 7 percent and the median price down 13 percent.

Osceola County Homes
Sold
Average Sales
Price
Median Sales
Price
Mar 2010 540  $137,307  $106,500
Mar 2009  429  $147,214  $122,900

Seminole County Real Estate Sales Statistics – March 2010

Seminole County residential sales increased 37 percent with 179 more homes sold in March 2010. The averages sales and the median sales price decreased 15 percent and 14 percent respectively from March 2009 levels. 

Seminole County Homes
Sold
Average Sales
Price
Median Sales
Price
Mar 2010 486  $162,625  $137,350
Mar 2009 307  $191,919  $159,900

Lake County Real Estate Sales Statistics – March 2010

Residential sales in Lake County also increased with 106 more homes sold for a 24 percent increase. The average sales price dropped 11 percent and the median sales price dropped 13 percent during the same time period.

Lake County Homes
Sold

Average Sales
Price

Median Sales
Price
Mar 2010  438  $150,579  $129,900
Mar 2009 332  $169,022  $149,000

Polk County Real Estate Sales Statistics – March 2010

Polk County followed the trend of the surrounding counties with 179 more homes selling, a 24 percent improvement. Sales prices declined with the average sales price dropping 12 percent and the median sales price dropping 11 percent.

Polk County Homes
Sold
Average Sales
Price
Median Sales
Price
Mar 2010 757  $107,667  $92,900
Mar 2009  578  $122,049  $104,900

What do these numbers mean to you? An increase in sales is usually followed by an increase in prices. The number of homes sold increased across the board in our local markets in 2010. Even though prices continued to drop, it shouldn’t be long before prices turn the corner and start to tick upward. The market appears to be at its bottom. Now is the time to get your best price on an Orlando home, before the prices move upward.

Remember, the first-time home buyer tax credit has been extended through April 30, 2010 and a new tax credit has been implemented for current home owners. Give us a call to take advantage of your FREE government money! 

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

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