[Broker Dave]

Currently we are seeing an uptick in Orlando's home prices and a drop in homes on the market.

Since January of this year, Orlando's median price has increased by 23.3%

Median represents the price-point where half the homes in an area are selling above and half below. To find a median value, one takes all of the values in the distribution, sorts in ascending order, lines them up and finds the middle value.


Orlando Market Report Video

Will these trends continue, no one knows for sure but it is a welcome change!

Hope this helps,

[Soup Not See]

Originally Posted by Broker Dave

Currently we are seeing an uptick in Orlando's home prices and a drop in homes on the market.

Since January of this year, Orlando's median price has increased by 23.3%

Median represents the price-point where half the homes in an area are selling above and half below. To find a median value, one takes all of the values in the distribution, sorts in ascending order, lines them up and finds the middle value.

Will these trends continue, no one knows for sure but it is a welcome change!

Hope this helps,

I'm confused Broker Dave ... why are we seeing reports like this if prices are on the rise ...

Florida home prices: Florida home prices to fall further - OrlandoSentinel.com

[MartinEden99]

Originally Posted by leftee

I'm confused Broker Dave ... why are we seeing reports like this if prices are on the rise ...

Florida home prices: Florida home prices to fall further - OrlandoSentinel.com

I would guess that while the median may be up (I'd like to see a 3rd party's stats on that), the type of housing being purchased is as well. So you may be seeing people snatching up higher end housing than in the past (i.e. why the median is higher) however, even that higher end housing is cheaper than it would have been a year ago (i.e. why the average is lower). That would be a decent sign if true.

What I'm most curious about is the statement of 4.8 supply months in the Orlando market. That is an incredible number to get down to, if accurate.

[Broker Dave]

One reason is these reports are based on months old information and not a real time data snapshot that local mls can provide. Local mls data is the true source at any given moment in time of what the real estate market is doing as it relates to home pricing and inventory (sold, pending, listed);

Current July statistics:

Completed transactions in July - 2673 (orange, lake, seminole, osceola)
Pending - 9,869 (this time last year 19133, banks are quicker to short sale)
Currently Listed - 10,349 (includes single family, condo's, townhomes)

Now although the Orlando Sentinel article is based on a well known and reliable report the reporter didn't check with the local source that again is a true local market snapshot. A simple phone call and maybe the reporter would have noted the current local numbers which is what a majority of the public requires.

No disrespect but print and T.V. do sometimes give part of the story.

Now again this just may be a blip, who knows, but it's worth noting.

Hope this helps,

[Tampa Homes]

I'm seeing home prices going sideways in many neighborhoods right now, holding steady. I'm also seeing homes get under contract quickly if they are priced correctly. Inventory is slowly but surely being sold off: Back in Jan. of 2008 we had about 25 months of inventory on the market. As of July we had 5.5 months.

[Tampa Homes]

Originally Posted by Broker Dave

Currently we are seeing an uptick in Orlando's home prices and a drop in homes on the market.

Since January of this year, Orlando's median price has increased by 23.3%

Median represents the price-point where half the homes in an area are selling above and half below. To find a median value, one takes all of the values in the distribution, sorts in ascending order, lines them up and finds the middle value.


Orlando Market Report Video

Will these trends continue, no one knows for sure but it is a welcome change!

Hope this helps,

This also mirrors what I wrote in July: Recent data taken from Hillsborough, Pinellas, Pasco, Hernando, Polk, Sarasota and Manatee counties show a median price increase of roughly six percent from May to June. Looking at this multi-county area also shows a 22% price increase since the beginning of 2011.