Orange County, FL – Market Sales Statistics for
January '10

The following are the market sales statistics for Orange County, Florida for January 2010.  The major city in Orange County is Orlando.  For purposes of this analysis we are splitting the data according to single-family homes vs, condominiums, townhomes and villas.

A couple of definitions are in order.  The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time – in other words, it’s the midpoint of sale prices.  So basically what this means, is that the median sales price is showing market activity in that it’s specifically indicating which price range is more active.

The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.

The sales to list price ratio is just that, you’re dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.

There needs to be a disclaimer here.  These stats are only as good as telling us what it being purchased and happening at a certain period in time.  Also, it needs to be fully understood that not only is real estate local, but it is hyper-local.  What this means is that the trends that we hear about are overall.  Let's put it this way, what's happening in one neighborhood, may not be realized in the neighborhood next door.

Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time.  More high-end homes might be sold in one month as opposed to another.  By looking at a longer period, you will get a better overall picture.  It is all relative and this has to be understood when utilizing these stats.

Single-Family Homes

730 homes sold during the month of January.

The average sales price is $180,411 with 144 days on the market.

The median sales price is $135,000.

The sales to list price ratio is 96%

The most expensive home sold for $7.25M in Isleworth in Windermere and was on the market 319 days.

The least expensive home sold for $15,000 in Abbott Caroline in Apopka after 73 days on the market.

The average sales price for the same period a year earlier was $230,235 with 138 days on the market with a sales to list price ratio of 94% on 512 sales, a 43% increase.

The month to month changes show a decrease in the average sales price of 11% and a decrease in the median sales price of 9%.  There was a decrease in sales volume of 29% with a 1% decrease in the sales to list price.

Condos, Townhomes & Villas

419 homes sold.

The average sales price was $72,132 with 120 days on the market.

The median sales price was $50,000.

The sales to list price ratio is 100%

The most expensive sold for $1.05M in Star Tower Condo in Orlando and was on the market 254 days.

The least expensive sold for $8100 in Residences at Villa Medici Condo in Orlando and was on the market for 81 days.

The average sales price for the same period a year earlier was $95,628 with 130 days on the market with a sales to list price ratio of 94% on 186 sales, an increase of 126%.

The month to month changes show a decrease in the average sales price of 13% and a decrease in the median sales price of 12%.  There was a decrease in sales volume of 16% with a 1% decrease in the sales to list price ratio.