So far 2017 has been an incredible year for Orlando in the real estate market and the sales of houses and homes. The Orlando real estate market reports and overviews all point to the same statistics and conclusions: all numbers are up and the trend will continue for the remainder of the 2017 year! The statistics show that it is a seller’s market in the Orlando Metropolitan area and in every other city that comprises what is known as Central Florida: Lake Mary, Winter Park, Sanford, Clermont, Altamonte Springs, Apopka, Mount Dora, Kissimmee and Maitland. Add in the demand for houses that’s currently seen in Downtown Orlando and the expanding UCF (University of Central Florida) areas and one can easily say that there has never been a better time to put your Central Florida home on the market. Sunny skies are the forecast for the rest of this year and early 2018. So let’s take a look at the statistics.
2017 Statistics For Orlando Real Estate and Home Sales
Average Sale Price –
The average (or median) sale price of homes sold in Orlando over the year has risen to just under $223,000. This is an increase of roughly 10% over last year and just over 7% compared to just a couple of months ago in June of 2017. Consider these facts: the average price of a home sold in Central Florida has increased now for 71 consecutive months. The average sale price of a house sold in Orlando is almost 93% higher than it was back in July of 2011.
It is important to note that the average sale price of a single family house was actually over $243,000. The reason that the average “home” sale was reported at $223,000 was that condominium sales were included. The price of condos sold in Orlando did also show an increase of roughly 12% to around $110,000.
Average Home Listing Price –
The average listing price in June of 2017 for a Central Florida home just a bit under $270,00. This reflects an increase of almost 8% the average home listing price a year ago (June of 2016).
Price Per Square Foot –
The average price per square foot for a home sold in Orlando was $133. This is an increase of 10% when compared to the average price per square foot just last year.
Home Sales –
According to the most recent ORRA reports, the sales of Orlando houses increased by over 8% when compared on a monthly basis to last year. As an example, June of 2017 showed a total of 3,837 houses were sold and an 8% increase when compared to June of 2016.
New Listings –
There were a total of 4,629 new homes and houses listed last month. This reflects a 10% increase when compared to June of 2016.
New Contracts –
There were a total of 3,421 new sales contracts written on homes and houses this past June. This reflects an incredible 27% increase when compared to June of 2016.
Pending Contracts –
Almost 5,900 pending contracts on houses were reported for June 2017. An increase of a little over 7% when compared to June of 2016.
Inventory of Orlando Houses For Sale –
The start of July 2017 showed a total listing inventory of available homes and houses for sale of 9,141. This reflects a decease of roughly -14% in comparison to the home inventory documented in June of 2016. Again, compared to June of 2016, the Central Florida market reflected over a -12% decrease in single family homes and a -22% decrease in condos for sale. However, there was an overall increase of inventory for sale of over 4% compared to the previous month (May of 2017). In other words, the inventory of available homes for sale in Orlando continued its ongoing trend but it was the smallest decrease that we’ve seen so far in 2017.
Selling Price vs. Listing Price –
The average home sold in Central Florida and Orlando during July of 2017 showed that the home sold for 97.5% of its listing price. This is slightly above the 96.9% seen in June.
Interest Rate –
The average interest rate for a house purchased with a mortgage so far in 2017 is at 3.98%.
A Seller’s Market Exists in Orlando and Central Florida For Homes & Houses
What do all these statistics mean to you? They show that currently the real estate market in Central Florida and Metro Orlando represent a seller’s market. In fact, many realtors and experts are saying that there has never been a better environment and time to sell your house quickly and for more than ever before! With the typical home selling for almost 98% of the listing price and on the market for less than four weeks, now is the best time to place your home on the market.
Talk To Lynda First!
If you going to place your Central Florida home or your house on the market, we urge you to call Lynda Miller today at (407) 620-2924 or contact her Online now. With over 20 years of experience in the Orlando real estate market, Lynda’s clients all say it best: Lynda sold their homes faster and for more money than they had anticipated.
If you are trying to decide whether or not this is the right time to list your home on the market, again we urge you to talk to Lynda Miller first. Find out why Linda was selected as one of Orlando’s Top 100 Realtors by Orlando Magazine for 2017 for yourself. Let Lynda help you sell your home quicker and for more, as she’s done for so many other satisfied home owners. There is a difference in Central Florida’s realtors and Lynda truly is a Real Estate All-Star Agent!