The housing market in Florida, as of July 2014, reported a higher number of closed sales, more listings, higher inventory volume, and higher average prices, according to data reports from various realtors in Florida. Completed contracts on single-family homes throughout the state of Florida reached a total count of more than 23,000 for the month of June, which was an increase of more than 14% over the number for June of last year. June 2014 was the 31st consecutive month that average sales prices were on the rise for single-family and condo homes. The housing market in Orlando, FL is being positively impacted due to the current improvement of the job force and rising number of people in the city of Orlando.
Florida Sales
The average sales price for single-family homes in June 2014 was $185,000, which is a bit more than 5% greater than last year around the same time. The average price for condos or townhouse-type properties for June was approximately $141,000, which is approximately 9% more than last year. Half of the properties for sale sold for more than the median, while the other half sold for less than that amount. The townhouse market in Florida reflected a sales total of more than 9,550 in June, which was an increase of approximately 3% compared to the same time last year. There were less short-sales in June than there were at the same time of the previous year. There was a decline of about 60%, while the single-family homes decreased a little more than 50%.
The Orlando Factor
The midpoint sales range of Orlando homes for July 2014 through October 2014 was approximately $167,000. This reflects an incline of .6%, in comparison to the previous quarter and a decline of just more than 1% in comparison to the previous year. The last 5 years of home sales in Orlando have shown an appreciated value of 36%. The average listing range for homes in Orlando with most realtors was approximately $177,490 at the end of the first week of October. This reflects a decrease of more than 11% compared to the previous week and a decrease of more than 7% when compared to the end of the week of September 10th. Orlando price per square foot averages was approximately $110, which was relatively equal to the same time last year. Those interested in property purchase in Orlando typically scouted the most popular neighborhoods of Pine Hills, Lake Nona, Meadow Woods, and others.
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