Increases in the median sales price of both bank-owned homes and short-sale homes have helped Orlando’s overall median home price increase for the third consecutive month, to $115,000!
Members of the Orlando Regional REALTOR® Association reported an increase of 32.74 percent on completed home sales from April 2009 to April 2010. In addition to this great news is the fact that the number of new contracts filed in April 2010, is an increase of 53.02 percent over April of last year!
Another indicator that the real estate market in Florida is improving is that there are 86.18 percent more homes (10,832) under contract and awaiting closing in April of this year than in April of last year (5,818).
Orlando Regional REALTOR® Association Chairman of the Board Kathleen Gallagher McIver noted, “The homebuyer tax credit helped stabilize the market by creating a surge of home sales during the spring buying season,” said Gallagher McIver. “Moving forward, low interest rates and affordable prices will continue to keep homebuyer demand strong.”
More good news…
Homes of all types spent an average of 81 days on the market before coming under contract in April 2010 (the lowest since December 2006), and the average home sold for 95.85 percent of its listing price. In April 2009 those numbers were 102 and 93.20 percent, respectively.