Orlando home sales were 2449 for the month of August which equates to a monthly drop of 100 sold properties from July. August does typically slow down from July and this is most likely due to the fact that most Central Florida schools start and second and third weeks. The available inventory increased approximately 1000 properties for sale to just over 13K, which represents 5.34 months supply. The Median and Average List and Sales Prices all dropped from the previous month as well. But what is most interesting is that the Average Days on the Market decreased by 5 coming in at 68 days.
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.
There needs to be a disclaimer here. These stats are only telling us what it being purchased and happening at a certain period in time. 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.
For information on Seminole County real estate and Seminole County homes for sale in addition to Seminole County relocation contact Marc Grossman, your Seminole County Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.
To learn more about Marc and the services he has to offer, visit his website.
Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034
2012, 2011 – Highest in Service & Overall Satisfaction – Orlando Magazine