*The median price of all existing homes combined sold in August 2014 — $165,000 — is a 6.45 percent increase from the $155,000 median price recorded in August 2013.
*The median price for “normal” existing homes sold in August is $190,000, an increase of 5.56 percent from the median price of “normal” existing homes in August 2013.
*The year-to-year median price for short sales increased by 25.98 percent in August, while the median price for bank-owned sales increased by 9.00 percent.
*The year-over-year median price for single-family homes increased by 6.05 percent, and the year-over-year median price for condos increased 1.30 percent.
*Orlando home sales (all home types and all sales types combined) in August 2014 were down 15.55 percent when compared to August of 2013 and down 3.66 compared to July 2014. Single-family sales decreased 13.12 percent, while condo sales decreased by 16.41 percent year to year.
*Of the 2,449 sales in August, 1,643 normal sales accounted for 67.09 percent of all sales, while 631 bank-owned and 175 short sales respectively made up 25.77 percent and 7.15 percent.
*The number of normal sales in August decreased by 14.25 percent compared to August 2013, while short-sales decreased 64.93 percent and foreclosures increased 30.10 percent.
*The 6,507 pendings in August of this year is a decrease of 13.46 percent compared to the 7,519 pendings in August of last year (and a 3.86 percent decrease compared to the 6,768 pendings last month).
*Short sales made up 34.44 percent of pendings in August, a decline of 45.93 percent from August of last year. Normal properties accounted for 41.68 percent (an increase of 17.61 percent) and bank-owned properties accounted for 23.88 percent (an increase of 45.51 percent).
*Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in August were down by 6.99 percent when compared to August of 2013. Throughout the MSA, 3,209 homes were sold in August 2014 compared with 3,450 in August 2013. To date, MSA sales are down 4.52 percent.
*Each individual county’s monthly sales comparisons are as follows:
• Lake: 6.12 percent above August 2013;
• Orange: 7.39 percent below August 2013;
• Osceola: 17.59 percent below August 2013; and
• Seminole: 6.72 percent below August 2013.
*There are currently 13,084 homes available for purchase through the MLS. The August 2014 overall inventory level is 52.57 percent higher than it was in August 2013; inventory is up 8.19 percent compared to July 2014.
*The inventory of normal sales increased 56.81 percent compared to August 2013, while foreclosure inventory is up 86.39 percent and short sale inventory is up 6.65 percent.
*Year-to-year single-family home inventory is up 55.25 percent; condo inventory is up 37.23 percent.
*The current pace of sales translates into 5.34 months of inventory supply.
*New contracts are down 13.83 percent compared to August of 2013. New listings are up 2.04 percent.
*The Orlando affordability index increased to 181.44 percent in August. First-time homebuyer affordability in August increased to 129.02 percent.
*Homes of all types spent an average of 68 days on the market (down from 73 days the month prior) before coming under contract in August 2014, and the average home sold for 96.82 percent of its listing price (up from 96.63 percent the month prior).