Orlando’s Housing Market Adds More Homes For Sale Again in June – The number of unsold homes in the Orlando MSA increased for the second straight month, by adding 224 homes, bringing the total number of unsold homes to 20,567. This brings the housing inventory months on hand (MOH) to 5.61 MOH, which is down slightly from 6.14 MOH last month.
Unsold Homes – June 2010 (20,567): The inventory level of unsold homes increased by 224 homes in June, to 20,567, up from 20,343 in May. This increase in the number of homes for sale is expected to continue for the near future. With the Home Buyer’s Tax Credit behind us, some buyers are expected to pause and wait for the next government stimulus. If no new stimulus programs are offered, we expect buyers to return to a more natural housing market in the coming months.
Sold Homes – June 2010 (3,668): The number of homes sold in June was up slightly to 3,668. This is a 353 unit increase in the number of homes sold, over May’s 3,315 units. This increase in sold homes is expected to slow now that the Tax Credit sales wind down.
Unsold Homes Months on Hand (5.61 MOH): In June Orlando’s housing market dipped into a more favorable seller’s market, with a 5.61 MOH. This is down from the 6.14 MOH in May (6 MOH is considered a balanced buyer/seller market).
Median Home Price June 2010 ($115,950): The median home price was up in slightly in June to $115,950, a $50 increase from the $115,000 median home price in last month.
Summary: We continue to see a number of indicators that point to a healthier and more balanced real estate market in the Orlando MSA. In fact, we now have some communities that are now hot seller’s markets. Avalon Park, Baldwin Park, Hunter’s Creek, Lake Nona, Metrowest and Waterford Lakes are now considered to be seller’s market. The housing inventory in Avalon Park, Baldwin Park, Hunter’s Creek, Metrowest and Waterford Lakes, fell to below 4.0 MOH, which is considered to be a strong seller’s market.
Forecast: With the home buyer’s tax credit behind us, we expect the market to slow over the next months.
Communities in Focus:
| Active Listings | Properties Sold | MOH | |
|---|---|---|---|
| Orlando MSA | 20,567 | 3,668 | 5.61 |
| Altamonte Springs | 475 | 108 | 4.40 |
| Apopka | 742 | 117 | 6.34 |
| Casselberry | 285 | 44 | 6.48 |
| Celebration | 172 | 23 | 7.48 |
| Clermont | 898 | 123 | 7.30 |
| Davenport | 912 | 207 | 4.41 |
| Kissimmee | 2339 | 498 | 4.70 |
| Lake Mary | 379 | 77 | 4.92 |
| Longwood | 569 | 84 | 6.77 |
| Maitland | 231 | 31 | 7.45 |
| Montverde | 42 | 5 | 8.40 |
| Mount Dora | 385 | 22 | 17.50 |
| Ocoee | 287 | 69 | 4.16 |
| Orlando | 6483 | 1520 | 4.27 |
| Oviedo | 447 | 88 | 5.08 |
| Sanford | 691 | 122 | 5.66 |
| Sorrento | 99 | 16 | 6.19 |
| St. Cloud | 660 | 107 | 6.17 |
| Windermere | 500 | 75 | 6.67 |
| Winter Garden | 414 | 88 | 4.70 |
| Winter Park | 715 | 104 | 6.88 |
| Winter Springs | 356 | 65 | 5.48 |
| COMMUNITIES | |||
| Avalon Park | 257 | 74 | 3.47 |
| Baldwin Park | 76 | 21 | 3.62 |
| College Park | 184 | 25 | 7.36 |
| Conway Area | 148 | 26 | 5.69 |
| Dr. Phillips Area | 348 | 67 | 5.19 |
| Heathrow | 75 | 14 | 5.36 |
| Hunter's Creek | 158 | 43 | 3.67 |
| Isleworth | 40 | 0 | - |
| Keene's Point | 65 | 10 | 6.50 |
| Lake Nona | 218 | 43 | 5.07 |
| Metrowest | 181 | 72 | 2.51 |
| Waterford Lakes | 116 | 34 | 3.41 |
{ 2 comments… read them below or add one }
Your Orlando is reputed real estate market, which have some communities in Avalon Park, Baldwin Park, Hunter’s Creek, Lake Nona, Metrowest and Waterford Lakes markets, with 4.0 MOH housing inventory
Being that we are on the Orlando Real Estate Report – June 2010 — Orlando Real Estate Blog topic, Maybe it’s cheap at the moment because the area is rather unpopulated or unappealing to tourists but the area is beginning to gain a growing amount of tourism each year and is looking to become a hot spot in the future?