According to the Orlando Realtors Association, the median price of homes rose 12% in December 2012 over December 2011. Excluding distressed sales, the median price in was $159,000. The cumulative median price for all of 2011 was $109,900 which is higher than 2010′s $108,500.
Other numbers to note from the Realtors year-end report:
- Foreclosure sales were down over 56% in 2011 as the foreclosure pipeline starts winding down
- Total sales were down in 2011 to 34,670 from 2010′s 35,140, a decline of 1.34%. This decline is low considering no home buyer tax credit existed in 2011.
- Short sales account for 75% of all pending contracts
- Inventory is down 35% from December of last year
- Current supply stands at 4.58 months versus about 6 months last year at year end.
- Normal sales were up 12% in 2011, Short sales were up 21%, while bank-owned were down 27%