Torcana
Wed
23
Feb
2011
Official: Average Orlando property prices increased in 2010
I was browsing through the housing statistics page of the Orlando Realtors Association recently (I know, my wife tells me I need to get out
more too), when I noticed a very interesting PDF summary of sales activity in Orlando stretching back over the past 8 years.
I´ve put a download link at the bottom of this post, and if you look at the average sales figures for 2008, 2009 and 2010 – you can very clearly see prices declining very fast in 2008 and 2009
but holding extremely steady in 2010 (apart from a jump in Apr-June where people rushed to take advantage of an expiring tax credit).
For example, in January 2009 the average sales price was $190,243 which fell to $159,942 in December 2009. In contrast, the average sales price in January 2010 was $140,422 and the average sales
price in December 2010 was $146,582. In other words, average sales prices in Orlando actually increased last year.
It is also no coincidence that Orlando inventory levels are at their lowest level in almost 5 years. They peaked at 26,330 in Sept 2007 and didn´t fall below 20,000 until May 2009. Throughout
2010 they held steady between 15,000–16,000 which hasn´t happened since early 2006.
That is an enormous recovery by any standard and these numbers will continue to gently decline throughout 2011. Spanish housing ministers would be moved to weep and blubber
uncontrollably at numbers like these, but then again, they´ve probably better things to do than browse through the statistics page of the Orlando Realtors Association…
You can download the PDF containing all these housing numbers right here.
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