November ‘numbers' At The Four Corners…
The overall total of homes listed for sale across the communities tracked by Team Donovan was little changed in November with a total 1022 homes active listings. By type these listings comprised 810 normal owner homes, 143 short sales and 69 Bank owned properties. The November figures report that 209 homes changed hands during the month, down 14 from the 223 October sold total. A November sold home on average achieved 97.12% of its listed price having spent at period of 155 days on the market. The accumulated sales pipeline of homes under offer/contract awaiting closure was down overall by 7 homes from last month to record a revised pipeline of 711 homes. During November owners instructed the withdrawal of 134 homes from the market having failed to attract an interested buyer during the listed term. The November pace of sales measured against current total inventory suggests a 4.88 month supply of available homes which is up slightly on the October 4.60 month pace figure.
Orlando…
The total number of existing homes available for purchase in Orlando stands at 8,094 representing a 18.8% reduction from the same time last year with single family home inventory down 21.49% from October 2011, while condo inventory is down by 3.57%. An Orlando home now averages 79 days on the market which is 25.4% down on the 106 day listed period average of October 2011. Overall Orlando area sales are up 14% year on year with a 30% increase in the total number of normal sales transactions. The Orlando median price has increased 9.24% over the past 12 months to $122,900, from the October 2011 median price of $112,500. Sales of all types experienced median sales price increases during October with the median price of normal sales up 4.61%, foreclosures up by 8.44% and short sales up 7.37%. Orlando Realtors participated in a total 2,434 sales during October which was 14.1% up on last October and a 6.0% increase compared to September 2012. Homes of all types in Orlando now sell at an average 96.29% of the final listed price. Orlando area pending sales awaiting closure currently total 9,252 which is 3.52% higher than last year and 0.17% lower than the September 2012 total of 9,268. Octobers condo sales increased by 2.33% compared to October 2011 with the highest volume of condo sales by price category in the $1 - $50,000 price range accounting for 28.41% of all Orlando condo sales.
Florida…
Statewide sales of existing single family homes totaled 17,779 in October, up 25.3% from one year ago whilst the pending sales of existing single family homes was up 56.7% from last October. The statewide median sales price of a Florida existing single family home in October was $145,000, up 9% from one year ago. The Florida year on year sales comparison for townhome and condo closings recorded 8,252 units selling statewide last month, up 16.4% from October 2011 whilst pending sales for condos and townhomes increased 47.1% from one year ago. The statewide median price for a townhome and condo property now stands at $107,000, up 20.2% from the previous year. Statewide inventory for single family homes stands at a 5.2 month supply with townhome and condo inventory at a 5.2 month supply.
U.S …
The Nations total existing home sales increased in October, even with some regional impact experienced from Hurricane Sandy, while home prices in some areas rising due to overall lower inventory levels, according to the National Association of Realtors® (NAR). Total existing home sales covering all types and styles rose 2.1% to a seasonally adjusted annual rate of 4.79 million in October from a downwardly revised 4.69 million in September, and are 10.9% above the 4.32 million unit level seen in October 2011. The national median existing home price for all types stood at $178,600, which is 11.1% up from one year ago. The continuing sale of foreclosures and short sales continue to sell at deep discounts and accounted for 24% of all October sales (12% foreclosures and 12% short sales). Nationally foreclosures currently sell at an average 20% discount while short sales discount at an average 14%. Total housing inventory at the end of October fell 1.4% to 2.14 million existing homes available for sale which represents a 5.4 month supply at the current sales pace. Listed inventory nationally is now 21.9% down from one year ago when figures recorded a 7.6 month supply. The median time on market for a U.S home was 71 days in October, little changed from the 70 day figure in September. In a separate finding during the month a Commerce Department report showed that builders broke ground on new homes in October at a seasonally adjusted annual rate of 894,000. Single family home construction fell 0.2% to an annual rate of 594,000 whilst apartment construction increased by 10%. Applications for building permits which offer an insight into future construction fell 2.7% to 866,000, after jumping 12% in September to a four year high. Permit applications to build single family homes rose to the highest level since July 2008. Housing starts are 87% above the annual rate of 478,000 in April 2009, the recession low. That is still considerably short of the 1.5 million annual rate considered healthy by many industry observers.
Closing Numbers...
November 30th 2012
1 G.B.P…Buys 1.601 U.S.D - 1 U.S.D…Buys 0.624 G.B.P
1 EURO...Buys 1.299 U.S.D - 1 U.S.D…Buys 0.769 EURO
1 CAN $…Buys 1.006 U.S.D - 1 U.S.D…Buys 0.993 CAN $
U.S Prime Interest Rate = 0.25%
Team Donovan publish an updated monthly report on the 1st of each month for the benefit of Worldwide Florida absentee owners. If you are considering selling your own property now or in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your own home in more detail.
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