November 'numericals' From The Four Corners…
Area sales increased in November as 265 homes changed hands across the communities tracked by Team Donovan. Overall inventory levels remain little changed as the month of November finished with a total 1137 listings available for sale. Homes that sold over the past month achieved an average 96.62% of the listed price having spent on average 158 days on the market. During the last month owners withdrew 71 homes from the market having been unable to attract a potential buyer. The total amount of homes recorded under offer/contract was down by 38 from last month to record a revised pending/under offer total of 855 homes. Based on the markets current sales pace divided by the overall inventory level would indicate a 4.2 month supply of available inventory.
Orlando…
Members of the Orlando Regional Realtors Association reported a 18.16% rise in existing single family home sales during October 2011 compared to October of 2010, which was this years largest month on month increase in sales of this home type. Orlandos overall home sales for October increased by 5.89% with the median price of an Orlando home reaching $112,700 which is up 7.33% from the October 2010 price of $105,000. Since January this year the overall Orlando median price has increased by 18.76%. The median price of a 'normal' closed sale in October stood at $153,000 with this type of sale accounting for 41.30% of all transactions. The lower median price of foreclosures and short sales comprising 58.70% of all sales continues to negatively influence overall prices with the median price of bank owned homes recording as $80,000 and the median for short sales $95,000. The overall total of sales relating to foreclosed homes declined 38.50% in October compared to the same time last year, while short sales and 'normal' sales both increased by 40.83% and 34.91% respectively. Homes of all types spent an average 106 days on the market before coming under contract with the average home selling for 94.66% of its listed price. In October 2010 those figures were 91 days and 94.67% respectively. Orlandos pace of sales reflect a 4.82 month supply of homes at the current sales pace with Orlando’s inventory increasing during October by 42 homes to finish at 9,973. Overall inventory levels are down 35.41% from October last year with pending sales up 1.36% at 8,937.
Sarasota…
October 2011 sales outpaced last October with 577 closings compared to 487 at the same time last year representing an 18.4% increase with overall sales totals expected to exceed last year. The inventory of available properties for sale in Sarasota increased in October to 4,525 from last month’s 4,430 level. The October 2011 median sales price for a single family home fell to $149,838 from last month’s $165,000 but was up slightly on last Octobers $147,500 figure. Condominium median prices have fluctuated for several months, and rose slightly in October to $143,000 from last month’s figure of $140,000. Last October this figure stood at $158,525. The months of inventory increased slightly from 6.7 months to 7.1 months for single family homes but fell considerably for condos, to 9.7 months from September’s 11.1 months. Sarasota pending sales awaiting closure increased to 772 from last months 723 figure. Last month, 585 single family homes and 187 condominiums went under offer/contract. Distressed property sales covering both foreclosure and short sales remained at 43% of the overall market which was unchanged on the September 2011 figure. The figure has been more stable this year and is considerably lower than the rate seen in the second quarter of 2010 when Bank related sales recorded over 51% of total sales.
Florida…
Floridas existing home and condo sales continued to show gains in October, according to the latest housing data released by Florida Realtors®. Existing home sales increased 13% last month with a total of 13,755 homes selling statewide compared to the 12,145 homes sold in October 2010, according to Florida Realtors. Seventeen of Floridas metropolitan statistical areas (MSAs) reported higher existing home sales in October with 12 MSAs seeing higher existing condo sales. The statewide median sales price for existing homes last month stood at $131,200 down 4% from last years $136,600 figure. In Floridas year on year condo comparison, 6,132 units sold statewide in October which was a 12% increase over the 5,473 units sold in October 2010. The statewide existing condo median sales price last month was $87,800 up 9% from last years figure of $80,500.
U.S …
Nationally existing home sales improved in October while the total number of homes on the market continued to decline, according to the National Association of Realtors®. Total existing home sales, which are completed transactions and include single family, townhomes, condominiums and co-ops, rose 1.4% to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.90 million in September, and are 13.5% above the 4.38 million unit level in October 2010. Total housing inventory at the end of October fell 2.2% to 3.33 million existing homes available for sale, which represents a 8.0 month supply at the current sales pace, down from the September 8.3 month supply. National inventories have been gradually trending downwards since setting a record high of 4.58 million recorded in July 2008. The national median existing home price for all housing types stood at $162,500 in October, which is down 4.7% from October 2010. Distressed home sales fell back to 28% of the overall sales total in October from 30% in September with cash buyers accounting for 29% of all October closings. By type single family home sales increased 1.6% to a seasonally adjusted annual rate of 4.38 million from 4.31 million in September which is 13.8% higher than the 3.85 million unit pace from one year ago. The median existing single family home price in October was $161,600, which is down 5.8% from October 2010. Existing condominium and co-op sales were unchanged at a seasonally adjusted annual rate of 590,000 which is 10.5% above the 534,000 unit level seen in October 2010. The median existing condo price was $160,300 in October, down 1.5% from a year ago. New home sales increased 1.3% last month to a seasonally adjusted annual rate of 307,000. However, this figure is less than half the 700,000 annual rate that experts believe is needed to sustain a housing recovery. The average price of a new home fell 0.5% during the month to $212,300.
Closing Numbers...
November 30th 2011
1 G.B.P…Buys 1.577 U.S.D - 1 U.S.D…Buys 0.634 G.B.P
1 EURO...Buys 1.346 U.S.D - 1 U.S.D…Buys 0.742 EURO
1 CAN $…Buys 0.984 U.S.D - 1 U.S.D…Buys 1.016 CAN $
U.S Prime Interest Rate = 0.25%
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