Orlando existing home sales rose 12 percent last year, compared to one year ago, Florida Realtors said on Thursday. Existing home sales also rose by 3 percent last month, compared to December 2009.
In 2010, a total of 26,808 homes sold in Orlando compared to 23,994 homes sold in 2009. The existing home median price for 2010 was $131,400; it was $144,600 in 2009 for a 9 percent decrease.
In Orlando’s condo market, a total of 8,563 units sold in 2010, a gain of 54 percent compared to 5,558 units sold in 2009. In Orlando, the existing condominium median price in 2010 was $50,400; it was $52,900 in 2009 for a 5 percent decrease.
Statewide in 2010, a total of 170,848 homes sold statewide compared to 162,873 homes sold in 2009. The statewide existing home median price for 2010 was $136,500; it was $142,500 in 2009 for a 4 percent decrease.
“It’s encouraging to close out the year for Florida’s housing market with increased sales activity,” said 2011 Florida Realtors President Patricia “Pat” S. Fitzgerald.
In December, 12 of Florida’s metropolitan statistical areas (MSAs) reported higher existing home sales and 14 MSAs reported higher existing condos sales.
In Florida’s condo market, a total of 72,050 units sold statewide in 2010, a gain of 29 percent compared to 55,900 units sold in 2009. Statewide existing condo sales activity in 2010 was up 90.6 percent over the 2008 sales level, records show. The statewide existing condo median price in 2010 was $91,300; it was $108,000 in 2009 for a 15 percent decrease.
In the year-to-year comparison for statewide existing condo sales, a total of 6,673 units changed hands last month, up 12 percent from the 5,955 condos sold in December 2009. The statewide existing condo median sales price in December was $88,100; in December ’09 it was $106,700 for a 17 percent decrease. The national median existing condo price was $165,300 in November, according to NAR.
Looking ahead to 2011, Fitzgerald said it is going to be a year of opportunity for buyers and sellers.
“Industry analysts report seeing steady economic improvements, including more jobs and stronger consumer confidence, which will have a positive, stabilizing impact on the housing market,” Fitzgerald said.
The latest industry outlook from the National Association of Realtors also offers positive predictions for 2011.
“Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable,” said NAR Chief Economist Lawrence Yun. “All the indicator trends are pointing to a gradual housing recovery.”
In December, the interest rate for a 30-year fixed-rate mortgage averaged 4.71 percent, down from the 4.93 percent average during the same month a year earlier, according to Freddie Mac.
