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February 2013

January ‘reporting’ From The Four Corners…

The opening month of 2013 registered 201 home sales across the communities tracked by Team Donovan after an average of 154 days on the market with the average Four Corners home closing at 97% of its listed price. Overall inventory levels increased for the 8th consecutive month to revise the total number of homes listed for sale to 1171. By listing type Januarys inventory comprised 923 normal owner listings, 158 short sales and 90 bank owned homes. Although inventory levels have steadily increased over past months the total number of homes for sale remains little changed from the January 2012 recorded figure of 1167. The number of homes under contract awaiting closure across the communites stands at 679 which is down by 6 from last month. During January 141 homes withdrew from the market having been unable to attract a buyer. Januarys inventory when factored against sales pace indicates a 5.8 month supply, up 1.6 months from last months 4.2 month supply total.


Orlando realtors participated in 2,410 closings in December, an increase of 8.9% compared to December 2011 but a 5.86% decrease compared to November 2012.  Compared to December 2011 the 728 short sale total was down 10.1% whilst the foreclosure total of 492 remained the same. The number of normal traditional sales 1,190, was up 30.6% compared to last year. Homes of all types in Orlando spent an average 80 days on the market  and achieved 96.14% of their listed price. The Orlando December median price of $131,800 is 10.7% higher than the December 2011 $119,000 figure. All sale types experienced year on year increases in median price levels during December with the median price of a normal owner sale increasing 4.4% percent, while the median price of foreclosures increased 23.0% and short sales were up 2.8%.  The Orlando pending sales total currently stands at 7,883 which is down 2.62% from December 2011 and 10.9% lower than the November 2012 8,847 level. The total number of existing homes available for purchase now rests at 7,384 down 24.1% from December 2011. The inventory of single family homes is down by 27.8% compared to December of 2011, while condo inventory has decreased 3.49%. Condo sales have decreased by 4.5% from a year ago with 336 sales during December 2012. Orlando homebuyers purchased 215 duplexes, town homes and villas in December, which is a 3.59% decrease compared to December 2011.


Statewide closed sales of existing single family homes totaled 18,031 during December, up 15.8% compared to one year ago according to data from Florida Realtors Industry Data and Analysis department. Meanwhile, pending sales that await closure increased 39.7% from last December. The statewide median sales price for an existing single family home last month stood at $154,000, up 14.1% from the previous year. Floridas year on year comparison for townhome and condo sales records 8,470 units selling statewide in December, up 8.6% compared to December 2011. Meanwhile, the pending sales of townhomes and condos was up 31.8% from one year ago. The statewide median for townhouse and condo properties was $117,500, up 26.3% from the previous year. NAR reported that the national median existing condo price in November 2012 was $181,000. December was the 12th consecutive month of higher statewide median sales prices for both single family homes and for townhouse condo units year on year, according to Florida Realtors’ data. Floridas inventory of single family homes recorded a 5.5 month supply in December with inventory levels for townhouse and condominiums standing at a 6 months supply, according to Florida realtors.


Existing home sales fell in December but are up on levels of one year ago according to the National Association of Realtors® (NAR). Total sales during 2012 were at the highest level in five years, while the annual price increased by the most since 2005. Total existing home sales covering single family homes, townhomes, condominiums and co-ops declined 1% to a seasonally adjusted annual rate of 4.94 million in December from a downwardly revised 4.99 million in November, but are 12.8%  up on the 4.38 million unit level in December 2011. The preliminary annual total figure for existing home sales in 2012 was 4.65 million, up 9.2% from 4.26 million in 2011. Total housing inventory at the end of December fell 8.5% to 1.82 million existing homes available for sale, representing a 4.4 month supply at the current sales pace, down from 4.8 months in November. Listed inventory nationally is now 21.6% below one year ago when a 6.4 month supply was recorded. The national median existing home price for all housing types was $180,800 in December, up 11.5% from December 2011. Distressed home sales accounted for 24% of all December sales, up from 22% in November but below the 32% level seen in December 2011. The median time on market for all homes was 73 days, up from 70 days in November.  First time buyers accounted for 30% of all purchases last month, unchanged from November, they were 31% in December 2011. All cash sales made up 29% of December transactions, compared with 30% in November and 31% in December 2011. Single family home sales slipped 1.4% to a seasonally adjusted annual rate of 4.35 million from 4.41 million in November. The existing single family home median price was $180,300, up 10.9% from one year ago. Existing condominium and co-op sales rose 1.7% to an annualised level of 590,000 from 580,000 in November, and are 22.9% higher than the 480,000 unit level a year ago. The median existing condo price was $184,100, up 16.0% from December 2011.

Closing Numbers…

January 31st 2013

1 G.B.P…Buys 1.584 U.S.D – 1 U.S.D…Buys 0.631 G.B.P

1 EURO…Buys 1.358 U.S.D – 1 U.S.D…Buys 0.735 EURO

1 CAN $…Buys 1.000 U.S.D – 1 U.S.D…Buys 1.000 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.