Locally, our median sales price of existing homes rose 5.11% in September to $105,000. August's median price was $99,900. When you compare it to the same month a year ago, however, there was a 16% decrease, down from a median of $125,000.
When analyzed by type of sale, the "normal" sales median is $157,000, while the bank-owned sales median is $72,388. The median sales price for short sales is $110,000.
Closed sales were down about 3% in September from the same month in 2009. However, the good news is that our year to date sales are up nearly 32% through the end of September.
Marketwide, the number of days on the market for all types of homes before coming under contract was 88 days, and the average home sold for 95% of its final asking price. Interest rates decreased in September to 4.46%, which also helped with affordability.
Homes are very affordable currently. Buyers who earn the median income of about $53,000 can qualify to purchase 9,941 homes in Orange and Seminole counties currently listed in the local multiple listing service.
Now is a great time to buy a home, whether you're a first time buyer, or a move up buyer. Call me today to discuss any questions you may have about purchasing or selling a home. Call Amy at 407-252-7049.
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