December 2011 and Year-end Housing Market – Talking Points


*Orlando home sales (all home types combined) in December 2011 were down 13.86 percent over December 2010.
*Single-family home sales in the Orlando area decreased by 7.78 percent in December when compared to December of last year. Condo sales decreased by 35.62 percent; duplex, town home, and villa sales decreased by 9.44 percent.
*Of the 2,125 sales in December, 871 "normal” sales accounted for 40.99 percent of all sales, while 469 bank-owned and 785 short sales respectively made up 22.07 percent and 36.94 percent.
*The number of "normal” sales in December increased by 14.15 percent over December 2010, while short-sales increased 24.41 percent and foreclosures dropped 56.29 percent.
*The 8,095 homes pending closing in December of this year is a decrease of 3.2 percent compared to the 8,363 pendings in December of last year.
*Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in December were down by 10.30 percent when compared to December of 2010. For all of 2011, sales in the MSA are down 1.34 percent.
*The sales comparison for each county’s within the Orlando MSA are as follows:
  • Lake: 4.63 percent above December 2010 (384 homes sold in December 2011 compared to 367 in December 2010);
  • Orange: 14.96 percent below December 2010 (1,359 homes sold in December 2011 compared to 1,598 in December 2010);
  • Osceola: 12.87 percent below December 2010 (467 homes sold in December 2011 compared to 536 in December 2010); and
  • Seminole: 3.98 percent below December 2010 (507 sold in December 2011 compared to 528 in December 2010).
Median Price:

*The median price of all existing homes combined sold in December 2011, $118,000, is a 12.38 percent increase from the $105,000 median price recorded in December 2010.
*The median price for "normal” existing homes sold in December is $159,000, a decrease of 0.06 percent from the median price of "normal” existing homes in December 2010. The median price for bank-owned sales is $80,000 and the median price for short sales is $105,000.