March 2013

February ‘figures’ From The Four Corners…

The Four Corners area inventory fell by 72 homes during February to revise the total number of homes listed for sale to 1099. This total by type comprised 82 bank owned homes and 164 short sales with the remaining 853 listings being normal owner listed homes.  Closed sales during the month were down by 4 sales from last month as 197 homes changed ownership at an average of 97% of the listed price after 152 days on the market. The February days on market figure was down 2 days from the January 154 day total. During last month 134 homes withdrew from the market having been unsuccessful in attracting a buyer whilst total inventory under offer/contract awaiting closure stood at 796 homes, up by 117 from the January 679 pipeline total. Februarys pace of sales compared against inventory total indicates a 5.5 month Four Corners inventory level.

Orlando…

The metro Orlando existing home market started 2013 positively with local Realtor association members reporting the median price of an existing Orlando area home to be $128,000 which was a 18.5% increase in comparison to the January 2012 $108,000 recorded figure but down 3.4% from the December 2012 median price of $132,500. The regions existing home inventory has continued a steady decline since its 16,563 peak back in July 2010. The number of homes listed for sale in the Orlando market last month recorded as 7,336, down 20.8% since the same time last year and representing a 3.8 month supply of available homes at the current sales pace. Association members reported 1,923 closings during January which was up 11.1% from January 2012 but down 23.2% from the December 2012 closings total. Orlando area condo sales were exactly the same in January 2013 as it last January recording a 287 unit total. Homes of all styles spent an average 81 days on the market before coming under contract in January with the average home selling for 95.9% of its listing price. In January 2012 those numbers were 96 days and 92.23% respectively.

Florida…

Statewide sales figures for the month report increased sales and higher median prices and lower inventory levels in January, according to the monthly housing data released by Florida Realtors®. Floridas closings of existing single family homes totaled 13,679 during January, up 11.7% from one year ago. Pending sales under contract but not yet completed were up 31% from last January with the statewide median sales price of an existing single family home up 12.4% from last year at $145,000. Floridas year on year comparison for townhome and condo sales reported 6,670 units selling last month, up 2% compared to January 2012. Single family home inventory recorded a 5.6 month supply in January whilst statewide inventory for townhomes and condos recorded a 6.2 month supply, according to Florida Realtors.

U.S…

Nationally existing home sales in the U.S. edged up in January according to the National Association of Realtors® with sales rising in every region except the West. Total existing home sales covering all home styles increased 0.4% to a seasonally adjusted annual rate of 4.92 million in January from a downwardly revised 4.90 million in December, and are 9.1% above the 4.51 million unit pace of January 2012. Total housing inventory at the end of January fell 4.9% to 1.74 million existing homes available for sale, which represents a 4.2 month supply at the current sales pace, down from 4.5 months in December. Nationally this figure now records the lowest level of housing supply since April 2005 when this stood at 4.2 months. The national median existing home price was $173,600 in January, up 12.3% from January 2012, which is the 11th consecutive month of year on year price increases. Distressed home sales across the nation covering foreclosures and short sales accounted for 23% of all January sales, down from 24% in December and 35% in January 2012. The median time on market for all homes  stood at 71 days in January, down from 73 days in December and 99 days in January 2012. Short sales spent an average 94 days on the market, while foreclosures typically sold in 47 days and normal owner related listings took on average 75 days. Single family home sales increased 0.2% to a seasonally adjusted annual rate of 4.34 million in January from 4.33 million in December, and are 8.5% above the 4.00 million unit level of January 2012. The median existing single family home price stood at $174,100, up 12.6% from one year ago. Existing condominium and co-op sales rose 1.8% to an annualised pace of 580,000 in January from 570,000 in December, and are 13.7% higher than the 510,000 unit level seen one year ago.

Closing Numbers…

February 28th 2013

1 G.B.P…Buys 1.516 U.S.D – 1 U.S.D…Buys 0.659 G.B.P

1 EURO…Buys 1.307 U.S.D – 1 U.S.D…Buys 0.764 EURO

1 CAN $…Buys 0.971 U.S.D – 1 U.S.D…Buys 1.028 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.