Orlando continues to boast a vibrant, consistent market. The month of June hosted some higher numbers than months before.
Overall, in Orange County, 1,362 Homes were sold. That is more than the month of May(1,262) Or April (1,217).
Of those 1,362 homes, the most were in the $200,000-$249,000 range(233). 113 of those 233 homes sold in that range were four bedrooms, 111 were three bedrooms. Another number of note were the four bedroom homes that were sold in the $250,000-$299,000 range(127) outpaced all other price ranges.
It is interesting to note that sales of high luxury homes over 1 million have taken a slight dip as of late. In April, 32 $1million plus homes sold, while in May, that number was 28(-4). For the month of June, 26(-2) million plus homes sold.
The largest gains from May to June were in the $400,000-$499,000(+24) range, selling 97 in May, and 121 in June. The second largest gain was the $300,000-$399,000(+21) range from May to June, selling 105 in May and 126 in June.
Of all homes sold, 698 were sold within 30 days of being listed, which is more than any other category combined. In the 31-60 day range, 263 were sold, and 144 in the 61-90 range.
Of the homes purchased, 561 of them were purchased using new conventional financing, while 287 were purchased with new FHA, and 380 were all cash.
While these numbers indicate that Orlando's market remains strong, it is important to note that interest rates have crept up slightly, and that trend is expected to continue. Given the massive changes right around the corner in the Mortgage/Lending industry with new RESPA regulations, it will be interesting to see how this, coupled with the international turmoil, will affect the numbers in our community. It is already known that mortgages will take longer to underwrite, but it is yet slightly unclear how this combination will impact us in Central Florida.