Oviedo Real Estate Market Update for December 2014 

December 16, 2014 - The Orlando Regional Realtors' Association (ORRA) reported on December 15, 2014, “Declining interest rates and swelling inventory have contributed to another month of increased home sales in the Orlando area”. Home prices appreciated 6.5% year-over-year, and inventory increased to 5.4 months of supply. (5-7 months of inventory is considered a market balanced between buyers and sellers). 

Per ORRA, the affordability index* for November 2014 was 185%. The average mortgage interest rate was 4.01%, an 18-month low. Home buyers in Central Florida reporting a median income of $56,126 qualified to purchase 6,327 homes priced up to $305,800. 

See ORRA Real Estate Market Report for complete data and analysis. 

The average mortgage rate for November 2014 was 4.01%. Interest rates have been in the 4.01% to 4.57% range for the last 12 months. In 2012 and early 2013, interest rates were in the 3.25% - 3.50% range, the lowest in more than 40 years. 30-Year Fixed-Rate Mortgages Since 1971

The Oviedo real estate market, including homes in the 32766 ZIP Code in Chuluota, remains strong with 3.2 months of inventory. Median home prices are up 6.4% year-over-year and remain affordable with a median sale price of $250,000 over the last 90 days. 

There are currently 252 single family homes listed for sale in Oviedo and Chuluota, listed at a median price of $275,000. To see all the homes currently for sale in Oviedo, see Oviedo Homes for Sale

In Oviedo and Chuluota, ZIP Codes 32765 and 32766, 234 single family homes were bought and sold in the most recent 90 days as reported by the My Florida Regional MLS (MFR MLS). The median sale price was $250,000. Median days to contract and close was 40 and 83, respectively. During the same period of 2013, 228 single family homes sold for a median price of $235,000. 

Of the 234 homes sold, 178 (76.1%) of them were “normal” sales (neither short sales nor bank owned) with a median price of $265,000. They took 36 days to go under contract and 78 days to close. 

Short sales accounted for 12 (5.1%) of homes sold. Median sale price was $239,900 and median days to contract and close, from the day they were put on the market was 69 and 235, respectively. The median contract to close time frame for short sales was 5.5 months.

There were 44 (18.8%) bank owned homes, sometimes called REO or foreclosures, sold in the last 90 days. The median sold price was $205,000 and median days to contract and close was 44 and 90, respectively.

For all our current listings, see Jean's Current Listings.

For homes under contract and sold since 2012, see TomScottPhotography.com/RealEstate.  

*An affordability Index of 99% means a family with median income earns 1% less than they need to be able to purchase a median priced home. 


Live Oak Reserve Real Estate Market Update for November 2014

December 2, 2014 - Live Oak Reserve is one of the Oviedo area’s premier communities. Designed and mostly built by Engle Homes, it’s well designed with homes that are architecturally pleasing and well built.

This video, first produced by Engle Homes in 2009 highlights some of the community amenities that includes a pool, tennis and basketball courts, and baseball and football fields.

The Greater Orlando real estate market moved from 5.3 months of inventory in August 2014 to 4.5 months last month, as reported by the Orlando Regional Realtors’ Association. For more details on Oviedo and the Central Florida Market, see the latest Oviedo Real Estate Market Update just below.

In Live Oak Reserve, there are 9 homes currently listed for sale, as reported in the My Florida Regional MLS (MFR MLS), 7 are under contract, and 16 have sold in the most recent 120 days. The inventory in Live Oak Reserve remains fairly tight at 2.3 months, a very strong sellers’ market. (A market considered to be balanced between buyers and sellers has 5-7 months of inventory).

Median price for the 9 homes currently listed for sale in is $429,000 and $133.69 per heated square foot with a range* of $112.20 and $159.83. Median days on the market is 35. Considering days-on-market for some of the homes currently, turnover, and median days to contract, detailed below, some of these homes are likely overpriced. To see homes in Live Oak Reserve currently on the market, and to search any Central Florida community with MLS data updated throughout the day, see http://Homes.LiveOakReserve.us.

Median price for the 16 homes sold in the last most recent 120 days was $375,000 and $131.62 per heated square foot, with a range* of $97.47 and $131.50. Median days on the market, also known as days to contract, was 8 and median days to close was 58.

For all the details of home currently on the market, under contract, and sold in the last 120 days as reported by the MFR MLS, see http://Stats.LiveOakReserve.us.

*Price per heated square foot of homes sold most comparable to yours and most recently sold is only a starting point in determining value. Age and size of the home, lot size and view, condition, and other factors can significantly affect value.

For all our current listings, see http://JeanScottHomes.com.

For all Jean’s current listings, homes under contract, and sold since 2012, and to see how we would feature your home online, with professional quality staging and photos, see http://Photos.JeanScottHomes.com.

Are you thinking about selling? We can help you determine the most likely selling price of your home and tell you how to bring out the most value for buyers. Just call us at 407-765-2912 see http://Sell.JeanScottHomes.com.  


Oviedo Real Estate Market Update for November 2014 

November 22, 2014 - The Orlando Regional Realtors' Association (ORRA) reported on November 17, 2014 that for Orlando, the number of home sales had increased by 18.0% as compared to last year, home prices appreciated 3.9% year-over-year, and inventory remained steady at 4.5 months of supply. (5-7 months of inventory is considered a market balanced between buyers and sellers). 

Per ORRA, the affordability index* for November 2014 increased to 190%. That was primarily due to the average mortgage interest rate dropping 4.05%, a 12 month low. Home buyers in Central Florida reporting a median income of $56,069 qualified to purchase 6,352 homes priced up to $304,000.

See ORRA Real Estate Market Report for complete data and analysis. 

The average mortgage rate for October 2014 was 4.05%. Interest rates have been in the 4.05% to 4.57% range for the last 12 months. In 2012 and early 2013, interest rates were in the 3.25% - 3.50% range, the lowest in more than 40 years. 30-Year Fixed-Rate Mortgages Since 1971. 

The Oviedo real estate market, including homes in the 32766 ZIP Code in Chuluota, remains strong with 3.2 months of inventory. Homes appreciated 1.6% year-over-year and remain affordable with a median sale price of $252,900 over the last 90 days. 

There are currently 253 single family homes listed for sale in Oviedo and Chuluota, listed at a median price of $270,000. To see all the homes currently for sale in Oviedo, see Oviedo Homes for Sale. 

In Oviedo and Chuluota, ZIP Codes 32765 and 32766, 238 single family homes were bought and sold in the most recent 90 days as reported by the My Florida Regional MLS (MFR MLS). The median sale price was $252,900. Median days to contract and close was 35 and 77, respectively. During the same period of 2013, 229 single family homes sold for a median price of $249,000. 

Of the 238 homes sold, 186 (78.2%) of them were “normal” sales (neither short sales nor bank owned) with a median price of $262,000. They took 33 days to go under contract and 69 days to close. 

Short sales accounted for 11 (4.6%) of homes sold. Median sale price was $245,000 and median days to contract and close, from the day they were put on the market was 69 and 140, respectively. The median contract to close time frame for short sales was 2.4 months.

There were 41 (17.2%) bank owned homes, sometimes called REO or foreclosures, sold in the last 90 days. The median sold price was $219,900 and median days to contract and close was 48 and 90, respectively.

For all our current listings, see Jean's Current Listings.

For homes under contract and sold since 2012, see TomScottPhotography.com/RealEstate.  

*An affordability Index of 99% means a family with median income earns 1% less than they need to be able to purchase a median priced home.


 Live Oak Reserve Real Estate Market Update for October 2014

   

October 17, 2014 - Live Oak Reserve is one of the Oviedo area’s premier communities. Mostly planned and built by Engle Homes, it is well designed with homes that are architecturally pleasing and well built. Community amenities include a pool, gym, tennis and basketball courts, and a baseball and football field. Only Live Oak Reserve and neighboring Riverside are zoned for all three reputable schools, Partin Elementary, Lawton Chiles Middle, and Hagerty High School. 

With only 1.3 months of inventory, homes Live Oak Reserve remain in high demand. (A market considered to be balanced between buyers and sellers has 5-7 months of inventory). The Greater Orlando real estate market moved from 5.3 months of inventory in August 2014 to 4.5 months last month, as reported by the Orlando Regional Realtors’ Association. For more details on Oviedo and the Central Florida Market, see the latest Oviedo Real Estate Market Update just above. 

In Live Oak Reserve, there are 7 homes currently listed for sale, as reported in the My Florida Regional MLS (MFR MLS), 5 are under contract, and 22 have sold in the most recent 120 days. The inventory in Live Oak Reserve remains extremely tight at 1.3 months, a very strong sellers’ market. 

Median price for the 7 homes currently listed for sale in Live Oak Reserve is $436,000 and $131.02 per heated square foot with a range* of $118.10 and $151.36. Median days on the market is 56. Based just on days-on-market and inventory statistics, these homes are likely overpriced. To see homes in Live Oak Reserve currently on the market, and to search any Central Florida community with MLS data updated throughout the day, see Live Oak Reserve Homes for Sale. 

Median price for the 22 homes sold in the last most recent 120 days in Live Oak Reserve was $379,900 and $134.67 per heated square foot, with a range* of $97.47 and $203.33. Median days on the market, also known as days to contract, was 7 and median days to close was 58. 

For all the details of homes currently on the market, under contract, and sold in the last 120 days as reported by the MFR MLS, see “Live Oak Reserve - Active, Under Contract, and Sold in the Last 120 Days”. (Safe link and PDF download. Promise).  

*Price per heated square foot of homes sold most comparable to yours and most recently sold is only a starting point in determining value. Age and size of the home, lot size and view, condition, and other factors can significantly affect value. 

For all our current listings, see Jean's Current Listings. 

For all Jean’s current listings, homes under contract, and sold since 2012, and to see how we would feature your home online, with professional quality staging and photos, see TomScottPhotography.com/RealEstate. 

Are you thinking about selling? We can help you determine the most likely selling price of your home and will tell you how to bring out the most value for buyers. Just call us at 407-765-2912 or see Jean Scott, Realtor®. 


 Oviedo Real Estate Market Update for October 2014

October 17, 2014 - The Orlando Regional Realtors' Association (ORRA) reported on October 15, 2014 that the number of home sales has increased by 10.9% as compared to last year, home prices appreciated 7.4% year-over-year, and inventory decreased to 4.5 months of supply. (5-7 months of inventory is considered a market balanced between buyers and sellers).

Per ORRA, the affordability index* for September 2014 was 178%, about what it has been over the last 12 months. Homes remain affordable due to low interest rates and values still recovering from the 2009 bottom. Home buyers in Central Florida reporting a median income of $56,012 qualified to purchase 6,135 homes priced up to $298,300. For complete data and analysis, see ORRA Real Estate Market Report.

This video published October 14, 2014 will hit the highlights of September's market data. 

The average mortgage rate for August 2014 remained virtually unchanged at 4.20%. Interest rates have been in the 4.16% to 4.57% range for the last 12 months. In 2012 and early 2013, interest rates were the lowest in more than 40 years, in the 3.25% - 3.50%. 30-Year Fixed-Rate Mortgages Since 1971.

The Oviedo real estate market, including homes in the 32766 ZIP Code in Chuluota, remains strong with 3.3 months of inventory and continued appreciation at 12.5% year-over-year. However, homes remain affordable with a median sale price of $269,900 over the last 90 days.

There are currently 268 single family homes listed for sale in Oviedo and Chuluota, listed at a median price of $276,500, and representing a 3.3 month supply. To see all the homes currently for sale in Oviedo, see Oviedo Homes for Sale.

In Oviedo and Chuluota, ZIP Codes 32765 and 32766, 245 single family homes were bought and sold in the most recent 90 days as reported by the My Florida Regional MLS (MFR MLS). The median sale price was $269,900. Median days to contract and close was 33 and 71, respectively. During the same period of 2013, 250 single family homes sold for a median price of $240,000.

For the last 90 days, 197 (80.4%) of the homes sold were “normal” sales with a median price of $279,900. They took 26 days to go under contract and 65 days to close, remaining steady and in tight range over the last several years.

Short sales accounted for 12 (4.9%) of homes sold. Median sale price was $210,000 and median days to contract and close, from the day they were put on the market was 73 and 187, respectively. The median contract to close time frame for short sales was 3.8 months.

There were 36 (14.7%) bank owned homes, sometimes called REO or foreclosures, sold in the last 90 days. The median sold price was $230,000 and median days to contract and close was 64 and 111, respectively.

For all our current listings, see Jean's Current Listings.

For all Jean’s current listings, homes under contract, and sold since 2012, and to see how we would feature your home online, with professional quality staging and photos, see TomScottPhotography.com/RealEstate.  

*An affordability Index of 99% means a family with median income earns 1% less than they need to be able to purchase a median priced home.