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The median sales price of all homes sold in the Orlando area increased to $106,000 in December from the $105,000 median price that had held steady since September. The current median price is 6% above the $99,900 median price recorded in August 2010 (the year’s lowest). However, it is over 11% below the median price of $120,000 recorded in December 2009.
The median price for “normal” existing homes – i.e., those that are neither a short sale nor a foreclosure – sold in December is $160,000. The median price for bank-owned sales is $75,000 and the median price for short sales is $100,000. The lower median prices of bank-owned and short sales, which accounted for almost 69% of all sales in December, continued to exert a downward influence on the overall median price of $106,000.
The cumulative median price for 2010 fell 16% to $108,900 compared to 2009’s $130,000.
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