The Oviedo Market
According to the My Florida Regional MLS (MFR MLS), there are currently 210 single family homes listed for sale in Oviedo and Chuluota, listed at a median price of $407,000. To see all the homes currently for sale in Oviedo priced between $250,000 and $500,000, see our listings.
Per MFR MLS, 420 single family homes were bought and sold in Oviedo and Chuluota (32765 & 32766) in the most recent 90 days. Inventory for the Oviedo real estate market, including homes in 32766 in Chuluota, has decreased to 1.5 months from 1.7 months reported in July. We are in a very strong sellers’ market. (See https://www.jeanscotthomes.com/orlando-home-prices/ for details on the Orlando market). Homes that are in good conditions and priced correctly are going under contract quickly, especially in the $250,000 – $350,000 price range.
The median sale price for homes sold was $300,00. Median days to contract and close was 18 and 66 respectively. Contract-to-close time was 48 days. For the same period last year, 397 single family homes were bought and sold for a median price of $320,000. The median sale price for homes in Oviedo increased by 3.2% over last year.
Of the 397 homes sold, 371 (93.4%) were “normal” sales (neither short sales nor bank owned) with a median price of $320,000. They took 13 days to go under contract and 56 days to close. To compare, in 2012, only 52.4% of home sales were normal sales, with 48.6% being short sales or bank owned.
There were 9 (2.3%) short sales. Median sale price was $251,750 and median days to contract and close, from the day they were put on the market, was 108 and 268, respectively. Contract-to-close time was an average of 5.3 months, slightly above the historic 3-5 month range.
There were 17 (4.3%) bank owned home sales, also known as foreclosures or REOs in the last 90 days. The median sold price was $291,000 and median days to contract and close was 41 and 73, respectively.
If you have any questions about the current housing market and how that affects your home’s value or your ability purchase a home, please give us a call at 407-765-2912. We would be glad to help you with that.
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