STATS SHOTS Orlando ranks last (yay!) on national affordability list Here's a list where we're happy to land at the bottom: "The Salary You Need To Buy A House In 12 Major American Cities." Citing statistical data from the mortgage website HSH.com, Town&Countrymag.com compared Orlando to cities such as San Francisco, Boston, and New York in terms of the salary required to qualify for a mortgage and purchase a median priced home in each area. Town&Countrymag.com states that the median cost of a home in Orlando is about $201,200, meaning a salary of $47,500 a year would allow a buyer to comfortably afford a home. In San Francisco, meanwhile, the median home price comes in at $809,400, and buyers would need to make a salary of $153,000 to afford a home at that price. Median Home Price Median Salary Needed San Francisco $809,400 $153,000 Los Angeles $506,800 $99,500 Boston $449,000 $93,000 New York City $410,500 $91,500 Washington, DC $388,600 $82,000 Seattle $386,300 $79,000 Denver $353,000 $70,000 Portland $319,300 $66,500 Chicago $229,300 $61,500 Philadelphia $243,700 $55,500 Minneapolis $288,700 $51,500 Orlando $201,200 $47,500 Condo and townhome sales on the rise as Orlando inventory drops Orlando’s condos and townhomes are on a tear! The general upward trends in sales and median prices of these home types can be attributed both to the lack of single-family inventory (especially under $300,000) and to the appeal that condo locations (downtown in particular) hold for millennials. Naturally, there’s been a corresponding drop in the inventory of condos and townhomes. Condos – Year to Date Sales g 12% Median Price g 15% Inventory f26% Townhomes – Year to Date (including villas and duplexes) Sales g 10% Median Price g 9% Inventory f 13% Social media sparks interest in the vast majority of REALTORS® Nearly 75 percent of REALTORS® participate in social media for the medium’s potential to increase awareness, according to the 2017 REALTOR® Social 75% and Digital Media Report. Additional key findings include: • 76 percent cite e-mail as the most effective form of digital media; • 65 percent plan to dedicate more time to digital media in the future; and • 60 percent plan to spend more money on digital media marketing next year. REALTORS® surveyed indicated that market activity receives the best engagement on social media, followed by listings and home improvement tips. School information sees the least amount of engagement. orlandorealtors.org 5
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