Central Florida Real Estate Market Update – Mar’09
The Central Florida real estate market receives more good news in it’s monthly housing sales according to the Orlando Regional Realtor Association’s (ORRA) latest monthly statistics. Once again, the number of homes that sold in February 2009 outpaced the number of homes sold in February 2008 by a little over 28%. February 2008 sold 951 homes and February 2009 sold 1,219 homes. It’s getting hot out there! With our areas median price dropping yet again to $145,500 and interest rates dropping yet again to 5% or below and along with the incentive of the $8,000 tax credit for first time home buyers, we are set and ready to gain even more sales in the coming months. Spread the word: “It’s a great time to buy!”
ORRA stats show that February 2009 median price is now 34.75% below February 2008 median price. Our ‘Pending’ sales increased again in February 2009 and are still going very strong with 4,348 homes under contract which represents over double the number of homes under contract in February 2009 than in February 2008 with only 2,175.
Another positive note for February’s numbers is that we decreased by 445 homes on the market compared to the previous month of January 2009 numbers. we are still 3,000 less homes on the market in February 2009 than in February 2008. We are currently at 22,168 homes for sale in February 2009 compared to 25,984 homes for sale in February 2008. Single family homes make up 16,057 of the 22,168 homes on the market, while the remaining numbers are comprised of condos, duplexes, town homes and villas. Click Here to visit ORRA’s web site for even more stats. Please do not hesitate to contact me if you or someone you know is interested in buying or selling real estate in the Central Florida area.
