Central Florida Real Estate Market Update – July’09
With our sales still rising, our Central Florida real estate market is becoming more balanced between buyers and sellers. According to the Orlando Regional Realtor Association (ORRA), the monthly supply of housing inventory now reflects only an 8.37 month supply where a 6 month supply indicates equal balance between buyers and sellers. Spread the word, “It’s an incredible time to buy Central Florida real estate and time is running out for first time home buyers to take advantage of the government’s $8,000 1st Time Home Buyer Tax Credit!”
According to ORRA, the number of homes that sold in June 2009 outpaced the number of homes sold in June 2008 by nearly 43.12%. June 2008 sold 1,489 homes and June 2009 sold 2,131 homes. Our areas median price also rose for the first time in about two years. June’09 median price was $131,200. This was almost 1% higher than the previouse month for May’09.
Our ‘Pending’ sales increased again in June 2009 and are still going very strong with now 7,230 homes under contract. We are still experiencing over double the number of homes under contract than we did a year ago. This is more evidence of greater sales occurring in the coming months.
For a consecutive 5 months running, the number of homes for sale have now decreased by another 1,292 homes on the market compared to the previous month of May 2009 numbers. We are now 6,744 less homes on the market from this time last year. We are currently at 17,831 homes for sale in June 2009 compared to 24,575 homes for sale in June 2008. Single family homes make up 12,862 of the 17,831 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. Your business and referrals are extremely important to my business. 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.
