The Central Florida real estate market is still 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 7.74 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 August 2009 outpaced the number of homes sold in August 2008 by over 65%. August 2008 sold 1,280 homes and August 2009 sold 2,112 homes. The median price for the area drop slightly by 3.76% compared to previous month of July’09, however, the majority of that price drop is indicative of the sales of bank owned properties and distress properties. The homes that sold as a normal sale stayed the same at a median price of $165,000.
Our ‘Pending’ sales increased again in August 2009 and are still going very strong with now 8,237 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 7 months running, the number of homes for sale have now decreased by another 870 homes on the market compared to the previous month numbers. We are now 8,473 less homes on the market from this time last year. We are currently at 16,361 homes for sale in August 2009 compared to 24,834 homes for sale in August 2008. Single family homes make up 11,910 of the 16,361 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.
Beautiful brick home with nice large lot, large back patio 27X13 screened-in for taking advantage of relaxing and evenings of entertaining overlooking the lake. Go fishing off your own dock. Minutes to highway for all your shopping and travel time to beach. Fenced-in yard. Interior consist of double sided brick fireplace from dinning room and family room, nice wood ceiling fans, stainless steel appliances, large 17X17 inch tile throughout house, wood cabinets in kitchen, separate laundry room with front end washer and a dryer, also an out building for storage if you want, master bathroom has double sinks, bonus room added to master bedroom 17X13. Please contact listing agent, James Ting at 407-416-2845.
