Here are the central Florida real estate statistics for the month of October 2007.
- The median home sales price
has held steady at  $235,000
for the second month
so far. - The median sales price
for October 2007
is only 7.4% below
that of October last
year ($253,745). - The year-to-date
median home sales
price ($246,150) is
a miniscule 0.75%
below last years price ($248,000).
Those statistics alone should
give buyers something to
think about. Home prices in
the general area are NOT in
the toilet, as some people (Definition: THE MEDIA)
would have you think in
central Florida. Yes, home SALES are on a slide, but home PRICES by and large are NOT falling off a cliff! - The number of single family home sales
in the central Florida area declined
by 45.5 percent in October 2007
compared to October of 2006. - October 2007 home sales INCREASED
over Sptember 2007 statistics, hows
THEM apples? - Year-to-date sales for 2007 (14,583 through October)
are down by 38.66 percent over the same period last
year (23,774). Why is that, do you think?
Something is wrong out there in the
central Florida real estate market;
what could it be? - From a year ago, gas prices have increased
over 30% to an average of $3.07 per gallon. - I remember when a gallon of milk was about
$3.25 a gallon; I just saw it at the grocery store
yesterday selling for $4.35. That is a 25% increase
in that price.
I am sure lots of prices have increased the debt to income ratios
of a LOT of would be buyers out there. There just is NOT a lot of
money out there to make those home purchases ~~~ That is what
I have been told by buyers all the time. - What if I told you I could find you down payment money
and money for those pesky closing costs on your first home? - What if I told you this is money you DO NOT have to pay
back either?
Here are more central Florida real estate statistics for thought: - The area's average interest rate on a mortgage was 6.21%
in October this year, which held steady from last month and
is a decline from the August average rate of 6.60 percent. Well, you can't say the interest rates
are too high anymore, right ~~ because
they just went down. When the median home price dropped to $235,000 in
September the area's affordability index improved by more
than seven percentage points to 92.5% over the last few
months. (An affordability index of 92.5 percent means that
buyers earning the state-reported median income are 7.5%
short of the income necessary to purchase a median-priced
home.) Buyers who earn the median income of $51,161 can
qualify to purchase one of 6,564 homes in Orange and
Seminole counties currently listed in the local multiple listing
service (MLS) for $217,375 or less. Many HUNDREDS of fantastic
townhouses, condos and villas fall into this catagory. 19,671 single-family homes are currently listed in the Orlando Florida MLS.
7,309 properties are listed in the $200,000 - $300,000 asking price range,
and 1,938 are listed in the $300,000 - $350,000 range.
Condos currently total 4,365 properties for sale in the MLS, while
duplexes/town homes/villas make up 2,294. There are around 704
condos priced at $200,000 to $250,000 and approximately 596
duplexes/town homes/villas priced in the $200,000 - $250,000 range.
Kinda makes you go, HMMMmmmm, right?
This informative and timely central Florida real estate
market report was brought to you by: Alexander J. Harb PSEM®, E-Agent®
The Knights Team Sales Leader Beach and Luxury Realty Inc. 
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13 comments • Chicago, Illinois homes for sale ---- Alexander Harb • November 28 2007 05:39PM
