For the last two months, the central Florida real estate
market has been SMOKING!!
- Sales in Osceola County jumped 47.26% in
October 2008 compared to October 2007 - Last month, the comparison increase was
a whopping 77.38% for Osceola County. - Throughout the entire central Florida area,
Orlando Regional Realtor® Association
members were involved in the sale of 10%
more homes in October of this year than
in October 2007: 1,199 to 1,090. - Here is ANOTHER AWESOME FACT ==> Median
sales prices of homes sold in October declined
by over 24% to $178,000 when compared with
October 2007's $235,000 median price. -
The number of pending sales, considered to
be a reliable predicator of future sales activity,
continued its upward trend to 3,316 transactions. -
There are over 72% more homes under contract
this month than compared to October last year
(1,923), and those expected closings are
anticipated to continue shortening the current
year-to-date sales gap of -16% by years end. -
There are currently 24,657 homes available for
purchase through the Orlando Florida area MLS.
Inventory decreased by 33 homes from October.
Compared to last year, the October 2008 inventory level is over 6% lower than it was in October 2007 (26,330). -
Altogether, inventory months-of-supply has declined a WHOPPING 65% since January 2008.
-
Sales of existing homes within the central Florida real estate market (Lake, Orange, Osceola, and Seminole counties) in October were up by over 15% when compared to October 2007.
So, what does all this GOOD news mean?
- Decreasing prices of homes on the market!
- Increasing sales from people buying GREAT deals!
- Lower inventory of homes for sale in the central Florida area.
- Lower time to sell for homes just coming on the market.
You put it together....to me it means it is TIME
to purchase a central Florida home!
This post about the central Florida real estate
market and its trends is brought to you by:
Alexander Harb PSEM®, E-Agent®
The Knights Team Sales Leader
Beach and Luxury Realty Inc.
Alexander Harb -- PSEM®, E-Agent®
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Alexander,
That's good news! Let's hope that Central Florida is at the center of the real estate market rebound nationally...! Thanks, Fran
Fran 'The Title Man' Gaspari Title Insurance-PA & NJ (Patriot Land Transfer, Inc.) Actually this market rebound has been happening for the last several months...... lets hope a LOT of other states follow suit in getting those homes that have lost value sold!!