Central Florida home inventory continues to decline, while the median home price increased for the fourth consecutive month to $120,000. Single family home inventory is down 28% as compared to April.
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Home inventory has decreased 30% compared to this time last year. Home inventory in Central Florida has drastically decreased by 65.5% since spring of 2007. While conventional home sales made up 40.48% of the market in March, 33% of sales were short sales, and 26.51% were foreclosure sales. The overall median home price climbed yet again, to $115,000. A 12% increase since March 2011.
Central Florida home inventory continues on the decline that began during the summer of 2010. Inventory has declined more than 30 percent since February 2011, while the median home price continues its upward trend and is now $110,000.
At the 2011 year-end, the Orlando Real Estate Market continued to gain strength. Median home prices increased 12% in December 2011. With an overall (year-end) median home price increase of 24%, since January 2011. Not since 2005 have median home prices increased at this pace.
The Orlando Real Estate Market continued to gain strength in November 2011. The median price of an Orlando home sale grew almost 10 percent, over last November, to $115,000. There has also been a 21 percent increase in the median price, since January 2011.
Homes prices in the Orlando area are continuing to be lowered. During the second quarter, Orlando experienced a forty percent drop in sales on single-family homes. The number of home sales dropped from 8,189 last year to 4,933 for the same time period this year. The average sale price has also dropped from $265,500 in the second quarter of 2006 to $253,800 for the same time this year.
Condo sales for Orlando have also dropped by sixty-one percent. During the second quarter of 2006 the figure was 1,456, compared to 572 for the same period of time this year. Average sale prices for these condos have also dropped from $163,500 in the second quarter of 2006 to $155,700 this year.
The entire state has experienced a decrease in single-family homes. During…
The local real estate market here in Orlando has been under a lot of scrutiny lately along with the majority of the US housing market. The headlines read "Orlando-area home sales drop 35% in April". While we cannot dispute this fact that the numbers are down but is the press giving this market a bad wrap?
In 1999 I was just getting into real estate sales. While taking my real estate classes I remember my instructor ranting about how great the Orlando real estate market was at the time. I do not recall negative press for the real estate market during that time. I went on to get my real estate license and never heard a whimper from anyone during my first few years about a bad market. Well as we all know from 2002 - 2006 the housing market in Orlando and…