The real estate market statistics through March 2008 for the 32837 zip code which encompasses the Hunters Creek and Southchase areas show some signs of improvement with the steady increase in number of sales the past 4 months. I know you’ve been hearing the market sucks, but the numbers don’t lie. We’re not in a good market yet, but we’re starting to head in that direction. At least I’d like to think so.
The average days on market statistic has been jumping around a bit, but the current number of 133 days is much longer than the average for Orlando which currently stands around 90 days. I do like the steady downward trend in average price per square foot. I know most homeowners don’t like to see this, but I believe this needs to happen for the market to stabilize.
The supply of homes on the market which currently stands at over 26 months needs to come down in order for stabilization to take place. Leave it to me to point out the obvious, but there’s a heck of lot more sellers out there than buyers. The pareto-optimal limit would probably stand at about a 6 month supply. I hope we get there soon.