Hojin's SW Orlando Real Estate Scoop

Real Estate News for Dr. Phillips, Windermere, Gotha, Celebration, Winter Garden, Ocoee, Clermont, Metrowest

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Real Estate Market in Ocoee Making Headway Towards a Balanced Market

May 26th, 2008 · No Comments

The real estate market for 2008 in the zip code 34761 commonly known as the city of Ocoee looks to be coming into a balance with the average price of homes sold which stands at $277,000 and average price of homes for sale currently standing at $280,000 nearly identical. Sellers are becoming realistic about expectations on price here.

The average price per square foot has dropped to $117 per foot from $144 per foot a year ago showing a distinct trend towards a more realistic pricing.

Sellers have been getting 95% of their asking price so I expect the average price figure to come down in the coming months. No one likes to see their home’s value come down but it is needed to return to a balanced market.

One area of concern for the area is the average days on market currently stands at 146 days which is a bit on the lengthy side, but the 18.3 months of home inventory is better than most of Central Florida.

The trend in the Ocoee real estate market is a steady march towards a balanced market. It’s not there yet, but well on its way.

Tags: Market Statistics by Zip Code