The Orlando Regional Realtor Association released the latest statistics for the real estate market in Orlando today and not a whole lot has changed. The number of closed sales and properties under contract actually dipped a little in July 2008 and the dag gone inventory saw a little tick up.
The inventory is such a crucial element to our recovery and it doesn’t seem to be moving a whole lot. Something has got to give for our market to improve, either fewer new listings or more sales. I’d love to have both, but I’d settle for either one.
For the month of July in 2008, some of the key stats for housing in Orlando were as follows:
- average days on market = 117 days
- sales closed = 1,436
- withdrawn properties = 1,657
- expired properties = 1,661
- properties under contract =3,258
- new contracts = 1,947
- new listings = 4,388
- inventory of homes for sale = 24,472
- average price of a home = $263,800
- median price of a home = $207,500