The real estate market in zip code 34787 which encompasses Winter Garden and Oakland has been showing signs of steady improvement. The number of homes for sale has dropped from 716 a year ago and 764 15 months ago to 663 homes as of November 2008 with the number of homes sold steadily increasing from 31 homes sold 12 months ago and 22 homes sold 15 months ago to 45 homes sold in November 2008. That means the number of homes for sale has dropped 13.2% and the number of sales increased 104.5% in the past 15 months. Not bad to say the least.
As expected, the average price per square foot has dropped from$143 a year ago to to $106 marking a 26.1% decline in the 15 month period. It is taking a little longer to sell though. The average days on market has increased 14.1% and currently stands at 105 days. The average price of homes sold as of November 2008 stands at $240,000 which is a 24.3% decline from the average sales price of $317,000 15 months ago. Inventory levels dropped 57.6% from 34.7 months of homes on the market to 14.7 months in the past 15 months.
I admit things don’t look rosy yet, but they’re definitely improving.