Hojin’s Southwest Orlando Real Estate Scoop

The real estate market in Orange County mirrors the improvements shown in the Orlando MSA with the number of sales increasing and declining inventory. It’s just what the doctor ordered. I sure hope this trend continues.

Probably the best news is that the inventory is less than a year now and currently stands at 11.9 months. We’ve been hovering around the 2 year mark for quite some time so nearly a 50% drop in inventory means we’re well on our way to recovery.

The number of sales are show improvement as well. It’s increased 46% in the first quarter of 2009 with 1,145 sales in March.

The activity is certainly going up, but pricing is going in the opposite direction and sellers are getting about 93% of their asking price. Hey, at least they’re selling… it’s a hell of a lot better than last year.

All in all, I’m glad to see the strides toward recovery. I just hope we keep moving this direction.

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