The Orlando Regional Realtor Association released their latest stats for the real estate market here in Orlando today and this past month shows a continuation of the improvement that we’ve been seeing throughout 2009.
The number of sales have been on the rise with inventory levels dropping which is what I’ve been looking for a long time. We’re currently at about a year’s worth of inventory and that’s not too far off from a normal level which is around 6 to 7 months. It’s a heck of a lot better than the 2 years worth of inventory we saw in 2007 and 2008.
We saw 1,741 sales, 3,412 new contracts, and 5,818 homes under contract for April 2009. There’s still 20,194 homes on the market, but this number should improve as long as the number of sales remain at the current pace.