It appears the Orlando real estate market is stabilizing according to the numbers released this week by the Orlando Regional Realtor Association. The inventory currently sits at 8 months and the number of sales have doubled since January of this year.
I’m still trying to ignore the stats for the new contracts and under contract because I feel it’s skewed by the high number of short sales which remain under contract for months on end. In any case, these numbers look good with 7,230 properties under contract and 3,686 new contracts.
A stable market in Orlando typically sees 6 to 7 months of inventory so we’re dang close to reaching it if we’re not there already. I just can’t figure out how the foreclosure story is affecting these numbers.
I’ve been called a lot of things, but have never been called a fortune teller.