The Orlando Regional Realtor Association released their numbers for the Orlando real estate market today which confirms the trend toward stabilization with the inventory hovering around 8 months and about 30% more sales than the same time last year.
The most active price range was between $100,000 and $250,000 which raises the question of how much the distressed property market is affecting these numbers. The first time homebuyer tax credit may also be affecting these numbers. It expires at the end of October so we’ll definitely figure out how much of an effect it has on the market at that time.
Nonetheless, the number of homes for sale dropped from 24,742 a year ago to 17,231 and the number of sales increased from 1,472 to 2,141 in the same period.
The numbers definitely show improvement. Let’s hope we continue this trend.