The Orlando Regional Realtor Association released the latest statistics for the Orlando real estate market today and the numbers show a continuing trend towards a stable market with inventory levels hovering just below 16,000. The number of homes on the market has been around the 16,000 mark for the past 6 months.
One concerning statistic is the number of sales closed which dropped from 2,410 in December 2009 to 1,742 in January 2010. The months of December and January are not the most desired months to close traditionally and perhaps there’s a silver lining with the number of new contracts increasing from 2,984 in December 2009 to 3,579 fro January 2010.
Although the latest stats show a slight step back overall, they’re still showing signs marching toward a stable market which would be welcome to many of us that have been following the real estate market in Orlando.