Central Florida Real Estate Happenings..... A CONTINUING upsurge in market activity!!

By
Services for Real Estate Pros with Knights Investing

To see homes for sale in the Orlando Regional MLS, click here.

 

 

Orlando area home sales are continuing to experience an increase in activity. Members of the Orlando Regional REALTOR® Association were involved in the sale of over 28 percent more homes in February of this year than February of last year.

 

 

 

 

I have been reporting on this trend for many months;
here are just the last 6 months of my posts about the
central Florida real estate market:

 

In addition, Orlando REALTORS® filed over 58 percent more contracts in February 2009 than in the month of February last year. Pending sales - considered to be a reliable indicator of future sales - continued it's upward trend in February. There are twice as many more homes under contract in February 2009 than compared to February 2008.

 "Conditions are aligning very favorably in Orlando for buyers," says ORRA President Les Simmonds, L.G. Simmonds Real Estate Corp. "Local first-time buyers are particularly well positioned as a result of the new $8,000 first-time homebuyer tax credit, record low interest rate, and decreasing median price."

 The median price of Orlando real estate sold in February decreased by almost 35 percent to a VERY LOW $145,500 -- compared to last years figures, while the area's average interest rate went down again to 5.25 percent, its lowest point since May of 2005.

The decrease in median price drove the area's affordability index to yet another record high of over 169%. Buyers who earn the reported central Florida median income of $52,000 can qualify to purchase one of almost 12,000 homes in Orange and Seminole counties currently advertized in the regional multiple listing service (MLS) for $246,000 or less. The current HOT selling price of homes is $200,000 to $250,000... do you wonder why?

 

Here is my post about that topic: Central Florida Real Estate Happenings..... How many homes are in the most popular price range?  (Authored 12/03/08)

 

The amount of time central Florida real estate has been on the market has gone down also, from 123 days last month to just over 100 days currently. That means if you want to purchase a home and THE HOME YOU WANT is on the market, it will take an average of just over three months for it to be snatched up by someone else.

There are currently 22,168 homes available for purchase through the MLS. There are 445 LESS homes this month for sale in central Florida than last month. The market is starting to heat up.

 

 

To get FREE access to the Orlando and central Florida MLS to see current
residential homes AND commercial properties for sale, just click on this link!

Search the Orlando MLS FREE...click here!

 

 

This central Florida real estate 
Market Report is brought to you by:

Alexander Harb PSEM®, E-Agent®
The Knights Team Sales leader

Beach and Luxury Realty Inc.

 

 Beach and Luxury Realty Inc.

Posted by

Alexander Harb -- PSEM®, E-Agent®

To follow me on facebook and add me as a friend.... click here..

 

 

Rice Property Management and Realty L.L.C. is an equal housing company!

Click here to see every available home for sale on the Orlando, Florida MLS

 

 

 

 

  Just click on any of these links
Click here for help in selling your central Florida real estate.to find the type of help you need.

 

  

Buying, selling or
just searching

I will find what
you
are looking for!

 Click here for helpful hints to purchase your new central Florida real estate.

 

 

 

 

 

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Ambassador
1,541,026
Tammy Lankford
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Your Lake Sinclair Expert (706-485-9668)

Alex I'll be really happy when the price trends upward.  Things have moved more in my area the past 3 months, but prices have continuted to fall.  I hope the bottom is close.

Mar 28, 2009 09:50 AM #1
Rainmaker
458,996
Alexander Harb
Knights Investing - Mesquite, TX
Dallas, Texas Real Estate Investing

Tammy...we will see what happens...people can onbly pay so much for a home....and if wages stay the same, prices of homes will NOT move up too much because less people will be able to afford them...

It is a vicious circle.....

Mar 28, 2009 01:49 PM #2
Rainmaker
457,414
Jeff&Grace Safrin
F.C.Tucker 1st Team Real Estate - Valparaiso, IN
SpousesSellingHousesTM

wow that's an incredible increase Alex- hopefully all states will follow Florida, although somehow Orlando being an investment place for vacation properties perhaps that's where the increase is?

Congrats though!

Sincerely,

Grace

Mar 28, 2009 03:54 PM #3
Rainmaker
458,996
Alexander Harb
Knights Investing - Mesquite, TX
Dallas, Texas Real Estate Investing

Grace...that is what it is all about...PLUS the fact that homes priced in the $275K-$300K range are now priced between $240K-$280K...... just think about other homes and what they were proiced 2 years ago... the largest selling price for homes is in the $175K-$245K price range.......

People are BUYING HOMES here in central Florida!!

=-)

Mar 28, 2009 11:43 PM #4
Ambassador
1,338,936
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Alex,

I was a bit surprised that you mention 28% growth in sales. That's exactly the number that I calculated as growth here for the same time. I thought that your market is still more agile...

Apr 01, 2009 12:23 AM #5
Rainer
114,392
Renee L. Norton
Birmingham, AL

Sounds promising.  Our February was up from jJanuary, but down from February 2008.

Apr 02, 2009 08:17 PM #6
Rainmaker
458,996
Alexander Harb
Knights Investing - Mesquite, TX
Dallas, Texas Real Estate Investing

Jon......... that number is right from the statistics of the Realtor website for central Florida.... I am sure there are a couple of percentage points of NON- Realtor sales in addition to what i have reported on here.......but it would take a LOT to document them..

Renee............ Just be patient...the market is cyclical... I am sure they taught you that at KW....... what comes up, MUST come back down....... what is a buyers market will turn into a sellers market...SOMETIME.....

=-)

Apr 02, 2009 11:42 PM #7
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Rainmaker
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Alexander Harb

Dallas, Texas Real Estate Investing
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