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

By
Real Estate Services 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.

 

 

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the clock to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Location:
Florida Orange County
Groups:
All Things Florida
Beach & Luxury Realty Group
Posts to Localism
Tags:
central florida real estate news
business priorities
persistence

Comments 7 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the man to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
446,670
Jeff&Grace Safrin
SpousesSellingHousesTM
F.C.Tucker 1st Team Real Estate

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

March 28, 2009 03:54 PM
Rainmaker
458,343
Alexander Harb
Dallas, Texas Real Estate Investing
Knights 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!!

=-)

March 28, 2009 11:43 PM
Ambassador
1,304,552
Jon Zolsky
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

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...

April 01, 2009 12:23 AM
Rainer
114,392
Renee L. Norton

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

April 02, 2009 08:17 PM
Rainmaker
458,343
Alexander Harb
Dallas, Texas Real Estate Investing
Knights 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.....

=-)

April 02, 2009 11:42 PM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the flag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
458,343

Alexander Harb

Dallas, Texas Real Estate Investing
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the magnifying-glass to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: