Orlando housing market experiences uptick in sales activity
Orlando Real Estate
Orlando area home sales have again experienced an increase in activity, with members of the Orlando Regional REALTOR® Association involved in the sale of 28.18 percent more homes in February of this year than February of last year: 1,219 to 951.
In addition, Orlando REALTORS® filed 58.36 percent more contracts in the month of February (2,434) than in February 2008 (1,537). Overall, pending sales – considered by housing economists to be a reliable indicator of future sales – continued its upward trend in February to 4,348. There are twice as many more homes under contract in February 2009 than compared to February 2008 (2,175).
The median price of Orlando homes sold in February ($145,500) decreased by 34.75 percent compared to February 2008 while the area’s average interest rate dropped yet 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 169.17 percent. The first-time homebuyer affordability has increased to 120.30 percent.
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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit http://OrlandoShortSaleExpert.com or www.JerrySellsOrlando.com for your real estate needs. Please give me a call if you have questions about the Orlando and Central Florida real estate market.
P.S. If you are listing your home as a short sale in Orange County Florida and Orlando, Windermere, Winter Garden, or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.
