Orlando Home Sales Soaring
Orlando Sales Soar
Once homes hit a psychological barrier, buyers jump off the fence, such is the case in the hometown of Disney World, Orlando, Florida, where the latest stats show home sales up 47 percent year over year in March 2009. The surge is a result of the average housing price dropping 37 percent.
Orlando homebuyers are getting back into the market and taking advantage of the improved affordability. Lower prices, record low interest rates, and a vast selection of homes give homebuyers increased buying power, making it an excellent time to buy a home. This is especially true for first-time buyers who are eligible for the $8,000 first-time homebuyer tax credit.
The housing market has benefited from the depressed prices (averaging $137,000) and a large supply of bank-owned houses for sale — nearly half of the 1,653 houses sold in March were bank-owned. The market is currently in normal absorption rate at about a 7-month supply with more than 12,000 homes on the market.
Homebuyers are starting to snatch up the good buys, decreasing the number of days on the market. Homes of all types spent an average of 104 days on the market before being sold in March 2009, and the average home sold for 92.66 percent of its listing. In March 2008 those numbers were 128 and 93.12 percent, respectively.
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.
