Orlando housing and market conditions

The Orlando Realtor Association released Orlando housing statistics for July. In keeping with the ongoing theme of positive attitude attracts positive results, the organization predicted pending sales as being a sign of upcoming improvement of market conditions.

The numbers reported indicated:

• July sales fell below Junes by 3.56%
• Sales are down this year by 24.52% from 2007
• Orlando median sales price for July $207,500.
• Homes spend an average of 117 days on the market

The Association predicted that the increase in new or pending business over the past 3 months as compared to the same time last year is a sign that the market is improving. Unfortunately this new business may consist of short sale transactions that have a harder time making it successfully to the closing table.

Related Florida real estate views:

Appraisals + short sales = no sale

Real estate values in Orlando Florida

Orlando home sellers: giving in, selling or losing their home?

- Greg Staker - Watson Realty Corp. - 407-304-0255