Orlando home sales up over last year

Home sales for Orange County which includes Orlando were up 54% in September 2008 when compared to September of 2007. The information is as reported on the ORRA website.

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Orlando housing and market conditions


- Greg Staker 407-304-0255

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

ORRA released a new set of numbers dealing with the Greater Orlando housing market. It was noted as a positive that the listings inventory has dropped by 46% since January.

• It is possible that more sellers are giving in or that the listing agents are giving up and if the home is priced to high, they are being taken off the market. MLS reports indicate that 821 Orlando homes were withdrawn from the market in June, 792 in May and 747 in April.
  
• The ORRA report also noted that June saw a 7% increase in sales over May. That is great news and something we have not seen in some time. The hope is that this trend will continue upward regardless of how slightly throughout the year and in to 2009.
  
• Another sad truth is that more people are losing their homes in the Orlando area. Recent reports indicate that Orlando ranks higher than most metropolitan areas in foreclosure rates. The foreclosures will pull down the listing inventory temporarily only to see these same homes reappear months later as bank owned listings.

These are 3 good reasons why the inventory is dropping in the Orlando area. What it means long term is still to be determined.

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Orlando home sales in February

MLS sold numbers for the first week of February were off 61% from the same time last year indicating the correcting market is still in full swing. 51 homes were reported sold in February 1-7 as compared to 143 over the same time last year.


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Orlando dominates 2008 Central Florida home sales

Orlando is dominating Central Florida for number of homes sold thus far in 2008. This comes as no surprise as Orlando is the largest Central Florida city in our marketing area.

Early numbers being reported by the Mid-Florida MLS indicate that January 2008 will see a substantial drop in Central Florida sales as compared to January 2007.

The following are a sample of homes sales thus far in 2008 in selected Central Florida cities

Orlando 204
Kissimmee 43
Deltona 27
Clermont 26
Longwood 20
Apopka 19
Sanford 19
Winter Park 18
Oviedo 17
Lake Mary 16


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Orlando home sales in February

Early reports show Orlando homes sales falling off the pace.

Orlando home sales down 71%


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

Orlando home sales down 71%

Closed sales reported for the city of Orlando for the first week of 2008 are 71% below the numbers reported during the first week of 2007.

A search conducted for reported home sales in Orlando during this first week of 2008 as compared to the first seven days of 2007 found that in the first week of 2007, 104 homes were reported sold in Orlando as compared to just 30 homes during the first week of 2008.


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