Orlando Real Estate

This will be brief, but I was looking at Orlando real estate sales so far this month. Closed sales stood at 659 as of this morning with a median sales price of $168,000. That price is consistent with November's number, but the sales number is a bit lower than I would have expected. It is very hard to get much closed between Christmas and New Years, so I will be interested in seeing what our final sales are for December. Hopefully, we will break 1,000. With the first time home buyer tax credit, I really anticipated a big push this month. There are a lot of pendings, so we will see how many get closed. Overall inventory is down, which is typical for December. Distressed properties are continuing to hover around 6,400. I will be adjusting how I measure that number starting next month. I will be including listings that required third part approval. I expect that to push that number up somewhat, as there are agents who prefer that terminology in identifying short sales.

David Welch, Remax 200 Realty, Orlando Real Estate