The Orlando Regional Realtor Association today released results for October 2009 in the Metropolitan Service Area which includes Orange, Seminole, Lake Osceola and West Volusia counties.
Units closed in October 2009 were 2206 vs. 2292 in September of 2009, a 3.8% decrease in month to month sales. The 2206 units sold in October of 2009 vs. 1128 units sold in October of 2008, are a 79.6% increase in year to year sales!
The average selling price in October 2009 was $161,000 vs. $154,398 in September 2009 a 4.3% increase month to month. The average selling price in October of 2008 was $220,223 a 31.9% year to year decrease.
The median selling price in October of 2009 was $130,000 vs. $125,000 in September of 2009, a 4.3% increase. The median selling price in October of 2008 was $175,650 a 26% decrease in year to year sales.
We are now just over a seven month period of inventory, and prices appear to be firming and increasing in single family homes especially. Since it appears likely that the $8000.00 tax credit for first time homebuyers will be extended to April of 2009, and the tax credit has been expanded to include existing homeowners who have lived in their primary residence for 5 of the past 8 years, real estate in the Central Florida area is poised to continue to increase.
If you are interested in searching for homes in the Central Florida market, please click here www.ExitRealtyOrlando.com
Bill Calhoon
Sales Manager
Exit Realty Central
Tags: Banks, Finance, First time home buyer, foreclosures, real estate, Tax Credit