Orlando property market statistics for November 2009
Members of the Orlando Regional REALTOR® Association closed 101 percent more
homes in November of this year than last, bringing current year-to-date
Orlando area sales to 59% above 2008. Of those November sales, 63% of the
homes were foreclosures; “normal” sales made up 36%.
There is currently more than double the number of pending sales than in
November of last year. A total of 3,023 sales contracts were newly filed in
the month of November, which is a jump of 84% compared to November 2008.
The median price of all existing homes combined sold in November 2009
decreased 5.4% from October 2009. The median price encompasses all types of
sales situations and home types; the tremendous number of bank-owned and
short sales drives the overall median price down.
Inventory increased by 259 homes from October 2009. Compared to last year,
the November 2009 inventory level is 34% lower than it was in November 2008.
Increased sales activity has led inventory months-of-supply to decline by 67
percent since January 2009.
Posted: 11 December 2009
Source: Florida Association of Realtorsr
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