Buyer selection declines as Orlando inventory slips to post-boom levels
The number of home sales completed in February showed a 5.68%
year-over-year increase, reports the Orlando Regional REALTOR®
Association.
Orlando’s inventory of unsold homes is now down to its
lowest point since March 2006. The fast-flying condo market alone has
43.40% less inventory than this time last year.
• Orlando home sales in February 2011 were up 5.68% over February 2010.
• The February 2011 inventory level is 16.02% lower than it was in
February 2010
• Orlando’s condo inventory is 43.40% lower than it was in February
2010.
• Sales of existing homes within the entire Orlando area in February
were up by 10.50% compared to February of 2010.
• The median price of all existing homes combined sold in February 2011
is an 8.57% increase from the median price recorded in February 2010.
• Of the 2,085 sales in February, 553 ‘normal’ sales accounted for
26.52% of all sales. Foreclosures (bank-owned and short sales) made up
73.48 percent.
• Pending sales are down 2.53%, compared to February of last year.
• Condo sales in the Orlando area increased by 2.14% in February when
compared to February of last year.
• Homes of all types spent an average of 99 days on the market before
coming under contract in February 2011, and the average home sold for
94.47% of its listing price.
Posted: 14 March 2011
Source: Orlando Regional Realtors Association
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