Orlando home sales are up, prices are down
Osceola County for the second month leads the Orlando area in increased
sales activity. Sales in that county jumped an impressive 47.26 percent in
October 2008 compared to October 2007; last month, the comparison increase
was an astonishing 77.38 percent.
The median sales price of those homes sold in October declined by 24.26
percent when compared October 2007, and the average home sold for 93.08
percent of its listing price.
The number of pending sales, considered by housing economists to be a
reliable predicator of future sales activity, continued its upward trend to
3,316. There are 72.43 percent more homes under contract (3,316) this month
than compared to October 2007 (1,923).
Sales of existing homes within the Orlando Metropolitan Statistical Area
(Lake, Orange, Osceola, and Seminole counties) in October were up by 15.04
percent when compared to October of last year. Throughout the entire MSA,
1,545 homes were sold in October 2008 compared with 1,343 in October 2007.
Posted: 11 November 2008
Source: Orlando Regional Realtors Association
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