For three months in a row, Orlando home and condo sales have gradually increased. The number of pending contracts has also increased and the inventory declined a bit. Could the Orlando housing market be on the way back up after bottoming out? The Orlando Regional Realtor Association believes a slow shift is beginning toward more balance between buyers and sellers. The following numbers provide a glimpse into the recently Orlando real estate market:
$214,000 – The median sales price of a home in the core Orlando area as of May
25,015 – The number of houses and condos available through the Orlando MLS. This number marks the third biggest monthly decline since December 2006.
3,225 – Orlando homes under contract
2,010 – Orlando homes newly under contract. Up 20% from three months ago.
5.94% – The average mortgage-interest rate in May.
121 days – The average days on market for an Orlando area home. This is about 27 days slower than a year ago.
Long story short, the market does seem to be experiencing the beginning of a slow rebound. Will it last? Only time can tell. Europeans are helping to fuel the rekindling in recent months with the strength of the euro. Many buyers are paying for their Orlando dream homes in cash.
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