The Orlando Regional Realtor Association released their real estate market statistics for May 2009 and again the numbers are looking very positive.  The inventory level of homes for sale continued its decrease to 19,123 - that's 1,071 less homes for sale than just last month.  And not all the properties are expiring or getting foreclosed on.  Many are actually selling.

The number of actual closed sales was 1,854.  This is the best month for sales since way back in December 2006 some 2 1/2 years ago.  1,854 sales vs. 19,123 for sale means there is a 10.3 month supply of homes available.  Compare that to May 2008 when there were only 1,347 sales vs. 25,015 for sale which was 18.5 months supply.  Big difference.

Granted the median home price is way down to $130,000 and the average price is $155,700.  That is a huge drop since last year, but prices were unrealistic for so long that very few people could buy a home.  Things have changed and that is part of why sales have picked up.  Additionally the federal government is giving a $8,000 tax credit (a check) to anyone who buys a home between now and December 1, 2009 as long as they haven't owned a home in the last 3 years.  This is a VERY BIG DEAL.

For more details on these market statistics please refer to the ORRA website.

ORRA Originated Sales

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

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