Hello there!! This post will the show trends in the
Orlando and central Florida real estate marketplace,
as they are happening.
In November, the Orlando and central Florida real
estate median sales price of about $167,000 declined
over 28% when compared November 2007's median sales
price of $234,900. It is also a decline of almost 5%
when compared to the median sales price in October
2008 of $175,650.
Orlando and Central Florida real estate SALES PRICES ARE
SLIDING EVEN MORE!!!
This is pushing UP the affordability index to over
135%
- The median income for Florida residents is almost $52,000.
- If YOUR family income is at that level or higher,
there are OVER 11,500 homes that are on the central Florida
market for $226,000 or less THAT YOU CAN QUALIFY TO OWN.
Members of the Orlando Regional Realtor® Association
helped close the sales of over 5% more homes in November
of this year than last year. Pending sales, considered by
housing economists to be one trusted predicator of future sales,
continued a five-month increase in activity . There are over
84% more homes under contract in November 2008
than compared to November 2007.
What do those statistics mean?
- Homes are selling....a LOT of homes....
- This is NOT a fluke...it has been happening for 5 MONTHS now.....
- Home prices ARE CONTINUING TO FALL!!!
- Mortgage rates are falling also!
To see all homes for sale on the Orlando and central
Florida MLS, just click on this link!
This Orlando and central Florida real estate
market report is brought to you by:
Alexander Harb PSEM®, E-Agent®
The Knights Team Sales Leader
Beach and Luxury Realty Inc.
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