Orlando real estate statistics for November 2010

By
Real Estate Agent with Sand Dollar Realty Group, Inc. BK627826

The November 2010 monthly Orlando real estate market statistics have been reported by the Orlando Regional Realtor Association.  Here is a direct link to the full report details. Below is a breakdown of the numbers. This covers Orange County and Seminole County Florida, including the cities of Orlando, Winter Park, Maitland, Windermere, Apopka, Ocoee, Altamonte Springs, Longwood, Sanford, Casselberry, Oviedo, Winter Springs, and Lake Mary.

                 Inventory    New Listings    New Pendings   Under Contract     Closed    Days on Market

Nov 2009       16,002        3758                 3023                 8633                 2329           85

Aug 2010      16,535         4146                 3892                 8945                 2566           83

Sept 2010     16,359         3984                 3654                 8713                 2374           87

Oct 2010       15,441        3650                 3466                  8817                1953            91

Nov 2010       15,192        3346                 3243                  8998                1848           97

The November numbers are an extension of what happened earlier in the Fall with the "robo signing" scandal that made news headlines in late September / early October as well as the final September 30, 2010 deadline for people to close and still receive an $8000 government tax credit.  Many buyers have sat on the sidelines and taken a wait-and-see attitude and I expect this to continue until after the holidays are over.  Once you get into mid-November most people are thinking more about eating turkey, putting up Christmas trees, and shopping at Wal-Mart than they are about buying real estate.  Thus sales tend to decrease during the end-year months and then spike again during the Spring. 

Orlando prices remained basically flat for the 3rd month in a row.  The average sales price in metro Orlando decreased slightly from $143,800 to $141,500 while the median price remained constant at $105,000 (the same as September and October).  There are still many great deals out there and the best time to buy is when everyone else is selling and few are buying.  I am personally making several offers every week trying to find great investment properties to buy. We bought one in Ocoee the first week of December (4/2 bank owned REO for $44K) and are actively looking for more. 

These are some additional analysis put out by the Orlando Realtor Association and the Orlando Sentinel for you to review as well. It is a great time to buy.

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Rob Arnold

Metro Orlando Full Service - Investor Friendly & F
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