Posted by Hojin on March 16, 2007
Inventory of homes in the Orlando MSA is at a 12 month high sitting jut above 22,000 while the number of sales have hit an all time low at just 1,386 homes vs 2,286 a year ago. My humble prediction is that the numbers will continue to deteriorate until the inventory goes down to below 10,000 homes for sale. The recent tightening of lenders in recent months on sub prime mortgages should not help this market. Hopefully the dropping the rates will spur us on in our traditional peak season from Spring until the end of Summer for real estate in Orlando. Currently there are far more homes coming on the market than there are selling. 5,566 homes came on the market in February while sales have hovered around 2,000 home selling per month. If this keeps up then leave it to me to point out the obvious, more inventory.
Orange &
Seminole Counties |

|

|

|
 |
 |
 |

|

|
 |
 |
|
February 2006
|
6.07%
|
12,966
|
5,572
|
2,746
|
-
|
301
|
569
|
1,342
|
2,269*
|
48*
|
|
March 2006
|
6.17%
|
14,559
|
7,112
|
3,322
|
-
|
369
|
719
|
1,700
|
2,878*
|
50*
|
|
April 2006
|
6.27%
|
16,036
|
6,574
|
3,050
|
-
|
305
|
721
|
1,613
|
2,467*
|
53*
|
|
May 2006
|
6.39%
|
18,179
|
6,967
|
2,859
|
-
|
408
|
790
|
2,134
|
2,842*
|
56*
|
|
June 2006
|
6.45%
|
18,437
|
7,111
|
2,727
|
-
|
448
|
1,028
|
2,430
|
2,841*
|
57*
|
|
July 2006
|
6.53%
|
19,827
|
6,862
|
2,505
|
-
|
364
|
1,066
|
2,353
|
2,361*
|
61*
|
|
August 2006
|
6.20%
|
21,077
|
7,039
|
2,439
|
-
|
443
|
1,230
|
2,686
|
2,249*
|
62*
|
|
September 2006
|
6.09%
|
20,319
|
6,297
|
2,182
|
-
|
416
|
1,507
|
2,434
|
2,054*
|
67*
|
|
October 2006
|
6.05%
|
21,324
|
6,119
|
2,602
|
3,186 |
371
|
1,467
|
2,668
|
1,896*
|
73*
|
|
November 2006
|
6.10%
|
21,122
|
5,160
|
2,319
|
2,952
|
365
|
1,397
|
2,341
|
1,840*
|
74*
|
|
December 2006
|
5.74%
|
19,537
|
3,840
|
2,012
|
2,557
|
324
|
2,320
|
1,696
|
1,945*
|
78*
|
|
January 2007
|
5.91%
|
21,266
|
6,630
|
2,409
|
2,504
|
362
|
1,426
|
1,922
|
1,469*
|
90*
|
|
February 2007
|
5.92%
|
22,055
|
5,566
|
2,387
|
3,096
|
302
|
1,236
|
1,775
|
1,386
|
92
|





Posted in Market Statistics | Leave a Comment »
Posted by Hojin on March 8, 2007
This development by the Wilder Company has been slated to begin construction for quite some time at the site of the old Days Inn on Sand Lake Rd. I’ve heard rumors that they are having problems dealing with easements and that is why the site has been sitting empty without any signs of construction for the past year. If anyone knows anything about this, please post a comment.
Posted in Southwest Orlando Bulletin | Leave a Comment »
Posted by Hojin on March 8, 2007
The real estate market numbers for this area has been on a decline since July of 2006 with more and more properties coming on the market with many of the properties being condo conversions, condos, and townhomes. While there were 97 sales in July of 2006, the number of sales have been on a steady decline to a current level of only 38 sales in January of 2007 while inventory is at an a high for the past 5 years. I believe the numbers here have been skewed by the tremendous amount of investors with properties, especially condo conversions, on the market.
Number of Homes for Sale vs Sold vs Pended

Days on Market and Sold/List Price %

Average Prices of For Sale and Sold Homes
Posted in Market Statistics | Leave a Comment »
Posted by Hojin on March 8, 2007
The real estate market in Windermere has been mirroring the trend for all of Central Florida with a rise to an already high inventory and decrease in number of sales but since November of 2006, the number of sales surprisingly have been on a upward climb.
| Number of Homes For Sale vs. Sold vs. Pended |
| Price Range: $0 – No Limit |
| SQFT Range: 0 – No Limit |
| All Residential Prop |
| Average Home Sold Price per SQFT |
| Price Range: $0 – No Limit |
| SQFT Range: 0 – No Limit |
| All Residential Prop |
| Avg. Prices of For Sale and Sold Homes |
| Price Range: $0 – No Limit |
| SQFT Range: 0 – No Limit |
| All Residential Prop |
Posted in Market Statistics | Leave a Comment »
Posted by Hojin on March 8, 2007
Here are the latest real estate market numbers for the Dr. Phillips/Bay Hill area of Orlando, FL. The graphic clearly illustrates how even in sought after areas the inventories are rising while the number of sales have been decreasing.
| Location : Orlando/Bay Hill/Sand Lake (ZIP 32819) |
Number of Homes For Sale vs. Sold vs. Pended
|
| Price Range: $0 – No Limit |
| SQFT Range: 0 – No Limit |
| All Residential Prop |
| Average Home Sold Price per SQFT |
| Price Range: $0 – No Limit |
| SQFT Range: 0 – No Limit |
| All Residential Prop |
| Days on Market & Sold/List Price % |
| Price Range: $0 – No Limit |
| SQFT Range: 0 – No Limit |
| All Residential Prop |
Posted in Market Statistics | Leave a Comment »
Posted by Hojin on March 7, 2007
|
Location : Orlando/Dr. Phillips/Bay Vista (ZIP 32836) |
| Number of Homes For Sale vs. Sold vs. Pended |
| Price Range: $0 – No Limit |
| SQFT Range: 0 – No Limit |
| All Residential Prop |
The number of sales in the 32836 zip code has been on a marked decline since August of 2006 and the current inventory at an all time high. The disturbing part about this stat is that it is much worse than the numbers for all of Central Florida. This zip code historically has been considered one of the most sought after for its convenience to restaurant row and high scoring school districts.
| Facts and TrendsTM |
|
 |
| Published Feb. 2007 |
| Location : Orlando/Dr. Phillips/Bay Vista (ZIP 32836) |
| Average Home Sold Price per SQFT |
| Price Range: $0 – No Limit |
| SQFT Range: 0 – No Limit |
| All Residential Prop |
| Facts and TrendsTM |
|
 |
| Published Feb. 2007 |
| Location : Orlando/Dr. Phillips/Bay Vista (ZIP 32836) |
| Days on Market & Sold/List Price % |
| Price Range: $0 – No Limit |
| SQFT Range: 0 – No Limit |
| All Residential Prop |
| Facts and TrendsTM |
|
 |
| Published Feb. 2007 |
| Location : Orlando/Dr. Phillips/Bay Vista (ZIP 32836) |
| Avg. Prices of For Sale and Sold Homes |
| Price Range: $0 – No Limit |
| SQFT Range: 0 – No Limit |
| All Residential Prop |
Posted in Market Statistics | Leave a Comment »
Posted by Hojin on March 7, 2007
The local news here in Orlando always misreport crime in Metrowest when it is happening on the other side of Kirkman Rd. They have gotten it wrong so many times that Metrowest is starting to gain a reputation for prevalent crime and thus starting to affect home sales in the area. I believe the local residents in Metrowest need to contact the major news stations and set them straight or I believe the prices in Metrowest will continue to decline if this continues. I’ve heard this complaint from many of my customers but no one is doing anything about it. People think the change of name from Metrowest to Veranda Park will eliminate this recent bad press but the news people need to be corrected.
Posted in Southwest Orlando Bulletin | Leave a Comment »
Posted by Hojin on March 7, 2007
Welcome to WordPress.com. This is your first post. Edit or delete it and start blogging!
Posted in Uncategorized | Leave a Comment »