Orlando Housing Inventory Drops To 3 Year Low
Orlando housing inventory of homes for sale has dropped to 17,831. This is the lowest housing inventory level since April 2006, when there were 16,036, when the home inventory buildup began. With the Orlando real estate market reaching a balance between buyers and sellers, home prices are also showing signs of stabilization, with the medium home price increasing slightly from last month’s $130,000 to this month’s $131,300. The increase in sales activity can be attributed to many factors, but the $8,000 first-time buyer’s tax credit has certainly played a roll.
June home sales in featured communities in Orlando are as follows:
College Park: 21 sales out of 246 listings
Conway Area: 10 sales out of 127 listings
Dr Phillips Area: 51 sales out of 317 listings
Lake Nona: 34 sales out of 315 listings
Waterford Lakes: 17 sales out of 70 listings
Orlando Housing Inventory
There are currently 17,831 homes available for purchase through the Orlando MLS. Housing inventory decreased by 1,292 homes from May 2009. This leaves a home inventory level of 8.4 months, which is the lowest since July 2006.
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