Orlando’s Real Estate Market Slows in November—the number of unsold homes in the Orlando area increases slightly after nine months of decline. The number of unsold homes is now at 19,724, and up from the 19,455 homes that were available in November. This leaves 269 more homes for sale in the Orlando area than one month ago.
Waterford Lakes, Orlando Florida – available un-sold homes drops to 3.11 months on hand.
Orlando Median Home Prices Rise—the median home price takes a significant move downward this month. The November median home in the Orlando area fell to $123,000, down from $130,000 just last month. We believe this drop in the median home price results from the disproportionate share of bank-owned and other distressed properties sold and closed in this month.
Orlando Housing Inventory—the number of unsold homes in Orlando was up in November to 19,724. This build in inventory is most likely the result of a slowing in buyer’s urgency to take advantage of the $8,000 buyer’s tax credit, which was supposed to end November 30th, but has now been extended until April 2010. With the extension and expansion of the government’s tax credit program, and the approaching holidays, we expect home inventories to build for the next few months. Currently the Orlando area’s home inventory months on hand is now at 7.14 months, up from 6.83 last month.
Orlando area communities in focus—home sales in our featured communities are as follow:
| November 2009 | Active Listings | Sold | Months of Inventory |
| Avalon Park |
229 |
44 |
5.20 |
| Baldwin Park |
94 |
18 |
5.22 |
| College Park |
195 |
10 |
19.50 |
| Conway Area |
124 |
16 |
7.75 |
| Dr Phillips Area |
343 |
41 |
8.37 |
| Hunter’s Creek |
196 |
39 |
5.03 |
| Lake Nona |
212 |
32 |
6.63 |
| Metrowest |
202 |
58 |
3.48 |
| Waterford Lakes |
87 |
28 |
3.11 |
| Averages |
7.14 |
