Orlando Real Estate Report – January 2010

Orlando’s Real Estate Market Slows in January – Inventory Increases: The number of unsold homes in the Orlando area increased in January to 20,475, which is up 1,572 homes from the 18,903 available homes in December. This increase in available homes brings an end to the recent trend of home inventory reductions. We attribute this increase in inventory the result of November’s surge as buyers scrambled to take advantage of the $8,000 home buyer’s tax credit, which has since been extended. We expect the Orlando housing market to continue to find a balance between buyers and sellers. Many experts point to a “6 months on hand” of available homes as a balanced market. The Orlando housing market is currently at 9.97 months on hand. Some neighborhoods in the Orlando market have already reached a balance, while others have already become a favorable sellers market.

Orlando Median Home – Prices Stabilizing: the median home price seems to be stabilizing from last month’s increase. January’s median home price was $130,000, down slightly from the $132,000 median home price in December. We believe this slight drop in the median home price is the result of a disproportionate share of bank-owned and other distressed properties sales that closed in January.

Orlando area communities in focus – home sales in our featured communities are as follow:

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