Orlando Real Estate

Orlando real estate has continued to post strong sales, but prices took a big nosedive in January. The median price for most of 2009 was around $125,000, but dropped to $102,000 last month. So far this month, as I reported yesterday on my blog at www.RealEstateOptimist.com, the prices are up a little to about $107,000. We saw a very different result here in Baldwin Park. In 2009 there were 190 closed sales with a median price of $346,500 and an average of $399,395. So far in 2010 there have been 19 sales with a median sales price of $430,000 and an average of $500,880. That is about a 25% increase either way you look at it. The big difference between Baldwin Park and Orlando overall is the impact distressed properties is having on the neighborhood. Of the 94 active listing in Baldwin Park less than 31% are distressed compared with about 48% in the marketplace overall. Pendings are close to the norm with about 78% distressed sales, but not so many are getting closed. Only about 42.1% of the closed sales so far have been distressed, which is far below the 70% in the greater Orlando market.

Orlando Real Estate, David Welch Real Estate Optimist