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February 6th, 2008 12:28 PM by David W. Welch
Pending sales continue to climb, and as of today are approaching 1,800. Closed sales in January were dismal to put it lightly at around 760 with a median price of $220,000 or so. These are still my preliminary numbers, and I will let you know what the official numbers are when they come out on the 10th of the month. As I say all the time the pending number is the more important one in my opinion, because it gives an indication of where the market is going. I doubt that you will hear much about the pending contracts anywhere else. Historically about 2/3s of the pendings close in a given month, so I am hoping for 1,200 sales in February.
I currently have one firm contract closing this month, another will be finalized today that will close this month, and a third that we are waiting for a lender approved short sale. www.davidwelch.com/orlandobuyers