Orlando Real Estate

Prices and Inventory Hold Steady in October

November 12th, 2007 8:12 AM by David W. Welch

The official numbers came out, and they are pretty much what I expected. The median sales price held steady at $235,000. That price is 7.4% lower than the median from a year ago. So you could conclude that prices have come down. The median price year to date is only 0.75% lower than last years median. That could suggest that prices have actually held in place.

The million dollar plus homes continue to sell at a brisk pace while homes in the middle stay bogged down. Only 1,034 homes sold in the Orlando area last month. That is up from September, but off by 45% from last October. I expect this to improve greatly in the first quarter as new home inventories continue to decline. If you want a new home in Orlando, I recommend you contact me soon so we can still find you a great deal. The incentives will be going away before you know it.

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Posted by David W. Welch on November 12th, 2007 8:12 AM

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