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August 26th, 2008 4:16 PM by David W. Welch
Sales are coming in a little slower this month, and the median price seems to be holding steady though off slightly from July. So far the Mid Florida Regional MLS is showing 822 closed sales with a median price of $206,000. This could fluctuate before the month is over. Last month at the same time there were 1088 closed sales with a median of $205,000. July closed with over 1400 sales and a median price of $207,500. When sales are recorded has a bit of an effect on these numbers as brokers have two business days after closing to post the information on the MLS database. So, I am not too concerned about the number of sales. I expect we will be slightly behind July's numbers which is typical. With school starting back up, August and September sales usually lag compared to June and July. I am more concerned with keeping an eye on prices. We have seen a significant drop since last year which has stimulated improved sales. I believe we may have seen the bulk of the price correction for our market.
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