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March 4th, 2008 1:01 PM by David W. Welch
The inventory level has dropped slightly as it does each month end as listings expire. The current number of homes listed for sale in the tri-county area is 26,728. The number of pending contracts continues to climb now up to 2,281. Keep in mind two months ago that number was around 1,500. That was the lowest number we have seen since the market reversal. This is my key to saying that January 2008 was the bottom. Closed sales for February are still way below where we should be, but better than January. Closed sales for Orlando Realtors stands at 876 so far with tomorrow being the last day to get February sales in the computer to count. The median price of those sales stands at $223,000 again up from January.