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November 17th, 2008 1:51 PM by David W. Welch
We are about half way through November, and there are 378 closed sales posted in the MLS so far. The median price is remaining somewhat stable, but lower at $175,000 with a median days on market of 104. If the time on market holds that will be a one week improvement in the time to sale. The other numbers I have noticed have to do with the inventories of homes for sale, distressed properties and contracts pending. The first two are actually down just a tad, like a handful of homes. The most significant thing is that the distressed properties are not continuing to climb. The pending contracts are continuing to climb especially among distressed properties. There are 1,674 pending contracts on properties identified as distressed with 6,359 active distressed properties. I have seen a high of 6,375 distressed properties, so like I said it is not a huge number.
David Welch, Orlando Real Estate Blog