Orlando Property Market Is Continuing To Increase
The real estate market in Orlando has seen a significant improvement as evidenced by the figures in February’s middle. 2010. The sales increased, but it is difficult to discern the benefits of the extra inventory. The figures are eye-opening when you compare inventory across the five metropolitan counties that comprise Orlando between 2009 and 2010. The inventory glut that was seen last year was significantly reduced due to the increase in short sales and bank foreclosures purchased by investors and first-time home buyers. However, Ocoee homes that are priced correctly continue to sell quickly. Many people can understand why Ocoee Homes for sale continue to sell like hotcakes despite the current housing market downturn in the United States.
The bright side in this Orlando property market is continuing to increase. There are still homes that have not been sold. Orlando real estate is composed of single-family homes, townhomes, condos, and multi-family homes within the five-county region. Inventory from the last two years is according to:
Inventory of un-sold hosing at by June 30, 2009, in terms of months were Orange County 18 months, Seminole County 19 months, Volusia County 22 months, Osceola County 18 months, as well as Lake County 22 months.
Inventory levels of real estate that were unsold the end of January 2010 month included Orange County 10.8 months, Seminole County 11.3 months, Volusia County 13.8 months, Osceola County 11.8 months, and Lake County 14.4 months.
Sales growth for Orlando Property Speak for the Properties
Sales growth for Orlando property speaks for the properties. We have seen some remarkable discounts for Orlando townhouses, homes, and condos available for sale in the metro area of Orlando. The figures are averages, but may not apply to homes that are upscale with a price of $500,000 or greater area where inventory that is not sold of luxurious homes is significantly higher. The figures for Orange county are a 40% increase within Seminole County a 42%, Volusia County 37%, Lake County, 35 percent, as well as in Osceola county, 37 percent. It is clear that this improvement is not without a significant reduction in the price of a house, however since the number of homes decreases, the cost will be stable as we’ve observed in a few condominium complexes or subdivisions. It’s a great time to buy a home as costs are at an all-time low.
Many Options For Buyers In The Orlando Housing Market
There are a lot of options for buyers in the Orlando housing market usually referred to as 5 counties: Orange, Seminole Volusia, Osceola, and Lake County. The five counties are home to cities like Orlando, Lake Mary, Windermere, Clermont, Kissimmee, Ocoee, Davenport, Oviedo, Winter Park, Longwood, Apopka, Maitland, Debary, Deland, Sanford, Altamonte Springs and currently, 35486 condos, homes, and townhouses to sell, 4785 of which are bank-owned properties, and there are 15617 short sales. This means that over half of the houses for sale are in some sort of financial distress. This can be an enormous chance for first-time homeowners, investors, and second-home buyers. The weather is perfect for the state of Florida and with prices at such low, who could resist.