April 1st, 2009 8:55 AM by Karyn Smith
At the end of March 3080 homes record as listed For Sale across the short term rental
communities. This figure remains little changed from the February figure of 3097.
During March 138 homes sold representing 4.4% of the total available inventory. The
average days on market that a home currently takes to sell fell to 174 which was a
reduction of 5 days when compared to last month’s figure of 179. The average asking
price/sales price percentage ratio achieved across all communities records as 93.80%
against last month’s figure of 94.00%. During March a total of 188 homes withdrew
or expired from the market having failed to achieve a sale. As future sales indicator
the number of homes showing as pending/under contract increased to 535 against the
February figure of 462. At the March sales pace the current total inventory level
represents a 22.3 month supply of available homes.
According to Local Realtor Board figures Association members sold 1,219 resale
homes last month against the 951 sold in the same month a year prior. Orlando
Realtors also reported a total of 4,348 homes under contract/pending in February
which was nearly double the 2,175 recorded in February 2008. The median price of
homes sold in February fell 34.8% from $223,150 a year ago to $145,500 this year.
Sales of existing homes in the Orlando metropolitan area which incorporates Lake,
Orange, Osceola, and Seminole counties increased by 29% last month from 1,176 in
2008 to 1,519 this year. Condo resale’s the association members reported totaled 195
in February which was a 71% increase from the 114 sold in February 2008. Across all
home styles the average days on market records as 102 with the average home selling
for 93% of its listing price which was up slightly from January figure of 92.6%.
Despite federal government efforts to reduce the rate of foreclosures, the number of
homes in some stage of the foreclosure process in Metro Orlando continued to rise
last month. The four county Metro Orlando area had 7,690 homes with a foreclosure
filing notice which was double the February 2008 recorded figure according to a
report released by RealtyTrac Inc during the month.
Resale activity of single-family homes rose 20% last month across the State with a
total of 9,858 homes selling, compared with the 8,181 homes that sold in February
2008, according to the Florida Association of Realtors' monthly report. Condominium
sales rose 15% from a year earlier. These latest figures showed that February's
statewide sales were up from January's figures for both single-family homes (16.7%)
and condominiums (25.1%).
Thirteen of Florida's metropolitan statistical areas (MSAs) reported increased
existing-home sales in February compared with a year earlier, while 11 MSAs also
showed gains in condominium sales. Florida's median sales price for single-family
homes last month was $141,900 which was down 29% from the $199,300 figure
recorded a year ago. The median sales price for condominiums was $109,300 which
was down 37% from February 2008.
Sales of resale homes increased unexpectedly in February by the largest amount in
nearly six years as many first-time buyers took advantage of price discounts related to
foreclosure and distressed property sales. The National Association of Realtors
reported during the month that sales of existing homes grew 5.1% to an annual rate of
4.72 million last month, from 4.49 million units in January. Geographically, sales rose
9.7% in the South from a month earlier, and 6.6% in the West. Sales fell 9.1% in the
Midwest and 3.3% in the Northeast.
March 31st 1 G.B.P…Buys 1.430 U.S.D
1 Euro......Buys 1.319 U.S.D
U.S Prime Interest Rate = 0.25%