Orlando Real Estate -

January’s ‘Numbers’ From Short-Term Rental

The Central Florida Multi Listing System records 3074 homes listed for sale across

the short term rental communities,  which was down 65  when compared against the December total of 3139. During January 98 homes soldrepresenting 3.12% of the total available inventory. When considering the homes thathave sold during the past year figures show that the average days on market now records as 185 which was a reduction of 5 days compared to last month’s figure of190. The overall average asking price/sales price percentage ratio achieved remained unchanged at 93.75%. As at the month end the number of homes recorded as under  contract stood at 398 which was up 36 on the December figure of 362. During January 289 homes withdrew or expired from the market having failed to achieve a sale. At the current level of sales pace this month’s total inventory represents a 31.3 month supply of homes.

Orlando…

Orlando's existing home sales ended their poorest overall year since 1997 with the

number of closings completed in December up from a year earlier which was the

fourth straight month of such gains. The Orlando Regional Realtor Association stated

during the month that members sold 1,305 single family homes, town houses and

condominium units which was an increase of 21% when compared with December

2007. The total number of resale’s sold in the core Orlando market last year, 14,740,

which was the lowest annual total in 11 years and represented a 12% decline from the

2007 total although during the four final months of last year, nearly 1,000 more

homes changed hands compared with the same period in 2007.

The core Orlando market's median sales price ended the year at $169,900, according

to the Realtors' preliminary figures for December which was down 25% from a year

earlier but up 2% from November which was the first month on month increase in the

past 18 months. The total inventory of homes listed for sale in the Orlando Realtors'

core market which comprises of mainly Orange and Seminole counties fell to 22,524

in December which was the lowest level of inventory seen in nearly two years, while

the one month reduction of 1,884 properties was the largest monthly reduction on

record. This combined with December's improved sales pace, drove the local supply

of homes on the market down to about a 17 month supply which was an improvement

from the 32 month’s worth of homes that were listed for sale at the start of 2008.

The average length of time it takes to sell a home in the Metro Orlando local market

now records as 109 days.

Florida…

Florida’s existing home sales rose in December, making it the fourth consecutive

month that sales activity demonstrated gains in the year-to-year comparison,

according to the latest housing data released by the Florida Association of Realtors®

(FAR). December’s statewide sales also increased over November’s figures in both

the existing home and resale condo markets. Existing home sales rose 27% last month

with a total of 11,053 homes selling statewide compared to 8,712 homes having sold

in December 2007, according to FAR. December’s statewide existing home sales

were 28.9% higher than November’s recorded statewide sales.

Florida Realtors also reported a 12% gain in statewide sales of existing condos in

December, marking the third recent month (following September and October) for

higher statewide existing home and existing condo sales compared to year-ago levels.

Statewide existing condo sales last month increased 37.7% over the total units sold in

November. In Florida’s year-to-year comparison for condos, 3,138 units sold

statewide compared to the 2,814 that sold in December 2007 representing a 12%

increase. The statewide existing condo median sales price last month was $130,600.

The December 2007 figures recorded as $192,600 representing a 32% decrease.

U.S …

New home construction fell to an all-time low in December, capping the worst year

for builders according to records dating back to 1959. The Commerce Department

reported during the month that construction of new homes and apartments fell by

15.5% to an annual rate of 550,000 units last month which was a much weaker

showing than the pace of 610,000 that many economists were forecasting and ended

2008 on a dismal note.

Last year the number of housing units that builders broke ground on totaled just over

904,000, which was also a record low. This figure marked a 33.3% drop from the

1.355 million housing units started in 2007. The previous low was set in 1991. The

report also showed that applications for building permits which are considered an

indicator of future construction activity fell to a rate of 549,000 in December which

represents a 10.7% reduction from the previous month.

Numbers ...

January 30th 1 G.B.P.... Buys 1.442 U.S.D

1 Euro......Buys 1.278 U.S.D

U.S Prime Interest Rate = 0.25%