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March 2006 monthly update on Real Estate trends and conditions in the Central Florida area.

This issue brings with it yet another record for home sales, this time featuring 2,168 homes sold in February. The previous record for the month was 1,988 set last year. Days on market are about where they were last year, albeit a little higher, and the median price in February $241,250 is down a bit from January. It is, however, 23% higher than last February ($196,000), which was the last time Orlando saw a median price below $200,000. Pending sales are down a tad from last month and from last February, although they have risen from the lows experienced in November and December. As you know, we must continue to watch the rising inventory, which is close to 13,000, the likes of which Orlando has never seen before.

Prior month's information

Orange &
Seminole Counties

February 2005
5.49%
3,141
2,397
2,831
149
95
410
1,988*
41
March 2005
5.25%
2,956
3,147
3,161
183
115
442
2,529*
37
April 2005
5.29%
2,947
3,314
3,362
165
129
423
2,557*
37
May 2005
5.12%
3,253
3,721
3,055
81
92
461
2,806*
30
June 2005
5.43%
3,710
3,948
3,177
262
143
543
3,119*
29
July 2005
5.55%
4,473
4,188
3,237
229
158
536
2,547
27
August 2005
5.32%
5,532
5,037
3,584
245
140
725
2,909
27
September 2005
5.62%
6,786
5,008
3,090
324
240
845
2,752
29
October 2005
5.95%
8,992
5,092
2,988
343
268
1,047
2,280
33
November 2005
5.94%
9,685
4,998
2,571
290
358
968
2,336
35
December 2005
6.10%
9,928
4,164
2,478
259
666
919
2,477
37
January 2006
5.77%
12,015
6,172
2,835
317
532
1,261
1,831
47
February 2006
6.07%
12,966
5,572
2,746
301
569
1,342
2,168
49

* Based on raw data from the MFRMLS Hotsheet reports. Refined figures may be found under Housing Statistics at orlrealtor.com

 

Theresa Johnston  

Cell
407-617-9068
Office
407-869-0033 ext.285
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Southern Realty Enterprises, Inc
2648 State Road 434 West
Longwood, FL  32779