January Market Report for Home Sales in Orlando

The median price of Orlando homes sold in January ($148,274) decreased by 33.06 percent compared to January 2008 while the area’s average interest rate dropped to its lowest point since May of 2005, creating market conditions that further tilt in favor of buyers. All the indicators point to another month of good news for the market recovery.

Inventory is down, under contracts are up, sales closed are up, and days on market are down. All of these are positive market indicators. This is the 5th month of positive news for home sales.These numbers prove that the market is moving and sales are improving.   
  
                
                                       Interest Rates      Inventory     Contracts    Days on Market

January 2008               5.60%                      25,724            1,731                 117*
February 2008            5.87%                       25,984            2,175                123*
March 2008                 5.94%                       25,472            2,398                128*
April 2008                    5.77%                       25,436            2,853                120*
May 2008                    5.94%                       25,015            3225                 115*
June 2008                   6.35%                       24,575            3,329                121*
July 2008                    6.40%                      24,742            3,258                116*
August 2008               6.39%                      24,834            3,220               113*
September 2008        6.00%                     24,690            3,256                112*
October 2008             6.30%                      24,657            3,316                110*
November 2008        6.00%                      24,408           3,326                108*
December 2008        5.40%                       22,524           3265                 107*
January 2009           5.28%                        22,613           3,830                104