Tuesday, June 6, 2006
What A Difference A Year Makes!
OK, I really like numbers & stats. Granted, they are not everything, but they do portend the current situation. So, I was just checking some stats for a project that I'm working on. Presently, there are 12,971 available single-family homes, condos, townhomes & villas in Orange & Seminole Counties. Last year at this time, there were 3710 available properties listed in the MLS in the Greater Orlando area, not just the two counties. Right now we have almost a 7 months supply of inventory compared to 1.19 months last June. Additionally, at that time it took approximately 27 - 30 days on the market. Today, the average is over 50 days on the market. This is just some information. Make your own conclusions, but take into consideration that we are still in a healthy housing market. The supply just greatly outranks the demand. But, the sales volume of sold homes is at pace or ahead of the previous couple of years. Thus making, at this point, 2006 a very strong year.