Bill the Broker Blog

This just in from Nick Pilz at Appraisal & Consultant Services, Inc.

“Well year end data is up on the ORLRealtor.com website.

Here is what is interesting:

40% of sales occurring in Orlando were between $200,000 and $300,000

Sales were down 36.43% for the Month of December (2005 vs 2006)

Year to date 2006 sales were down 12.33% (this should have been expected and honestly isn’t as bad as it could be)

Year to date 2006 % Change in median home sales price up 7.36% (this was driven by a strong 1^st quarter which we will not have in 2007)

December % change over December % change 2005 is up 4.21% which is the best in 6 months (but this is only because December 2005 fell 4% so if we adjust then there was a mere .21% change)

So we have a 7.36% growth year to date in Central Florida Real Estate with an inflation rate of about 4% or an adjusted 3.36% growth”

You can check out the entire report here.

According to Nick, over the past 2 months the average home resale, that is sale of a home that is not new construction and is listed on the MLS in Orlando, has taken on average 100 days to sell.