As expected Central Florida’s real estate market is continuing to improve and build on the past 12 months of decreased inventory of homes available and especially the bank owned (REO) and short sales. This is especially good news going into our Spring real estate market, typically when more buyers enter the market and I should say good news for sellers.
Buyers will find going into Spring and Summer if they do find a home price attractive they will most likely be in a multiple offer situation.
The Market Pulse is reported by Orlando Regional Realtor Association (ORRA) and are the numbers ending February 2013.
Highlights from Orlando Real Estate Pulse:
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Inventory of available homes at 7,183 is the lowest since October 2007 when there were 26,330 properties for sale
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Interest rates are still at all time lows at 3.21%
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Closed homes are staying strong at 2,203 for the month of February
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Out of the 2,203 Closed Sales 521 were Bank owned, 487 Short Sales and the good news is 1,195 were regular sales, 54.24% of all sales in February.
