Central Florida's Market Report for April 2012 (Part 2)Posted by Lee Cameron on Friday, June 22nd, 2012 at 8:16am.
Once again, the Orlando Regional Realtor Association (ORRA) recently released a report on the Central Florida real estate market in April (May is still on its way). As I mentioned in my previous blog, the numbers are encouraging.
Over the last year, the number of homes that go under contract has remained pretty consistent with the number of new listings. In April of 2012, there were 3,432 new listings and 3,497 new sales contracts written. These numbers have remained nearly constant over the past year. This means that homes are selling at close to the same rate that new homes are coming on the market.
There are more encouraging numbers. The average amount of days on the market for homes has dropped from 104 in April of 2011 to 87 days in April this year. Homes are selling faster. Additionally, the number of closed homes each month has stayed pretty constant over the entire year. Last April, 2,464 homes closed. This April it was 2,353, just a small difference. That rate has stayed pretty close throughout the entire year, except for a brief drop-off in the first couple months (historically, home sales are always slower in the Winter). Of course, ideally we would like to see those numbers increasing dramatically, but after the years we've had recently, just seeing them not dropping is a big step.
So there's pretty good news in this report. Homes are selling about as fast as they come on the market. The average days on the market is down. And the number of closed homes has remained consistent over the whole year. Things are looking up.
Be the first to comment on this blog entry!