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There are a few trends to keep an eye on as we move on to the second month of 2004. As expected, sales continue to outpace the same month in the previous year (1,512 v. 1,197) and interest rates remain low and stable, meaning the market remains hot. However, note that inventory continues to be low, down more than 1,300 homes from last January. Less and less homes are being put back on the market, implying more homes are selling the first time around, and average days on market continue to be far less than a 90-day listing agreement.
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Orange & Seminole Counties*
|
Avg. Mtg. Rate |
Inventory |
New
Listings |
Sales
Pending |
Back on Market |
Expired |
Withdrawn |
Sales
Closed
|
Avg. Days on Market
|
|
Jan.03
|
6.39%
|
7,953
|
3,280
|
2,010
|
712
|
415
|
716
|
1,197
|
54
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Feb.03
|
6.04%
|
7,838
|
3,012
|
2,164
|
378
|
369
|
709
|
1,237
|
65
|
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Mar.03
|
5.80%
|
7,868
|
3,283
|
2,133
|
403
|
355
|
678
|
1,678
|
62
|
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Apr.03
|
5.95%
|
7,561
|
2,942
|
2,413
|
442
|
397
|
758
|
1,655
|
63
|
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May.03
|
5.85%
|
7,610
|
3,293
|
2,412
|
411
|
326
|
728
|
1,706
|
62
|
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June.03
|
5.54%
|
7,448
|
2,768
|
1,847
|
838
|
290
|
647
|
1,769
|
58
|
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July.03
|
5.73%
|
7,267
|
3,531
|
2,598
|
421
|
325
|
779
|
2,002
|
60
|
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Aug.03
|
6.78%
|
7,213
|
3,238
|
2,321
|
505
|
365
|
748
|
1,903
|
60
|
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Sept.03
|
6.64%
|
7,247
|
3,095
|
2,108
|
305
|
353
|
731
|
1,859
|
59
|
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Oct.03
|
6.29% |
7,308
|
3,276
|
2,151
|
489
|
304
|
761
|
1,906
|
59
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Nov.03
|
6.23% |
6,973
|
3,266
|
2,424
|
236
|
269
|
777
|
2,254
|
60
|
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Dec.03
|
5.38% |
6,522
|
2,280
|
1,992
|
307
|
474
|
585
|
2,082
|
61
|
|
Jan.04
|
5.38% |
6,605
|
3,403
|
2,619
|
306
|
305
|
682
|
1,512
|
66
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* Based on Hotsheet reports and have not been purged. Truer figures may be found under Housing Statistics at orlrealtor.com
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| Membership |
January 2004 |
January 2003 |
Unemployment Rate |
Orlando |
| ORRA |
6,593 |
5,446 |
December 2003 |
4.2% |
| CFCRES |
312 |
330 |
December 2002 |
4.7% |
| Affiliates |
572 |
494 |
|
| Applicants |
314 |
213 |
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