Although we continue to see a drop in inventory in the Orlando area – it is at its lowest point since August 2001 – days on market have kept relatively stable over the past year. Moreover, the list to sale price ratio has also remained virtually unchanged since the last time inventory was this low. These types of factors show there is not “the mad dash to land a property before it’s gone” syndrome prevailing market wide as is being reported by some outlets. The fact is, lower rates and a low Affordability Index will continue to bring more and more buyers to our market, which will have an adverse effect on the inventory.
Orange & Seminole Counties*
Avg. Mtg. Rate Inventory New
Listings
Sales
Pending
Back on Market Expired Withdrawn
Sales
Closed
Avg. Days on Market
Mar.03
5.80%
7,868
3,283
2,133
403
355
678
1,678
62
Apr.03
5.95%
7,561
2,942
2,413
442
397
758
1,655
63
May.03
5.85%
7,610
3,293
2,412
411
326
728
1,706
62
June.03
5.54%
7,448
2,768
1,847
838
290
647
1,769
58
July.03
5.73%
7,267
3,531
2,598
421
325
779
2,002
60
Aug.03
6.78%
7,213
3,238
2,321
505
365
748
1,903
60
Sept.03
6.64%
7,247
3,095
2,108
305
353
731
1,859
59
Oct.03
6.29%
7,308
3,276
2,151
489
304
761
1,906
59
Nov.03
6.23%
6,973
3,266
2,424
236
269
777
2,254
60
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
Feb.04
5.45%
6,182
2,918
2,632
363
326
659
1,405
61
Mar.04
5.25%
5,634
3,444
3,387
372
268
696
2,081
59
* Based on Hotsheet reports and have not been purged. Truer figures may be found under Housing Statistics at orlrealtor.com
Membership March 2004 March 2003 Unemployment Rate Orlando MSA
ORRA 7,060 5,766 February 2004 4.3%
CFCRES 300 330 February 2003 5.0%
Affiliates 513 506
Applicants 326 183

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