Jerry W. Jackson | Sentinel Staff Writer
November 10, 2007
The slowdown in Orlando-area home sales showed signs of taking a slight breather in October.
The local Realtors association reported Friday that the median sales price held steady in the core Orlando market, even though the number of homes sold was down 45 percent from a year earlier.
The median price of $235,000, though 7.4 percent lower than the median price in October 2006, was unchanged from the Realtors’ revised September figure. The number of homes available for sale in the Orlando Regional Realtor Association’s database, while setting another record high, was up only 20 homes from September, to 26,330 properties.
“We’re starting to get some traction,” said Steve Moreira, newly installed president of the Orlando Realtor association. “By the second quarter, we will be in play again. Not back to 2,600 [home sales] a month, but substantially more in 2008 than in 2007.”
The group reported a preliminary sales total for October of 1,034 single-family homes and condominiums, down sharply from 1,896 in the same month last year. Through the first 10 months of the year, sales are running 27 percent behind last year’s and 44 percent behind 2005’s record-setting pace. The data collected by the Orlando Realtors are for the group’s core market, which consists mainly of Orange and Seminole counties but includes some sales in neighboring counties.
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http://www.orlandosentinel.com/business/orl-homes1007nov10,0,447236.story
