In the Central Florida area in the month of February 2011

Inventory was  13,480
Unit Sales 2,085
Pending Sales 9,233
Average Days on Market 99
Average Sales Price vs. Original List Price: 94.47%
The current pace of sales translates into 6.47 months of supply; January 2010 recorded 8.14 months of supply.

Months of inventory is used as an analytical tool in determining who holds the power in negotiations. Months of Inventory = # homes for sale/# homes sold
Supply and Demand
Months of Inventory <4 = Sellers Market
Months of Inventory =4 = Flat Market
Months of Inventory >4 = Buyers Market

With 8.14 months of supply we are currently in a Buyers Market.
This number is determined by examining at the rate of which homes are selling today, how many months would it take for all homes currently available for sale to be sold if there were no more homes to enter the market.

Median Sales Price in Central Florida:
Normal Sale $155,000
Short sales $98,000
Bank-owned $74,000

First-time homebuyer affordability in February decreased to 195.23 percent since January 2011.

Central Florida Market Statistics February 2011

In Seminole County Sales were: 16.88 percent above February 2010

The Orlando Condo Inventory is now 43.40 percent lower than it was in February 2010

For further information on affordability of the current Real estate market, follow the link to find out about our monthly Home Buyer Seminar and attend a no cost, no obligation educational event.

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here.