In the Central Florida area in the month of January 2011

Inventory was  14,398
Unit Sales 1,950
Pending Sales 8,777
Average Days on Market 96
Average Sales Price vs. Original List Price: 90%
The current pace of sales translates into 7.38 months of supply; January 2010 recorded 8.74 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 7.38 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 $145,000
Short sales $94,500
Bank-owned $75,000

First-time homebuyer affordability in January increased to 197.98 percent since December 2010.
First-time buyers who earn the reported median income of $36,383 can qualify to purchase one of 6,193 homes in Orange and Seminole counties currently listed in the local multiple listing service for $159,783 or less.

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

Central Florida Market Statistics

In Longwood East (zip code 32750) 19 homes were sold in January 2011, the average price was $129,482, 4 of those sales were bank owned and 4 were short sales.

In Longwood West (zip code 32779) 20 homes were sold in January 2011, the average price was $228,523, 9 of those sales were bank owned and 6 were short sales.

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.