It’s finally September! Kids are back in school. Many are looking forward to some relief from the months of heat. The peak real estate summer season is now officially over. Let’s take a look at some Orlando housing statistics. The latest compiled data we have below is tabulated after July (The final August data will be computed about mid-September).
For the purpose of this discussion, the two important columns to note are the Total Inventory and the Sales Closed. Total Inventory denotes the Supply. Sales Closed denotes the Demand. If you look back at the 18 months in the chart above, the continuous increase of Total Inventory is most remarkable. A graphical representation of the inventory level is below. As you can see, since April of 2013 the number of homes for sale in Orlando has been increasing steadily.
We have seen this before. When supply outpaces demand, the inventory level builds up. To be clear, we are still in a healthy real estate market, but it is a mature market, far from either extremes. In this type of market, a seasoned real estate professional is extremely valuable in helping you achieve your real estate goals. To sell a home in a mature market, the preparation, staging, pricing, marketing, and negotiation are more important than ever. To buy a home in a mature market, you need a seasoned agent to help you sort through the confusing & overwhelming inventory and pick a winner while negotiating a good price.
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