Happy July! We are at the half way point through 2015. So far this has been a very robust and healthy market. Lots of homes have been coming on the market (averaging 4,269 new listings per month) and lots of homes have been sold (averaging 2,753 homes per month). Homes that are less than ideal or overpriced do exit the market through listing expiration or withdrawal. In balance, there is still a net increase in the number of homes for sale.
The chart below shows the month-to-month number of homes for sale by ORRA (Orlando Regional Realtor Association), going from the latest tallied data (May 2015) back for 3 years (May 2012).
As you can see, we have been holding steady in a range between 11,000 and 12,000 homes for sale. This speaks for the stability of the market. It does seem the inventory level is flirting with the 12,000 point again, but fluctuations are very gradual. Again, this is a great time to buy and a great time to sell. In a balanced market, neither side has one-sided leverage. You can really benefit from expert guidance on buying or selling. As when a market is stable, it is also competitive. Sellers are competing with other sellers, and the buyers are competing with other buyers. The guidance and negotiation skills of a good agent can definitely tip the favor towards you.
We are right in the middle of the peak season. Since the schools got out, buyers have been roaming the market. Relocation buyers are flying in every day to find homes. We expect this to continue through July and begin to slow down in August as schools start back up again.
Hope you are enjoying your summer. Until next month, take care!