Wednesday, November 29, 2006

Florida Real Estate Statewide

As unsold homes hit records numbers, analyst predict prices will continue to decline. Almost 13,000 homes sold in October which is 22% less than October 2005. Anyalst predict buyers are waiting for prices to adjust, while sellers are cutting prices to compete with new construction incentives, a local Orlando Realtor reported. Despite the slow down in sale Orlando remains a valueable market to buy with the median price of a home increased 5% to $267,100. The median prices of a home in the state of Florida is $242,500 and nationwide $221,000 which decreased by 3.5%. Although 11 out of 20 Florida metro areas posted declines, many where in the double digits, with Ft. Meyers experiencing a median price decline of 44%. With many homes on the market, there are plenty of choices for buyers in the Central Florida Real Estate.
Courtesy of Orlando Sentinel 11/29/06.