Home Sales Strong: Summer Frenzy becoming a Fall Harvest

To date this year home sales are up 31% over 2009! June 2010 saw a large spike in sales, prior to school starting. (The line graph below shows number of sales for the past year.) During the past year prices hovered with minimal fluctuation at some of the most affordable prices in 12 years. (See bars on graph below for prices).These low prices combine with low interest rates to make it a buyer’s market. The inventory remains in the 6-7 month range. Potential buyers have stepped out of the sidelines and into the game.

Can you sell your home in this market?

691 homeowners in the greater Orlando area sold their home in September (not short sale, not bank owned). That represents 28% of home sales. You can too.

No doubt, some buyers are looking to scoop up a rock bottom price from a foreclosure. But many buyers are getting fed up with the short sale waiting game and are now seeking move-in ready homes. This makes traditional sales attractive, as long as the price differential from distressed sales is not too great, and the home is in good condition.

For your home to sell in this market it needs to be in top condition and marketed by a real estate agent who provides superior quality and maximum exposure. With a September absorbtion rate of 14.7, meaning 14.7% of all the homes for sale actually sold in the month of September, pricing is extremely important. Price your home to sell, as one of the top 3 best priced homes out of 20 comparable homes.