Here is a break down of Months Supply of Inventory for Orlando Fl. This break down by month from August 2013 to August 2012 will show you the number of properties on the market the last day of the month, number of properties under contract, MSI - Months Supply Inventory, and Under Contract - Avg. Days on Market.
As you can see below on the graph, the # of properties for sale has steadily decreased over the last year and is currently is 3,943 homes. As of August 2013 pending homes are 1,495, an increase of 26% over August 2012. The pending has gone up because we have a lot of short sales in the market that are pending but still waiting for bank approval. The avg days on the market for these Pending homes has dropped from 134 days in Augus 2012 to 73 days in August 2013 or a 45% drop. So, the Avg Pending days has decreased as homes are selling faster than this August 2013 than August 2012. The MSI or the Month Supply Inventory has dropped to 2.6 months.
If you are thinking of listing your home for sale in the summer season then I would tell you that this is the best time to put your home on the market. The prices are gradually going up as the inventory on hand is going down, so as supply and demand will dictate the prices will be rising. Call Wendy Morris direct at 407-575-5392 from Wendy Morris Realty to help you market your home.