Market Conditions for Orlando, Florida Reported by Gitta Urbainczyk, P.A., REALTOR Updated November 25, 2009.

Current Market Rating: 1 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 1 1 2 3 4 5 Falling Rising

Call Gitta at 321-303-3349 to buy a home now, or go to
http://blog.greaterorlandohomes.com or access Gitta's Orlando relocation guide at www.greaterorlandohomes.com

Is Orlando Real Estate Market doing better in real estate sales compared to last year?

Yes! Are we out of the woods yet? Not by a long shot. We currently have 15 months of unsold homes, condos, town homes, and luxury homes in our housing inventory a total of 12,003 unsold Orlando Real Estate properties. 3,300 are condos 6,646 are in some kind of foreclosure process, short sales, bank owned, or corporate owned, in foreclosure. There are 3,677 in pending statues which is an improved number which is great, and a total of 4,800 properties changed hands in the past 6 months, 3,260 were distressed sales and the average day on the market was 132 days and the average price per sqf. was $78.87. Compared to last year were we sold only 2,787 Orlando Real Estate properties during the same time period and the per sqft. price was $137.61, things are looking great. However, the additional sales came at a steep average price decline of 43% . There are great deals to buy and this is a buyer market and in some lower priced areas we may have hit bottom, and there are bidding wars, however in the upper market we have ways to go. For instance, there are 346 properties for sale in $750,000 plus range and there we only 32 sales in the past 6 months, 86 last year and there is 69 months of unsold inventory however prices have only declined by 11% over prior year, and this is were we are going to see the next level of adjustments coming. Gitta's real estate team is here to help you to find great deals, call us at 800-779-6752. Or find some of the best deals by going to our Free 24hr Real Estate Hotline

We are also blessed with great weather and relative low unemployment, a diversified workforce, and a lot of future life-science industries that are pouring into this area Orlando.

The city is in the top 20 media markets in the country and is home to plenty of tourist attractions. Of these, most notable are Disney, Epcot, SeaWorld, and Universal, just to name a few. It is also centrally located. Just a 45-minute drive is all it takes to reach the east coast of Florida, including its beautiful beaches and most notably, Cape Canaveral. Home of NASA's Kennedy Space Center, residents and visitors alike can experience tours and frequent Space Shuttle launches. Around 60 minutes in the opposite direction and you'll find yourself on the west coast, with its equally beautiful beaches and the city of Tampa.

The Orlando metro is huge in terms of a population area. Its downtown district is also going through a facelift, seeing new sky-rises and developments go up frequently. There is also a future redevelopment plan in the works that includes a new sports arena, a performing arts center, and renovations to the Citrus Bowl. Sports fans can enjoy professional NBA basketball as Orlando is home to the Orlando Magic. Orlando is also home to arena football, soccer, and occasional nationally recognized bowl games.
Orlando is also serviced by the largest International airport in Florida, and is sprawling with businesses and developments.


ZIP Codes: 32801, 32802, 32803, 32804, 32805, 32806, 32807, 32808, 32809, 32810, 32811, 32812, 32814, 32815, 32816, 32817, 32818, 32819, 32820, 32821, 32822, 32824, 32825, 32826, 32827, 32828, 32829, 32830, 32831, 32832, 32833, 32834, 32835, 32836, 32837, 32839, 32853, 32854, 32855, 32856, 32857, 32858, 32859, 32960, 32861, 32862, 32867, 32868, 32869, 32872, 32877, 32878, 32886, 32887, 32890, 32891, 32893, 32896, 32897, 32898, 32899

Approximate Location Boundaries: North of Central Florida Greenway and South of Winter Park. East of the Florida Turnpike and West of Central Florida Greenway.

Location Characteristics: Today, Orlando incorporates outlying neighboring towns such as Winter Park (developed as a winter home in the 1860's for wealthy northerners), Kissimmee, Altamonte and Winter Gardens.

Walt Disney wasn't the first person to build a tourist attraction. Dick Pope, Sr. is credited with that with the opening of his 1936 Cypress Gardens. (reopened in 2003 as the Cypress Gardens Adventure Park).

Disney's Magic Kingdom Park opened in 1971, followed by Sea World in 1973, and then Universal Studios in 1990.

Central Florida continues to grow, attracting families to enjoy its warm climate, attractions, shopping and dining venues and hotels. It's also become a center for business conventions and meetings that allow attendees to bring their families, combining business and pleasure. Disney also features cruises from Port Canaveral in conjunction with its land-based attractions.

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