Category Archives: foreclosures
Central Florida’s inventory of available homes for sale has been steadily increasing the past 12 months tipping the real estate market from a sellers market to a buyers almost over night.
Real estate value is still about supply and demand and with the increase of total inventory from 6,937 in March of 2013 to just over 12,000 in July of this year that’s close to double the amount of homes for sale in just 16 months. Today’s home buyers are taking their time sifting through listings and if you include new construction they have plenty of options and are playing that card during negotiations.
The good news for Doctor Phillips real estate and other sought after communities in Metro Orland Florida is that overall averages tend to be much higher. Real estate is local and about local cities, towns and communities. We saw this first hand when established communities like Doctor Phillips started to stabilize in 2010, a good year before outer areas hit bottom.
Today Doctor Phillips has a modest 224 single family homes for sale and out of this only 31 are distressed bank-owned and short sales, a far cry from the bottom of the market in 2009 when markets where flooded with then.