March 2006 monthly update on Real Estate trends and conditions in the Central Florida area.

This issue brings with it yet another record for home sales, this time featuring 2,168 homes sold in February. The previous record for the month was 1,988 set last year. Days on market are about where they were last year, albeit a little higher, and the median price in February – $241,250 – is down a bit from January. It is, however, 23% higher than last February ($196,000), which was the last time Orlando saw a median price below $200,000. Pending sales are down a tad from last month and from last February, although they have risen from the lows experienced in November and December. As you know, we must continue to watch the rising inventory, which is close to 13,000, the likes of which Orlando has never seen before.

Prior month's information