Orlando’s  real estate market has really improved over the past 6 months.  Sales increased  but  it’s still hard to see the positive for the  excess inventory.  The numbers  are really eye opening when you compare  inventory from the five metro counties that make up Orlando. from 2009 to 2010. Last year’s  glut of  inventory  has been significantly reduced by  increased short sales and bank foreclosures  bought  by investors and first time home buyers. The silver lining in the Orlando real estate market continues to improve. Unsold  real estate is made up of single family homes, town homes, condos and multi-family homes in the 5 county area.  Inventory for the past two years is as  follows:

Unsold hosing inventory as of the end of June 2009
Orange County 18 months
Seminole County 19 months
Volusia County 22 months
Osceola County 18 months
Lake County 22 months

Unsold real estate inventory levels at the end of January 2010, represented in months.

Orange County 10.8 months
Seminole County 11.3 months
Volusia County 13.8 months
Osceola County 11.8 months
Lake County 14.4 months

Increased  sales of Orlando properties speak for themselves.  We’ve seen some amazing reductions for Orlando homes, town homes, and condos  for sale in  metro Orlando . The numbers represent averages and my not necessarily apply to upscale homes in the $500,000 and more range where  unsold inventory of luxury homes is much larger.   In Orange county a 40% improvement, in Seminole County a 42%,, Volusia County  37% , Lake County, 35% and in Osceola county 37% . Without any questions this did not come without a strong reduction of the average cost of a home, but as the supply of available homes becomes less the prices will stabilize as we have seen in some subdivisions or condo complexes.  It is a good time to buy because the prices are at an all time low.