October 30^th 2009

Oviedo is located on the Eastside of Orlando and is part of the Orlando Real Estate MLS and hometown for UCF and the UCF Knights. If you are moving or being relocated to Orlando because you are being employed by one of the bio-medical companies in the Lake Nona area, Oviedo might be a great choice because of its great location and outstanding school system. You can travel via the 417 Beltway right to the Lake Nona Exit, and the Orlando International airport is not too far away.

The Oviedo’s real estate market had a very strong sales month in October compared to September by a 61% increase in sales. 57 single family homes and 14 condos and or villas where sold during the prior month of October. Sales volume has increased by 18% compared to the same month of the prior year where only 60 units were sold compared to 71 units this year. The average price of a property was $217,243 which was an 8% drop in price over the same month of the prior year, but a 14% increase over the September month. Because of the strong October sales the inventory time based on October sales has dropped to 7.9 months, a significant decrease over the prior month.


Currently there are 565 properties for sale in Oviedo, 20 more compared to last month, 441 are single family homes at the average price of $291,541, 151 are condos and or villas and duplexes at the average price of $128,834. Prices will continue to be depressed as the bank owned and pre-foreclosure properties are driving the market frenzy. As of the end of October there were 44 bank owned properties for sale in Oviedo, the highest priced bank owned home is at 5740 Carolyn Dr. Oviedo, Fl. 32765 subdivision listed for $449,900 and there are 213 short sales single family homes and or condos, the highest priced short sale is 350 Valley Stream Dr. it is listed at $990,000 in the Sanctuary subdivision. Over 45 % of the inventory in Oviedo is in distress which will play a significant role in the future in terms of property values.

Orlando Area Real Estate - Click here to access the Oviedo MLS

The subdivisions with the highest sales were as follows:

8 VILLAS AT LAKESIDE

6 ALAFAYA WOODS

3 SANCTUARY

3 SANCTUARY

2 CLAYTON CROSSING TOWNHOMES

2 LIVE OAK RESERVE

2 REDBRIDGE AT CARILLON

2 RIVERSIDE AT TWIN RIVERS

2 ROANN ESTATES

2 TWIN RIVERS

2 VILLAGES AT KINGSBRIDGE

2 WAVERLEE WOODS

If you are looking to buy in Oviedo or if you are in foreclosure and want help to stop a foreclosure and need to do a short sale go to foreclosure and if you want to buy a foreclosure, where you will find MLS access.

E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it or call Gitta at 407-330-2181 for any real estate assistance.