The growth in the number of homes listed by Realtors in the Orlando area slowed in April, but the median price dipped from the same month a year ago.
The Orlando Regional Realtor Association said the decrease put the median price of homes sold at $241,000, down 3.11 percent from April 2006 when the market was still hot. But that was up from $240,000 in March, when the median fell sharply.
For sellers, the growth in the inventory to a record 24,435 homes, up by another 888 listings in April, means more competition. But the dip in the median price and the large selection gives buyers even more bargaining power and reduces the pressure "to make quick decisions," said Randy Martin, president of the Orlando Realtor trade group.
Martin said the local housing market appears to be "seeking a middle ground" between buyers and sellers and noted that the growth in inventory slowed from March, when another 1,492 homes and condos posted for-sale signs.
The 30-year mortgage loan rate average also remained below 6 percent during the month, at 5.93 percent, another helpful factor, Martin said.
The number of homes sold in metro Orlando ? Lake, Orange, Osceola and Seminole ? fell 41.4 percent from April, 2006, and year-to-date sales were down 35.1 percent. Orange County sales were off 44.4 percent, Seminole's fell 36.6 percent, Lake was down 30.3 percent and Osceola fell the most, at 47 percent. Courtesy of Orlando Sentinel 5/10/07.
