Osceola ReVIEW - February 2009 - (Page 2) President’s Perspective By Sean Ferguson OSCEOLA 2008 MARKET STATISTICS While there is plenty of negative news going around, I figured I would share some positive news with you. OSCAR has made tremendous advancements over the last few years in data tracking. I challenge every agent to not only understand these statistics but to communicate them to their family, friends and customers. Below are some final market statistics for 2008. • The Mid-Florida Regional Multiple Listing Service (MFRMLS) statistics reported that the Osceola Association of REALTORS® reported 2,426 property sales in 2007 and property sales of 2,978 in 2008. This equates to a 22.75 percent increase in 2008 property sales, when compared to 2007 figures. Osceola’s housing market has shown an upwards trend and increase in monthly sales for each of the last eight months in 2008, when compared to the same monthly periods in 2007. Osceola reported 319 December 2008 property sales, or an increase of 103 percent, when compared to December 2007 monthly reported property sales of 157. • The increase in property sales numbers appears to be attributed, in part, due to the affordability of housing. In December 2007, the monthly Average Sales Price (total sales dollar volume/number of sales) in Osceola County was $227,501. As of December 2008, the same monthly Average Sales Price had dropped to $152,504, which equates to a monthly Average Sales Price reduction of $74,997, or 32.96 percent decrease in one year. • Median Sales Price (one half property sales prices higher, one half property sales prices lower) figures confirm the price decrease trend. In December 2007, the monthly Median Sales Price in Osceola County was $210,000. In December 2008, the monthly Median Sales Price dropped to $135,000, representing a decrease in monthly Median Sale Price of $75,000, or a 35.71 percent decrease in one year. • Pending Sales statistics (properties under contract, but not yet sold) show another promising trend. At the end of March 2008, Osceola reported 348 Single Family Housing properties under contract. By the end of December 2008, Osceola reported 661 such properties pending sale, or an increase of 89.94 percent. 2 ReVIEW • In December 2007, Osceola housing spent an average of 147 days on the market. In December 2008, Osceola housing spent an average of only 107 days on the market, or a 27.21 percent decrease in average days on the market from 2007. • While the current inventory levels remained comparatively the same during the year, the month’s supply in inventory (number of properties on market/number of sales for that period) had dropped significantly due to the increase in sales numbers. In December 2007, Osceola had 5,633 properties in inventory and an average month’s supply of 35.88. In December 2008, Osceola still had 5,552 properties in inventory, but average month’s supply dipped to 17.40. The Osceola Statistics above show that the housing market trend is showing positive signs of rebound. However, one must be prepared for the new challenges in obtaining financing and the new complexities of closing the sale when dealing with foreclosure and short sale properties. For these and many other weekly, monthly, or yearly statistics, please go to our website at www.OsceolaRealtors. org and click on the statistics button on the left hand side of the home page. Please note: reported sales are dependent upon timeliness of sales and totality of information reported by MidFlorida Regional Multiple Listing Service (MFRMLS) participants. The data reflects only the sales published through the MFRMLS and does not include all sales in the reported areas. Neither the Association nor the MFRMLS is in any way responsible for its accuracy. ■ Realtors® Real Knowledge Real Service Real Value Osceola February 2009 http://www.OsceolaRealtors.org http://www.OsceolaRealtors.org
Table of Contents Feed for the Digital Edition of Osceola ReVIEW - February 2009 Osceola ReVIEW - February 2009 Osceola ReVIEW - February 2009 - (Page Cover1) Osceola ReVIEW - February 2009 - (Page 2) Osceola ReVIEW - February 2009 - (Page 3) Osceola ReVIEW - February 2009 - (Page 4) Osceola ReVIEW - February 2009 - (Page 5) Osceola ReVIEW - February 2009 - (Page 6) Osceola ReVIEW - February 2009 - (Page 7) Osceola ReVIEW - February 2009 - (Page 8) Osceola ReVIEW - February 2009 - (Page 9) Osceola ReVIEW - February 2009 - (Page 10) Osceola ReVIEW - February 2009 - (Page 11) Osceola ReVIEW - February 2009 - (Page 12) Osceola ReVIEW - February 2009 - (Page 13) Osceola ReVIEW - February 2009 - (Page 14) Osceola ReVIEW - February 2009 - (Page 15) Osceola ReVIEW - February 2009 - (Page 16) Osceola ReVIEW - February 2009 - (Page 17) Osceola ReVIEW - February 2009 - (Page 18) Osceola ReVIEW - February 2009 - (Page 19) Osceola ReVIEW - February 2009 - (Page Cover4)
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