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FannieHillman.com | 7 HillmA n HOMES | M A r k E t r E p O r t s summer ends and we look ahead to the busy fall season, the market continues to feed off the positive momentum that was established during the first six months of 2015. Home buyers are taking advantage of low- interest loans, greater inventory, and buying homes before a greater surge occurs in pricing. This summer, Orlando area home sales set a new record, thanks to a leap in "normal" transactions. According to the Orlando Regional Realtor Association, home sales surged more than 21% over June 2014, the highest number recorded (3,435) since the organization started tracking figures. In addition to skyrocketing sales, the median price for existing homes sold in the same month increased by 7.73%. Even more good news was reported in the core areas that Fannie Hillman + Associates represents. Existing home sales in Winter Park, Maitland, College Park, Baldwin Park, Colonialtown and Downtown Orlando were up 22.2% over the first six months last year. In addition, median home prices were up in some areas and showed signs of stabilizing in others, distressed properties continued to be moved off the books, and the median number of days homes were on the market was up slightly in many locales and down in others. What do these numbers mean in today's market? The Central Florida real estate market continues to gain strength and stability. We are experiencing a healthier and balanced market, which translates to a gradual but sustained recovery over the next four months and beyond. When we break down the figures further, single-family home transactions were up 24.5% and condominium transactions, which had struggled last year, were up 18.1%. Most of this activity was concentrated in the $250,000- $499,999 price range, while homes priced under $250,000 sold the fastest, with a median of just 34 days on the market. The most active neighborhoods are the most popular ones — overall transactions were up 41% in Baldwin Park and 37% in College Park. Lakefront homes in Maitland and downtown Orlando showed the largest gains in single-family home transactions, while condominium sales performed best in Colonialtown and Baldwin Park, with median prices rising 24% and 13% in these areas, respectively. The local market also shows a healthy inventory of existing homes for buyers. The current inventory reveals a 3.5-month supply of homes, down from 3.71. The number of homes available for purchase in June was 4.69% higher than a year ago, and now rests at 12,058. Inventory increased in number by 260 properties over last month. While numbers continue to reveal a great deal about market conditions, consumer confidence is the most telling. From our perspective, consumers will continue to be the driver behind the positive momentum in the market, with no signs of slowing down this fall. All Signs Point Up In Orlando's Real Estate Market A COnsuMErs WiLL COntinuE tO BE thE DrivEr BEhinD thE pOsitivE MOMEntuM in thE MArkEt, With nO siGns Of sLOWinG DOWn. Bar graph courtesy of the Orlando Regional Realtor Association

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