Under the suppositions and limitations of the foregoing we can look at the Orlando FL Condo data for this year to date.
Selling Price as percent of List Price
Month Average Median
Jan. 94 95
Feb. 94 95
Mar. 94 95
Apr. 96 97
May 96 97
Jun. 97 98
Jul. to date 100 100
Perhaps the increase in the median value, for example, looks small at this point but a trend does seem to be starting. Most trends are easy to identify when they are full blown and obvious but hard to recognize in the very early stages.
In the above data we may be seeing the very early stage of a recovery trend. Many bank owned properties are getting multiple offers in the current market and prices are being bid up just by the number of interested buyers. We’ll have to keep our eyes on the Orlando FL Condo data for August to see whether we are seeing a trend or a mirage.
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