REALTORÂ® Rick Arbutine, an expert in the luxury Orlando real estate market, says the recently released Orlando market report shows a 20% reduction in home inventory since last year, leading to a 25% rise in home prices since a year ago.
Online PR News – 18-April-2013 – ORLANDO, Fla. – ORLANDO, Fla. - Orlando Florida real estate agent Rick Arbutine, who last year predicted real estate sales growth in the Orlando market for 2013, says his predictions are happening as expected so far this year.
Arbutine says inventory of Orlando homes for sale has contracted nearly 20% since a year ago, leading to a shortage of homes available compared to demand from buyers. He says these conditions have led to a 25% rise in average home price and home sales during that time.
"There's clearly not enough Orlando real estate inventory to match up with the buyers we have available in the market. That has led to a steady rise in prices, bringing some confidence to buyers and drawing more sellers into the market," he said.
According to Arbutine, the drop in home inventory levels is even more dramatic when you compare the numbers to 2011.
"The number of Orlando homes on the market has dropped an incredible 55% since March 2011, going from 12,533 to only 6,937 homes," he continued.
He notes that for Orlando homeowners who may have been considering selling their home, especially if it's a waterfront, luxury, or golf course home, a tightening inventory may provide the perfect time to do that.
"My experience tells me that there are many market factors that are working in sellers' favor at the moment."
He also notes, however, that buyers have many reasons to act, because if prices continue to rise as they have over the past year, they might have to buy at higher prices later in the year.
Asked if current market conditions are better for buyers or sellers, Arbutine is quick to note that there is enough good news to make both sides happy.
"With the increasing prices, buyers have fewer reasons to sit on their hands, and sellers have additional incentives to consider putting their home on the market," he said.
"There is a real chance that demand can accelerate as long as inventory stays low, bringing more confidence to buyers who may have been waiting on the sidelines for signs of stability."
"More confidence is always a good thing," Arbutine said.
About Rick Arbutine REALTORÂ®
Rick Arbutine is a REALTORÂ® and expert in buying and selling Orlando luxury properties, including Walt Disney World and the surrounding communities of Longwood, Lake Mary, Windermere, and Sanford. A top agent with Charles Rutenberg Realty, Arbutine is known for introducing his clients to Orlandoâ€™s most exclusive communities, helping them explore the million dollar listings that define the Orlando's luxury real estate market.
The level of real estate client served by Arbutine expects and gets exemplary service. Arbutine has extensive experience in high-end homes and a deep understanding of the caliber of professional service and personal attention it takes to satisfy his clients. He is an attentive agent who is committed to always being available to answer questions, manage solutions to challenges that may arise during a transaction, and provide guidance. In addition, his team will insure that each transaction is complemented with a comprehensive selection of tools, resources and support staff.
Rick Arbutine, REALTORÂ®
Charles Rutenberg Realty
1900 Summit Power Blvd.
Orlando, FL 32810