Dr. Phillips, Florida current real estate market conditions

Dr. Phillips community is located in Orlando and has a fantastic location as it is close to all major highways, International Drive, major attractions and has fine dining and shopping. Dr. Phillips has older and established neighborhoods as well as an infusion of newer homes and communities.

Currently in Dr. Phillips, Florida there are 147 properties for sale. Out of which: 84 are single family homes, 8 are town homes and the remaining 40 are condos.

Out of 147 properties for sale: 8 properties are bank owned, 26 properties are short sales and 113 properties are regular listings.

In 2011, 638 homes were sold in Dr. Phillips, Florida. Out of 638 homes, 161 properties were bank owned, 196 properties were short sales and 281 properties were regular sales. 26 percent were foreclosures. 31 percent were short sales and 43 percent of the sales were regular sales.

In the first three quarters of 2012, January to September, there were 420 properties sold and only 85 sold bank owned properties versus 108 short sale properties. The rate of sold foreclosures was lower than the rate of short sales. 227 regular properties sold which shows that the foreclosure rate has been going down 50% from 2011 and the short sale rate about 30%.

If you are looking to buy in Dr. Phillips, Florida now is the time. Dr. Phillips real estate market shows a great improvement since 2011. If you are thinking of short selling your home, please give us a call. Towns Realty has the short sale experience having negotiated and sold over 400 properties.

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