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Sales for single family homes in Seminole County appear to be continuing their slide downward with no end in site. My most recent survey of MLS data reveals the following in Seminole County

Listed in 8/2007:    672 Unit

Sold in 8/2007        302 Units

Median Price:        $300,000

Now for September's most recent data:

Listed in 9/2007:    700 Units

Sold in 9/2007:        207 Units

Median Price:         $254,000

This is a disturbing trend. More homes are being listed from month to month and sales are declining throwing more homes into the market. The result is more competition and a shrinking median price as the evidence suggests. This spells trouble for home values and for appraisers. With less and less equity homeowners are less inclined to either sell or refinance, two major reason why appraisals are requested.