The inventory of homes available for purchase in the Orlando area displayed its greatest percentage of decrease yet in 2018, contributing to a second consecutive month of slower sales. However, buyer demand is continuing to boost the area’s median price.

The overall median price of Orlando homes (all types combined) sold June is $239,180, which is 6.8 percent above the June 2017 median price of $223,950 and 2.7 percent above the May 2018 median price of $233,000. 

Check the video below for ORRA HOUSING MARKET REPORT – June 2018

The median price for single-family homes that changed hands in June increased 6.8 percent over June 2017 and is now $260,000. The median price for condos increased 13.6 percent to $125,000.

Sales of single-family homes (2,672) in June 2018 decreased by 11.8 percent compared to June 2017, while condo sales (408) decreased 11.1 percent year over year.

The overall inventory of homes that were available for purchase in June (7,558) represents a decrease of 17.3 percent when compared to June 2017, and a 1.0 percent increase compared to last month. There were 16.1 percent fewer single-family homes and 22.6 percent fewer condos.

Current inventory combined with the current pace of sales created a 2.2-month supply of homes in Orlando for June. There was a 2.35-month supply in June 2017 and a 2.2-month supply last month.

The average interest rate paid by Orlando homebuyers in June was 4.61, down from 4.64 percent the month prior.

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