Check the video below for ORRA HOUSING MARKET REPORT – August 2018
The overall median price of Orlando homes (all types combined) sold July is $235,000, which is 6.8 percent above the July 2017 median price of $220,000 and 1.3 percent below the June 2018 median price of $238,000.
The overall inventory of homes that were available for purchase in July (7,525) represents a decrease of 16.9 percent when compared to July 2017, and a 0.4 percent decrease compared to last month. There were 15.3 percent fewer single-family homes and 14.8 percent fewer condos.
Current inventory combined with the current pace of sales created a 2.2-month supply of homes in Orlando for July. There was a 2.2-month supply in June 2018 and a 2.7-month supply in July 2017.
The average interest rate paid by Orlando homebuyers in July was 4.59, down from 4.61 percent the month prior.
Year-over-year increases in median price have been recorded for the past 85 consecutive months; as of July 2018, the overall median price is 103.5 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in July increased 6.3 percent over July 2017 and is now $255,000. The median price for condos increased 10.4 percent to $127,000. For More Information Click here