Orlando housing market closes out 2018 with an increase in annual median price, decrease in annual sales
Orlando’s annual median home price for 2018 ($232,500) is 5.7 percent higher than the 2017 annual median price ($220,000) thanks to another 12 consecutive months of year-over-year price increases, according to the Orlando Regional REALTOR® Association’s year-end report.
Orlando home sales completed during 2018 racked up a final tally of 36,048, which is 3.2 percent below the cumulative sales total of 37,237 for 2017. By comparison, annual sales in 2017 were 3.9 percent greater than in 2016.
The overall median price of Orlando homes (all types combined) sold in December is $232,750, which is 1.2 percent above the December 2017 median price of $230,000 and 0.1 percent below the November 2018 median price of $233,000.
Year-over-year increases in median price have been recorded for the past 90 consecutive months; as of December 2018, the overall median price is 101.5 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in December increased 3.7 percent over December 2017 and is now $254,000. The median price for condos increased 10.5 percent to $132,000.
Homes that closed in December took an average of 56 days to move from listing to pending and took an average of 92 days from listing to closing.
Pending sales in December are down 15.3 percent compared to December of last year and are down 10.6 percent compared to last month.
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