Orlando Median Home Price Increases In March

Orlando Median Home Price Increases In March

Orlando's median home prices rose six percent in March when compared to this time last year. Sales held steady with a one percent increase, reports the Orlando Regional REALTOR® Association. The available home inventory dropped by 10 percent from March 2017. 

The median price for all types of Orlando homes went up to $230,000, which is a 5.5 percent increase from March last year. March is the 81st consecutive month for year-over-year price increases.  Single-family homes that changed hands in March increased to $249,900, a 6.3 percent increase over March 2017, while condo prices increased 19.4 percent to $122,900.

Sales of distressed homes (foreclosures, and short sales) decreased from last year by 57.7 percent to 115 in March this year compared to 272 in March 2017.

The overall inventory of homes for sale decreased by 9.7 percent or 7,710 when compared to March last year.

The average interest paid by Orlando homebuyers was 4.29 percent, down from 4.39 percent in February.

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Statistics courtesy of the Orlando Regional Realtors® Association

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Phone: 407-963-5499
Dated: April 21st 2018
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