As expected, Orlando saw pretty big drop in sales last month due to the COVID-19 pandemic. We saw lower sales and lower inventory as buyers and sellers alike followed the safer at home order. Sales dropped by 28%, and inventory continued its long decline dropping by 3%. The one interesting statistic was the increase in the median price by 12%. I suspect job losses and furloughs disproportionately effected buyers in lower price ranges, pushing the median sales price up. The moratorium on evictions may also have kept some investors from being able to sell rentals that are often in the lower price ranges.
Check out this brief video breaking down the #OrlandoRealEstate market results for April 2020.
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