Orlando Home Prices and Listings Increase - Team Henderson
Prices and Listings Increase
Orlando home sale prices rose in February, following a January plunge. The number of homes listed for sale has continued growing. According to the Orlando Regional Realtor Association, the median price for a single-family home in Orange County and Seminole County was $158,000 during February, up 6% from January and 19% from last February.
Largest Number of Listings since November 2011
More than 10,184 houses in the region were listed for sale - the largest number of listings since November 2011! 1,917 homes sold in February, an increase from 1889 the month prior. However, sales were down by about 21% from a year earlier in Orange and Seminole counties. Sales in Lake County have increased 6% since last February. The county waived impact fees causing many people to want to build a home in Lake County.
Orlando Real Estate Market Mix
The market mix has changed dramatically over the past year. Short sales have decreased by 64% and foreclosure sales dropped 15%. A year ago, short sales and foreclosures were the majority of the market. But as the market recovers, with higher prices driving up equity and listings, distress sales made up only about one-third of all sales, and normal sales made up two-thirds. The region had a 5.3-month inventory of houses on the market last month, compared to only a 3-month supply the year prior.
Orlando Area Information
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