In the Central Florida real estate market, conditions favor both buyers and sellers as more houses become available. May 2016 found a 2.3% decrease over May 2015 in the 5,176 number of new listings and a 16.2% decrease to 13,061 active listings for single family homes.
Actual sales of single-family homes also decreased over the same period. The My Florida Regional MLS data reports that in May 2016 a total of 3,972 homes were sold in the Orlando area. This represents a steady trend in sales compared to last year, May 2015. Prices in the Orlando real estate market continued to climb during that year-long period. The median price of a single-family home in the Central Florida area increased 12.5% between May 2015 and May 2016, to $225,000. The median price of all homes (including single-family homes, townhouses, and condominiums) increased 13% to $203,500 during that same year long period. Average home prices rose 13.2% during that period to $270,692 while average price of all homes (including single-family homes, townhouses, and condominiums) increased 12.7% to $240,166.
The dollar volume of sales during the year increased 13.1%. In total, $951,150,449 worth of homes were sold in May 2016. Homes spend an average of 69 days on the market in Central Florida, which is a decrease from May 2015.