It is a new year, but we are seeing more of the same when it comes to the #OrlandoRealEstate market results for January 2021. When I say more of the same, it is way more of the same. Sales for last month were up 20% compared to a year ago. There were 2,727 closed sales last month compared to 2,270 in January 2020. But wait there's more... Prices climbed 12% compared to a year ago. The median price held steady compared to the prior month, but jumped from $245,000 a year ago to $275,000 over the last three months. If a 20% hike in sales, and a 12% jump in prices don't get your attention, perhaps the 40% plunge in the number of homes available for sale will do it. In the last year the number of homes available for sale in the Orlando metro area has plummeted from 7,030 (which is low to begin with) to just 4,233. This includes all types of homes; single family, condos, townhouses, etc.
Inventory is Critically Low! 😱
Check out this brief video with more details.