Several months of paused transactions have propelled an upswing in buyer activity that continued in August that set Orlando area home sales into the black again. Our median price also continued on its upward path while inventory again fell to a new low.
A total of 3,539 homes sold during the month. A tally that is 4% more than the 3,397 sales that occurred in August 2019.
The median price of an Orlando home sold in August was $275,000 which is a 10% increase as compared to August 2019.
Currently, there are 5,958 homes listed for sale in the Orlando market. That’s only 1.7 months of inventory at the current rate of sales, a very strong seller’s market. (A market balanced between buyers and sellers is considered 5-7 months of inventory).
Home buyers continue to be challenged by the limited number of homes available for sale in Orlando. Compared to August 2019 the number of homes on the market decreased by 22%. Compared to last month, there are 4% fewer homes available for sale.
For more information, see the Orlando Regional Realtors Association fully detailed Market Pulse Report, published every month.
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