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Central Florida Real Estate Market Update – Nov ’11- Median home price is now higher!

18 Nov

According to the Orlando Regional Realtor Association (ORRA), the Central Florida real estate median home price for October 2011 was 7.33% higher than October 2010. The median price for October 2011 was $112,700 and for October 2010 was $105,000. Since January this year, Orlando areas median price has increased by 18.76%. This is a great sign towards a more stabilized market. Our current inventory levels rose for the first time in 15 months by only 42 properties, but still remain under 10,000. These are inventory levels not seen since 2005. We are now at 9,973 properties on the market or a 4.82 months supply. A 5 to 6 month supply is a good balance between buyers and sellers. With home inventory at this level and interest rates at historic lows, it’s a great time to buy Central Florida real estate!

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Posted by on November 18, 2011 in Uncategorized

 

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