The median price of Orlando homes sold during the month of August increased nearly 10 percent while sales increased almost 3 percent compared to August 2016, reports the Orlando Regional REALTOR® Association. Inventory continued its year-over-year slide and dropped about 16 percent.
Orlando’s overall median home price (all home types combined) is $225,000, which is 9.8 percent above the August 2016 median price of $205,000. Year-over-year increases in median price have been recorded for the past 73 consecutive months; as of August 2017, the overall median price is 94.8 percent higher than back in July 2011.
The median price for single-family homes that changed hands in August increased 7.5 percent over August 2016 and is now $241,850. The median price for condos increased 12.5 percent to $112,500.
The overall overage home price for August 2017 is $259,331, an increase of 6.7 percent over the average home price in August 2016. The average home listed for $266,784 in August and sold for 97.2 percent of its listing price (97.3 percent in August 2016).