Well Orlando Real Estate one of the hottest areas to buy. Our inventory of homes is at 2.66 month supply in which normal levels are at 6 months. This short supply is creating an increase in prices and truly is a sellers market. The median price of a home is at $140,000 which is up 21.74% from last year.
One area in which prices are increasing at steep incline is new construction. I have sold alot of new construction and builders raise their prices about $10,000 each month. I sold a new construction home at the end of January for $466,995 and right now that same floor plan is priced at $509,495, that's a 9% increase in just 3 months!
If you are thinking about buying, do not wait as prices are going up. Each month the volume of normal sales increase, while the short sales and bank foreclosures decrease.
One area in which prices are increasing at steep incline is new construction. I have sold alot of new construction and builders raise their prices about $10,000 each month. I sold a new construction home at the end of January for $466,995 and right now that same floor plan is priced at $509,495, that's a 9% increase in just 3 months!
If you are thinking about buying, do not wait as prices are going up. Each month the volume of normal sales increase, while the short sales and bank foreclosures decrease.
Orlando Real Estates Sales Activity for March 2013
- Average Interest Rate: 3.65%
- Inventory of Homes: 6,937
- New Listings: 3,466
- New Contracts: 3,445
- Under Contract: 8,799
- Back on Market: 538
- Sales Closed: 2,605
- Average Days on Market: 80
If you are considering buying an Orlando Home, please contact our buyers agency office today!
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