AUGUST 2016 HOUSING REPORT
In August, the number of homes available for sale dropped once again but strong home buyer demand lead to increased prices and sales compared to August 2015.
The median price of Orlando homes sold during the month of August jumped to $205,990, that's an increase of 14%.
Compared to last August as prices rose, Orlando home sales also rose by 7% compared to last year with 3,429 closing for the month.
Competition for homes has greatly increased because of the low inventory of homes available for sale.
Since last year, the number of homes on the market has dropped by almost 10% with only 10,505 homes currently available for sale.