May of this year in Orlando prices and sales increased once again, while, the number of homes for sale fell 17% compared to the same time last year. The annual median price of homes in Orlando in May was $218,000, up 7% compared to last May.
3,817 homes sold during the month, an increase of more than 14% compared to May 2016. Of the homes sold in May, only 30% went under contract in seven days or less.
Orlando home buyers are challenged by the limited home inventory as there are only 8,781 homes that are currently available for sale, which equates to a 2.3-month supply of homes in Orlando, the lowest supply since September 2005.