According to a new report from the Orlando Regional Realtor Association, homes sales are up nearly 26 percent year on year. Realtors entered into the sale of 3,067 home closings in March 2015, an increase of 25.95 percent versus March 2014. The median price of a single family home increased 8.33 percent to $177,500. Homes of all types spent an average of 79 days on the market before coming under contract in March 2015 while the average sale price was 96.27 percent of what was asked. In March 2014, those numbers were 76 days and 96.83 percent.
“The current low interest rates, recent increases in available inventory and consumer confidence in the health of Orlando’s economy and housing market are all contributing to the current sales activity,” said ORRA President Sharon Voss. “In addition, the reasonable rate of median price growth indicates that prices are not going to be falling, so many buyers feel the time is right.”
