Buyers who purchased a house in Orange, Seminole, Osceola or Lake counties

Metro Orlando’s housing market outperformed Florida’s in January for both price increases and sales volume, a new report shows.

Buyers who purchased a house in Orange, Seminole, Osceola or Lake counties during January paid a midpoint price of $202,000, which was about $3,000 higher than the median price across the state.

Central Florida’s year-over-year price gains surpassed the state’s 13 percent price growth during the last year.

Orlando had about 2,000 sales of single-family homes in January, which was up 4.3 percent from January 2015.

Near the four-county Orlando area, the metro areas for Polk, Volusia and Brevard counties all experienced larger year-over-year price gains than the state in January. The midpoint price for both Polk and Volusia last month was $150,000 and that was up at least 15 percent from the beginning of last year. And Brevard County’s median sales price of $168,038 in January increased more than 17 percent during that time.

The double-digit growth in house prices from a year ago trickled over to Florida’s condominium market. Condo prices throughout the state increased 11 percent during the year-long period and hit a midpoint of $152,000. In Orlando, prices for those multi-family-style units increased 18 percent during the year to reach a median of $112,000 – more than double what they were about five years ago.

The inventory of houses throughout Florida shrunk from a supply of 5.9 months in January 2015 to just 4.5 months of supply last month. More good news for Orlando Villa and Condominium Owners!

Best!

Bill Cowie
Director, British Homes Group, Florida

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