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!
Director, British Homes Group, Florida
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