Orlando home prices up 5 percent


Orlando home prices pushed up 5 percent in March from February.

The median home price for the core Orlando market was $195,000 in March. During the last year, prices jumped 10 percent and wages grew about 1 percent, according to a new report by Orlando Regional Realtor Association.

For Orlando buyers in March, the bad news was that prices hiked and for-sale signs disappeared.

Since last summer, buyers have chipped away at Central Florida’s inventory of homes on the market.

Since the beginning of the year, the supply has dwindled from 5 months to just 3.5 months – almost half of the 6-month supply that marks a balanced market.

Houses lasted 70 days on the market before landing a contract, down from 80 days a year ago.

Final sales prices were just 97.1 percent of the asking price.

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Orlando Florida, USA

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