Orlando Home Sales Up 38%
Orlando home sales were up 38 % over the same period last year. Orlando housing inventory of homes for sale dropped below 20,000 listings for the first time in since December 2006. However, of the 1,854 closings in May, 51 % of the homes were either bank-owned or distressed. Foreclosed and distressed home sales are playing a massive role in establishing Orlando’s median home price. The median home price for all Orlando homes sold in May was $130,000. This represents a 38.51 % decrease compared to last May, but the median price for “normal” home sales is $165,000. The median home price for bank-owned home sales is $82,000 and the median home price for distressed home sales is $140,000.
There are currently 19,123 homes listings available for purchase through the Orlando MLS. For assistance in finding some of these once in a life time foreclosure bargains, contact us here at the Orlando Real Estate Pros or call 407-290-3408.
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