New housing data from the Orlando Regional Realtor Association was recently released, revealing that Orlando area home prices spiked more than 10 percent in April year-over-year. Sales last month also saw an 8 percent increase compared to last year while inventory dropped by almost 11 percent.
Combining all housing types, the overall median home price in Orlando in April was $237,000, up from $215,000 in April of 2017. The upward trend is certainly nothing new, however, as year-over-year increases have now been registered for 82 consecutive months. Compared to July of 2011, the Orlando area median home price is up a whopping 105.19 percent.
When broken down, the median condo price saw a much bigger spike, increasing by just over 20 percent to $130,000. Single-family homes in the Orlando area, however, saw just a 9.4 percent increase in April to $257,000.
In terms of sales, members of the Orlando Regional Realtor Association recorded 3,347 sales of all home types in April, improving last year’s monthly sales volume in April by 8.3 percent.