The inventory of Single Family homes in Orlando continues to drop, in a trend that is increasingly strong for a seller market. This is what the last report released by Orlando Realtor Regional Association shows. At the same time, sales increased, after having suffered a slight fall in the previous month.
In October, 3,634 properties were sold (closed sales) in the Orlando and Greater Orlando area, against 3,478 in September. An increase of 4.48%. Compared to the same period last year, the increase was 25%. In October 2019, 2,096 units were sold.
What is most striking is the drop in the inventory of single-famly homes in Orlando. The report points out that in October this year there were 3,880 houses for sale, against 3,986 last month. A decrease of 2.6%. Compared to the same month of the previous year, the fall is considerably more significant: an impressive 37%. In October last year the number of single-family homes on the market was 6,140.
It is a seller market in Orlando
Increasing sales and decreasing inventory reaffirm the seller market trend for single-family homes. The numbers do not follow the same trend for Condos and Townhomes & Villas.
The condo inventory dropped slightly by 2.6% from September to October, dropping from 1,240 units to 1,211. With regard to Townhomes & Villas, the inventory remains practically stable in the comparison from October (749) to September (746) ). In comparison with the same period of the previous year, condo inventory showed an increase of 14% (1,061 units in October 2019). Townhomes & Villas increased 18% (636 units in October 2019).
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