Housing demand in Orlando grew again last month, depleting the inventory of homes in the region’s most popular price range to less than a month’s supply. Reported Orlando Business Journal (link to the full article at the end of this post).
Local home sales were up 3.8% from July to August, according to the Orlando Regional Realtor Association, as the local housing market blows past its early pandemic sales slump and faces a new issue: not enough homes for willing buyers.
Low interest and outsiders migrating to South Florida are the main reasons housing market in Orlando remains hot. These factors have resulted in rising prices. The median sales price last month was $275,000, up 10% from the August 2019 median price of $250,000, and a 1.9% increase from last month’s median price of $270,000.