Finding a home to buy in Orlando, in these pandemic times, is starting to be difficult. The inventory of properties for sale has declined sharply and prices have risen. According to the latest report from the Orlando Regional Realtors Association, the average price of homes sold in Orlando in July 2020 was $ 270,000, an increase of 9.2% over the same period last year. The price is also almost 2% higher than the June 2020 price ($ 265k).
The number of houses sold has also increased. In total, 3,679 homes were sold in July, up 1.4% year-over-year and 18.6% over June 2020.
The increase in numbers occurs after 3 consecutive months of recession in the Florida real estate market, as a result of the pandemic. The prolonged pause in the market during the months of isolation ended up creating pent-up demand that came back strongly in July.
Shoppers outside of Florida deserve a spotlight in shopping. Many buyers come from the northern United States, from regions like California, Connecticut and New Jersey.