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The Orlando Regional Realtor Association is reporting this week that Orlando’s housing market in February 2020 saw its home sales improve by more than 4% compared to February 2019, while the median price experienced a 6% percent increase. Inventory experienced a year-over-year decline of 17% and continues to be a mitigating factor.
ORRA President Reese Stewart points out that Orlando Realtors, like those across the country, anticipate an impact from the coronavirus situation on the real estate market but are unable to predict what that might be.
The overall median price of Orlando homes (all types combined) sold in February is $250,000, which is 6.4% above the February 2019 median price of $235,000 and up 2.0 % compared to the January 2020 median price of $245,000.
The median price for single-family homes that changed hands in February increased 8.0% over February 2019 and is now $270,000. The median price for condos increased 6.2% to $145,500.
The Orlando housing affordability index for February is 139.71, down from 140.36 last month. The first-time homebuyers affordability index decreased a fraction to 99.35 from 99.81% last month.
