Orlando’s annual median home price for 2018 ($232,500) is 5.7 percent higher than the 2017 annual median price ($220,000) thanks to another 12 consecutive months of year-over-year price increases, according to the Orlando Regional REALTOR® Association’s year-end report.
Orlando home sales completed during 2018 racked up a final tally of 36,048, which is 3.2 percent below the cumulative sales total of 37,237 for 2017. By comparison, annual sales in 2017 were 3.9 percent greater than in 2016.
Orlando’s 2019 Market: Good news for prospective buyers
ORRA President Jeffrey M. Fagan, Watson Realty Corp., sees Orlando’s 2019 market as a bright spot for the aspiring homebuyers who have struggled with competition, rocketing prices, and taking inventory for the past several years.
“As evidenced by slipping sales in the last months of 2018, we expect Orlando’s year-over-year sales to further decline in 2018. Such a slowdown will help the market to finally move toward a better balance between buyers and sellers.”
“We also expect the market’s median price to either continue rising in very small increments or to even experience slight declines,” continues Fagan. “Along with an anticipated increase in inventory, this is more good news for prospective buyers.”
Full article originally published on the Orlando Regional Realtor Association website