Orlando median price soars in January as inventory dwindles

The median price of Orlando homes sold during the month of January shot up more than 18 percent over that of January 2012, a year-to-year increase not seen since the tail end of the red-hot housing market in March 2006, reports the Orlando Regional REALTOR® Association.

The January median price of $128,000 is 18.52 percent above that of January 2012 ($108,000) and 3.40 percent below that of December 2012 ($132,500).

All sales types experienced year-to-year increases in median price in January. The median price of normal sales increased 10.49 percent, while the median price of foreclosures increased 14.12 percent and that of short sales jumped 22.22 percent.

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