Orlando Real Estate Market Shifting to Favor Sellers

Median prices experience across-the-board increases

The median price of existing homes sold in the Orlando area has increased more than 15.74 percent since the beginning of the year, from $108,000 in January to $125,000 at the half-year mark in June, reports Orlando Regional REALTOR® Association. Compared to January 2011, the median price has increased 31.72 percent.

The June 2012 overall median price ($125,000) is 13.64 percent higher than it was in June 2011 ($110,000) and 4.17 percent higher than it was in May 2012 ($120,000). In addition, the median price has now posted positive year-to-year gains for 12 consecutive months.

All sales types experienced increases in median price in June. The median price of short sales increased 10.61 percent, while the median price of foreclosures increased 7.38 percent and normal sales increased 2.06 percent.

SOURCE: Orlando Regional REALTOR® Association (click here to read full story)
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