March market numbers are in, and we’ve taken a look at them for your Orlando Market Report. Data in the report is based on the most recent information in the Regional Multiple Listing Service. Questions? Reach out to our staff at the Orlando branch, 407-547-1020.
Median Sales Price
In March, Orlando’s median sales prices showed a steady upward climb. According to recent real estate data, the median sales price for an Orlando single-family home in March 2018 was $230,000, a 6% increase over March 2017. For condominiums, there was a 19% increase over the previous year, and for villas/townhomes an 8% increase for the same time period.
Reflecting other regions nationally, Orlando is experiencing a strong seller’s market, with demand high and inventory low. According to the Orlando Association of Realtors, inventory decreased 10% over March 2017.
U.S. foreclosure activity as of March 2018 was .06% indicating a slight increase since the end of December 2017. Orlando’s current foreclosure numbers are significantly lower than the previous year – closed Foreclosure/REO sales for March 2018 came in at 115, compared to 272 distressed sales in March 2017, Inventory is down and prices have decreased on single-family home foreclosures – median sales price for a foreclosure home was 29% lower than non-distressed home sales.
The Orlando and Orange County area foreclosure rate is .06%, the same as the national average. However, the state of Florida is slightly higher at .07 %.
We specialize in the marketing and liquidation of REO assets, and we are ready for one or a list of yours. We have local experts on our team to move tasks through the process efficiently and on-time. Let’s talk today!