Real Estate in Review for August 2018
Orlando median home prices continue to rise even though the sales slowdown.
In August, last month, the average sales price for Orlando was $231,000 which was an increase of just about 3% from the prior year and almost 2% decrease from the month prior.
Seems like we’re starting to see the shift from a sellers’ market to a buyers’ market. Pending sales in August were down a dramatic 21% compared to last year and also down 6% from last month. Also, homes are sitting longer on the market. The Orlando Realtor Regional Association is averaging 49 days from listing to contract, although our Team is proud of to say we are only 23 days from listing to contract.
Buyers are you interested in the mortgage rates? We’re looking at 4.57% for average interest rate and a better opportunity for you to find a home in a less fast pace market.
Are you interested in diving deeper into certain a zip code? I can pull your specific location and let you know the market updates in your neighborhood. Just put your email in the comments below and we’ll send your way.
Keep your eye out next month for the latest Real Estate in Review and always- if you’re interested in buying, selling or know somebody who is. contact us right away. Looking forward to hearing from you!