Real Estate in Review for January 2017
Prices are on the rise in 2017, compared to the start of 2016 for Central Florida. The median price increased 10.5%+ from the median price recorded in 2016 at $180,000. The overall average home price for January 2017 reached a high of $244,904 - a 11.9% jump from the average in January 2016.
Just a slight increase of 2.3%, the Orlando home sales were up last month when compared to the year prior.
Orlando is starting to see a decrease in Short Sale and REO sales, luckily! Of the 2,195 sales in January - only 11% were made up of Short Sales and REO sales.
The Orlando affordability index increased to just over 150% in January. And the first-time home buyer affordability index increased to just under 110%.
Ringing in the New Year with 71 average days on the market, that means your home is on the MLS only 10 weeks before pending. And these homes are selling for 96.99% of the listing price.
Thinking now is the time to put your home on the market? We'd agree! Contact us now to set up a listing appointment or find out the value of your home!
January 2017 Housing Market
Released February 15, 2017- Stats provided by ORRA