Orlando home sales completed during 2017 finished out at 37,198, which according to the Orlando Regional REALTOR Association is 3.8 percent above the cumulative sales total of 35,829 for 2016. By comparison, annual sales in 2016 were 1.9 percent greater than in 2015.
In addition, Orlando’s annual median home price ($220,000) is 10% higher than the 2016 annual median price ($200,000) thanks to another 12 consecutive months of year-over-year price increases.
“Median price was driven during 2017 primarily by a combination of strong buyer demand and very low inventory levels,” explains 2018 ORRA President Lou Nimkoff, Brio Real Estate Services LLC. “REALTORS expect prices to continue their upward trend in 2018, albeit at a slower rate.”
“We also expect low inventory to continue to exert its influence on the market in 2018, especially in the highly desired lower-priced categories,” says Nimkoff. “In fact, the lack of affordable housing in Orlando is a concern that REALTORS anticipate will be at the forefront of community discussion in 2018.”