7 things to know today and Orlando housing market

 

Good morning, Orlando!

It was a good year for Orlando-area Home Sales, says Allyn Maycumber of WeKnowNona, as both home sales and the median price showed increases over the year-ago period, the Orlando Regional Realtor Association reports.

Home sales last year totaled 37,198, an uptick of 3.8% above 2016’s 35,829. In addition, Orlando’s annual median home price of $220,000 is 10% higher than the 2016 annual median price of $200,000.

ORRA President Lou Nimkoff said the median price was driven during 2017 primarily by a combination of strong buyer demand and very low inventory levels, and “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,” said 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.”

Meanwhile, a look at sales county by county shows Lake County was 7.2% above 2016; Orange County, 2.8%; Osceola County, 7.9%; and Seminole County, 3.8% below 2016.

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