Orlando buyers ‘gobbling up inventory like it’s Halloween candy’

The Orlando-Kissimmee-Sanford region continued to show signs of buyer demand last month, as the median list prices went up by 11 percent when compared to a year prior — and up 1 percent from the month prior, Realtor.com reported.

In addition,10 percent fewer active listings are on the market in metro Orlando and homes are on the market for a median of 70 days, which means half of the homes sell faster than that and the other half sell slower, the report showed.

Meanwhile, the U.S. October median list prices were 8 percent higher when compared to a year earlier and homes are on the market for a median of 79 days.

“October is typically thought of as the off-season for home sales, but this year buyers are gobbling up inventory like it’s Halloween candy,” Realtor.com Chief Economist Jonathan Smoke said in a prepared statement. “In fact, the number of homes for sale declined more in October than at any other point this summer, leaving us with 11 percent fewer active listings than a year earlier and the largest monthly inventory drop since July 2015.”screen-shot-2014-11-17-at-8-12-17-am

Take a closer look at the Orlando data in the infographic below and check out more September residential real estate trends on Realtor.com.

See more local residential real estate news from OBJ.