Orlando Homes Rebound As Summer Ends

The sale of existing, single-family Orlando homes rebounded in August. A total of 2,909 Orlando homes sold as the summer came to an end, marking a 29 percent increase over August 2004 sales. The Orlando Regional Realtor Association reported that sales are 8 percent higher than they were after the first eight months of last year, suggesting that the market is healthy and stable.

Further proof that the local market is stabilizing and that a bubble is nowhere in sight is the fact that the median price of Orlando homes in August remained at $245,000, the same amount as in July. Inventory also rose above 5,000 “for the first time since March 2004.”

The sale of Orlando homes has increased throughout the entire metropolitan statistical area. The average increase for Lake, Orange, Osceola and Seminole counties was 26 percent compared to August 2004. “Osceola saw the greatest increase at 40.9 percent, while Seminole only showed an increase of 5.9 percent.”