Summer Numbers May Prove Orlando Homes Market is Cooling

The end of summer brought a surge in the sale of Orlando homes, yet the median sale price “failed to increase for the first time since September 2004.” This, local brokers claim, is a sign that the market is finally cooling, but then why are existing Orlando homes selling so rapidly?

The summer closed with the median price of Orlando homes holding at $245,000, yet inventory rose to 5,532 units, the highest it has been since February 2004. At the end of August 2004, “inventory was 3,940 properties.” Brokers say that the flood of condo conversions that hit the market in August contributed to the increase in inventory and sales, as it caused hundreds of cheaper Orlando homes to hit the market.