The Orlando Regional Realtors Association reported that the median price of existing homes sold in July jumped by 25 percent when compared with a year ago. This is the largest year-to-year increase since January 2006.
ORRA Chairman Steve Merchant, owner-broker of Global Realty International, says in a blog post that climbing prices are spurring buyers into action. “Between rising prices and rising interest rates, many buyers are taking the opportunity to get while the getting is good. The result is that sales went up 15 percent in July.”
The July 2013 median price of $157,000 is precisely 24.60 percent higher when compared to July 2012 and 4.49 percent higher when compared to June 2013. Orlando’s median price has risen 23.62 percent since January of 2013 and 45.37 percent since January 2012.
Here are the average home prices in Q2 of 2013 in the Bungalow zip codes:
- 32801 — $252,434
- 32803 — $211,752
- 32804 — $272,547
- 32806 — $196,967
You can read our post about how Colonial Town South Home Prices might end up passing College Park and Lake Eola Heights.
You can read the full report on ORRA website.