Orlando Home Prices Climb at Higher Rates
October 22nd, 2013 | WMFE - Home prices in Central Florida are rising, and they're outpacing real-estate recoveries in most metro areas across the state. That's according to a new report from Florida Realtors, the state's largest real-estate trade organization.
The report places the four-county Orlando metro area in the top five markets across the state for year-over-year growth. The median price for a home sold last month was $172,000 across Orange, Seminole, Lake and Osceola counties. That’s a 23% jump over September of 2012.
Orlando Regional Realtor Association Board Chairman Steve Merchant says he’s seen the signs of market growth for himself.
“I will tell you that demand is fantastic, that in many cases, we’re still having multiple offers on the properties that are out there,” says Merchant. “So, the price point moving forward I’m optimistic about, and the continued sales, both.”
The Florida Realtors report says the Punta Gorda area posted the largest year-over-year gain – 28%.
The statewide September median home price was up 17%, at $170,000.
Florida Realtors officials say last month marked 22 months in a row that home prices across the state beat year-over-year numbers for both single-family homes and townhome-condo properties.