Orlando housing market ends 2016 with increases in cumulative median price and sales
Orlando’s 2016 annual median price ($200,000) is a healthy 12.0 percent higher than the 2015 annual median price ($178,500), thanks to another 12 months of year-over-year price increases. Sales for 2016 finished out at 35,780 and squeaks in at 1.8 percent above the cumulative sales total of 35,151 for 2015.
“The most notable trend we saw in 2016 was our consistently declining inventory, which posted year-over-year drops every single month,” says Orlando Regional REALTOR® Association President Bruce Elliott, Regal R.E. Professionals LLC. “Reduced inventory resulted in a year of fewer options for buyers and dampened sales, plus contributed to consistently rising prices.”