Low Inventory Leads To Home Sales Boom In Orlando

The supply of available homes in Orlando has dropped to 2.48 months’ supply, down 19.3 percent from last year. The low inventory, along with a strong economy and job market, caused a 40 percent increase in sales last month.

HousingWire reports that the lack of homes for sale is a challenge for lower-end buyers. The median home price rose 11.3 percent year-over-year to $217,000. March was the 68th straight month that the median price increased from the previous year.

Single-family homes that sold in March increased 10.6% from last year to $234,900 while the median price for condos increased 6.3% to $102,000.

Read more