Orlando Regional Realtor® Association reports 10% increase in home values for August 2020

Orlando Regional Realtor Association® reports Central Florida median home value up 10% year-over-year in its September 2020 Market Report (for data from August.) Median value now at $275,000 with ADOM holding at only 51 days. Number of home sales rose 3.8% from July to August after stalling from Covid-19 lock-downs. Inventory is down 22.1% year-over-year with an extremely limited 2 months’ supply available. Experts consider 6 months’ supply as a balanced market. Data is indicative a “Seller’s Market” with a very robust demand for housing and declining supply available for purchase. The story is “lack of inventory, not lack of buyer activity.” Distressed property sales, which include short sale & REO homes, has nearly been completely depleted and comprising only 2% of all sales. The average mortgage rate of 2.85% is among the lowest on record. The full report is available here: ORRA Market Pulse Report September 2020

Author: JasonCraneRE

Real Estate Expert, Licensed Real Estate Broker, Jason Crane Real Estate LLC, in Orlando, Florida with 775+ successful real estate closings and total sales volume in excess of $82 million. Jason specializes in Residential real estate, Bank-owned Foreclosures & Short Sales. Also, Jason is an active real estate investor and landlord with a portfolio of residential real estate properties across Central Florida. Please visit http://www.JasonCraneOnline.com for more information!

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