Orlando Regional Realtor Association® reports the Central Florida median home value at $269,950, up 11.6% year-over-year in its November 2020 Market Report (for data from October). ADOM is steady at 48 days. Total number of sales is a spiking upwards 25% year-over-year with inventory is down 37% during the same timeframe, thus creating an extremely limited 1.6 months’ supply available. If all the homes on the market were to sell, the timeline would take approx. 6 weeks. Avg. mortgage rate of 2.72% is an all-time low as the Federal Reserve is maintaining historically low interest rates to aid in the Covid-19 economic recovery process. Distressed sales, which include REO & short sales, are less than 2% of all sales. The full report is available here: ORRA Market Pulse Report November 2020
