Orlando Regional Realtor Association® reports Central Florida median home value up 7.9% year-over-year in its April 2020 Market Report. Median value now at $253,500 with ADOM holding at only 54 days. Inventory is down a substantial 9.6% year-over-year with a current pace of only 2.3 months supply! Experts consider 6 months supply as a balanced market. Year-over-year sales increased by 27.1% from March 2019. Pending sales down by 14.9% year-over-year. Data is indicative a “Seller’s Market” with an extremely robust demand for housing with declining supply available for purchase. Only 80 distress sales closed across the Orlando Metropolitan Area during the entire month of March 2020. Distressed properties are only comprising less than 3% of all sales. Sales numbers are strong & home values continuing to increase on a monthly basis. The initial impact of the Covid-19 crisis on Central Florida real estate will be available within the next 30 days. The full report is available here: April 2020 Market Pulse Report for data from March 2020
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