The inventory of Orlando homes available for purchase took another 7 percent tumble in February, slowing year-over-year sales and driving a double digit increase in median price.

The overall median price for the month of February 2016 is $185,000, a 12.19 percent jump compared to the $164,900 median price in February 2015. ORRA members participated in the sale of 2,334 homes in February 2016, a decrease of 5.01 percent compared to February 2015 and an increase of 8.76 percent compared to January 2016.

In addition, the current median price of $185,000 (also the median price in December 2015) is at its highest value since August 2008, when the median price was $200,000.

The number of existing homes (all types combined) that were available for purchase in February is 6.55 percent below that of February 2015 and now rests at 10,696. Inventory decreased in number by 81 properties over last month.

Are you curious abut how fast can you make your deal happen? Here's the recent data.

If your are considering to list your home in the market, this is a great time. Give us a call for more information and a full orientation. Contact your expert Orlando REALTOR®, Lawrence Bellido, at (407) 490-2975 to schedule a meeting at your convenience.

Source: Orlando Regional Realtor Association - March 2016

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