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.