Orlando home-price growth outpaces Florida's

Posted by Suzi Karr Realty on Monday, July 28th, 2014 at 11:35am.

Metro Orlando's housing market is not experiencing the big year-over-year price gains it saw in 2013, but increases in the four-county region continue to outpace the state's, a new report shows.

The metro area, which includes Orange, Seminole, Osceola and Lake counties, had a median price of $185,000 for single-family homes that sold in June, according to a report by Florida Realtors. Prices increased 8.2 percent from June 2013. Even though those increases were not as high as the 20 percent annual price escalation in the region last year, the appreciation outperformed recovery statewide.

Florida's median home price was the same as Orlando's last month, but that represented growth of only 5.2 percent from a year earlier.

The Realtors industry group for Florida noted the consistent direction of recovery for a state that has struggled with underwater homes and distress sales for about seven years

"June marked the 31st month in a row — more than 21/2 years — that median sales prices rose year-over-year for both single-family homes and townhome-condo properties," said Sherri Meadows, chief executive officer for Keller Williams in The Villages.

Meadows, who is president of the association, said the state's steadily improving jobs situation and rising influx of residents has had a significant impact on Florida's housing market. Statewide, she noted, new listings for single-family homes in June rose 12.4 percent year-over-year, while new townhouse-condo listings rose 3 percent.

mshanklin@tribune.com or 407-420-5538

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