Monday Market Report – Housing Prices Go Up to 11

The median home price in the nation has gone up 11% over last year.  The housing industry is heating up this fall as the number of homes for sale declines.  The low supply of homes for sale is causing the prices of homes to rise.  In the Orlando housing market, the median price has gone up over 9% from this time last year.

Not only are the prices increasing but the average time on the market is declining.   In fact, homes are going under contract 25% faster than this time last year according to the Orlando Regional Realtor Association.  This kind of activity hasn’t been seen in about 6 or 7 years.

All of this activity is leading towards an even greater gift this holiday season, home equity.  According to the National Association of Realtors, “rising home prices have created $760 Billion growth in home equity during the last year.”  And they expect that growth to rise more in 2013.  This is excellent news if you have been unable to sell in Orlando but need to in the next year.  Contact us today for information on how quickly your home might sell in this market.  Kathryn@ThinkLiveBe.com or 1-800-859-5714 ext. 0

 

Image Credit:  Oven by _gee_via Attribution License on Everystock

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About Kathryn Stelljes PA

I am a Realtor in the Downtown Orlando area. I have earned a Bachelor's Degree in Marketing and a degree in Residential Planning. My background in these design fields has advanced my ability to sell in the realm of residential real estate. As a native Floridian and resident of Downtown Orlando I understand the growing needs for homeowners in the Central Florida home market and specifically the Downtown market. I enjoy sharing information about businesses, fun events, and the historic homes and neighborhoods that make Downtown Orlando such a unique and vibrant place to live. I love Italian Greyhounds, old houses, interior design and design blogs, social media networking, and anything marketing related.
This entry was posted in Central Florida News, Economy, Monday Market Report, Orlando News, Real Estate Market, Real Estate News and tagged , , , . Bookmark the permalink.

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