Orlando Housing Market - May 2020
Orlando Median Home Price Continues to Rise in May as Closing and Inventory Fall The median price of homes sold in May increased nearly 7% while transactions dropped 44% during the month to illustrate the impact of COVID-19 on Orlando's housing market. Inventory experienced a year-over-year decline of 11%. Median Price The overall median price of Orlando homes (all types combined) sold in May is $259,900, which is 7.0% above the May 2019 median price of $243,000 and 1.5% below April 2020 median price of $263,750. The median price for single-family homes that changed hands in May increased 5.4% over May 2019 and is now $277,250. The median price for condos increased 2.8% to $140,000 and townhomes/villas/duplexes increased 3.1% to $218,250. The Orlando housing affordability index for May is 138.37%, up from 136.60% last month. (An affordability index of 99% means that buyers earning the state-reported median income a 1% short of the income necessary to purchase a media
