The Orlando Regional Association released an article last week that further reinforces the trend we’ve seen this year in Central Florida. Orlando’s housing market is on the rise!

The recent growth in the real estate market is great news for sellers in Orlando. In June, 43% of buyers paid at least the listing price for homes they purchased, which is up by 5% compared to June of last year.  In addition, home prices are up 14% from a year ago to a mid-point price of $125,000. June constitutes the fifth consecutive month that home prices in 2012 have beaten prices from the same month last year in the core Orlando markets.

Home buyers in Orlando are currently paying an average mortgage interest rate of 3.8% for a 30 year mortgage, which is below Central Florida’s record low. As a result, many Orlando homes are selling fast, as buyers are taking advantage of the low interest rates.

A low supply of properties is also contributing to the seller’s market here in Orlando. In fact, the diminishing supply of properties has dropped inventory to the lowest levels since the peak back in 2005. Based on the current rate of sales and inventory level of 8,136 homes available in the local multiple listings service, real estate professionals estimate that there is a 3.32 months’ supply of listings in Orlando.

So what does this all mean? This is great news for sellers who were waiting to sell once the market improved.  It’s also good news for buyers because now is the best time to lock in a good price at a historically low interest rate.

Homes are selling fast in Orlando. Now is the ideal time to contact Real Estate Closing Solutions about the title and escrow services we can offer you. Our goal is to educate and empower consumers and refer proven, trustworthy, and knowledgeable local real estate professionals. We believe that all of our clients deserve the very best personalized service. Give us a call at 407-615-8550 to speak with one of our real estate professionals today!