For the fourth month in a row during 2014, Orlando’s median home prices once again increased in May, coming to reach $165,000. This figure is the highest it has been since 2008, yet another sign that the Orlando housing market is healing and improving, and that closing solutions in Orlando are in high demand.

According to a recent report by the Orlando Regional Realtors’ Association, since April of this year, median home prices rose by 1.5 percent. Even more significantly, this median figure is a 13.7% increase from May 2013. The last time our housing market has seen a median price peak of this nature was in December of 2008, when the median home price hit $167,500–which was during a significant decline, as compared to July 2008’s $264,436 median.

Going further into the report, 2,651 home sales closed during the month of May. This figure is a slight decrease from the total number of sales in April, and an 11 percent decrease from this time last year. The total available inventory did increase to a 4.1-month supply thanks to an increase in available foreclosures, but this figure is still below the “normal” 6-month supply level.

Real Estate Closing Solutions is an independent Orlando title insurance and closing agency that focuses on unbiased and equal servicing expertise to all parties in the real estate transaction.  To learn more about ourclosing solutions in Orlando, and for more up-to-date information on the state of Central Florida’s housing market, contact us today at 407-615-8550, read our website or stop by our office.