The number of homes for sale in the Orlando area plunged 61% from March 2020 to March 2021. This continued decline from the prior month puts an even tighter squeeze on a market with just 2,878 homes for sale. Inventory is so low, it would take only three weeks to sell all the homes for sale in the Orlando area. A balanced market is considered six months of inventory. The median home price continues to rise, now at $285,000, a 12% increase from March 2020 to March 2021. Interest rates continued to rise for a third straight month. The average interest rate in March 2021 was 3.07%, a 7% increase from February 2021.
Published on 2021-04-20 13:19:58