June 2004 monthly update on Real Estate trends and conditions in the Central Florida area.

Neither a rise in the heat of an impending summer, nor the ascension of mortgage interest rates could slow down the Orlando-area housing market as single-family existing homes sold at record pace in the month of April.

According to the Orlando Regional Realtor® Association’s (ORRA) Roth Report of local housing activity, 2,361 homes sold last month, a 22.84% increase over April 2003. It is the most sales ever recorded in April and vaulted year-to-date sales to 8,158 – a 19% increase over the first four months of 2003.

Sales in the Orlando MSA, which includes Lake, Orange, Osceola, and Seminole counties, also continued to flourish in April as 3,138 homes were sold, a 28% increase over last year. Year-to-date, MSA sales are up 21.7% from 2003. Although all four counties posted positive increases in home sales, Lake posted the highest boost over last April with a 41% rise.

The median price of a home rose another 14% to $163,000, the highest median price recorded thus far in Orlando.

The previous record was set in July 2003, when the median price climbed to $161,190. With record sales and a record median price, it is no surprise that year-to-date sales volume – $1.6 billion – is up 39% over last year.

* Based on Information found at orlrealtor.com

Prior month's information