ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
Metro Orlando’s residential real estate market has experienced some recent trends reminiscent of the best of times as well as its fair share of challenges — though it might be a bit dramatic to call them the worst of times.
On the one hand, the market’s median home price ticked up in each of the first six months of 2023, peaking at $385,000 in June. A buyer pool that includes a growing number of well-financed, out-of-state buyers has buoyed the local market’s higher end.
Conversely, a majority of local Realtors have said the Central Florida market already peaked, and about half pointed to signs of cooling. For example, a persistent lack of inventory of homes available for resale has made it hard not just on prospective buyers but also on real estate agents who are competing for fewer listings.
Click here to read the full story on the Orlando Business Journal’s website.
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