Orlando property sales soaring

Orlando property sales soaring

Orlando property sales soared by 20% in November, according to figures released by the Orlando Regional Realtor Association.

Transactions jumped to 2,430 last month, an increase of 19.88% compared to November 2011, driving property prices in Orlando to their highest in three years. The November median of $129,000 is 12.17% above that of November 2011 ($115,000) and 5.31% above that of October 2012 ($122,500).

"All of our indicators point to a clearly improving housing market in Orlando," says Stephen Baker from RE/MAX Central Realty. "I'm particularly heartened by the jump in traditional sales (as opposed to short sale or repossessed properties), which illustrates a pent-up demand from buyers. This is what owners who want to sell - but have been reluctant to put their homes on the market - have been waiting for."

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