Orlando Home sales still setting records

Jack SnyderSentinel Staff Writer December 21, 2005, 11:07 AM EST Orlando Sentinel

Orlando-area existing-home sales continued on a record setting pace in November, though the month-to-month increase in the median price has slowed considerably and inventory is now the highest in more than nine years, the Orlando Regional Realtor Association reported today.

The median price of homes sold in November was $249,000, up only 1.3 percent from October but a 37 percent increase from November 2004.

The pool of homes for sale last month reached 9,685, a 163 percent increase over November of last year and the highest level since July 1996. Brokers say the market is entering a slower paced phase, thus the growing inventory, but sales are still strong.

The 2,336 homes sold last month were a 23.1 percent increase over November of last year. Sales for the year are expected to set a record for the 13th consecutive year.