Orlando Median Price of Homes Up

The median price of a home purchased in the Orlando area in June increased to $253,000, up 1.61 percent from June 2006, but sales fell nearly 50 percent from the same month a year ago, the Orlando regional Realtor Association said this morning.One sign of some stability though: The inventory of homes for sale through the local Multiple Listing Service rose by only 460 homes in June, compared with the heftier 1,028 increase in May.The total inventory of 25,923 is yet another record, though, and a 40.6 percent increase over June 2006's total of 18,437 homes for sale. It would take 18.12 months to sell all those homes and condos at the current, sluggish sales pace.