Low Interest Rates, but Prices Still Aren't Going Up It's the perfect time to buy since both homes and mortgages are more affordable than ever! In the last two years, the average price of a home in Orlando has dropped over $165,000. Just this year, the average home has gone from $190,243 in January 2009 to $155,669 in May 2009. First time homebuyers are competing with investors with cash for the best foreclosure deals.
| May '09 | May '08 | May '07 | May '06 | Median Sales Price | $130,000 | $211,400 | $250,000 | $250,000 | Average Sales Price | $155,669 | $273,644 | $320,727 | $308,237 | Sales Closed | 1854 | 1347 | 1745 | 2842 | Average Interest Rate | 4.9% | 5.94% | 5.94% | 6.39% | Average Days on Market | 104 | 115 | 94 | 56 |
Source:Orlando Regional Realtor® Association | 
