PINE HILLS LEADS 2016 WITH GREATEST PERCENT OF INCREASE IN MEDIAN HOME PRICE

WASHINGTON, DC – (RealEstateRama) — The Central Florida zip code 32808, which encompasses Pine Hills, saw the region’s highest percentage of increase in median home price during 2016, reports the Orlando Regional REALTOR® Association.

ORRA

The cumulative median price of homes sold in 32808 during 2016 was $92,000, a 41.5 percent increase over the 2015 cumulative median price of $65,000.

In second place, with a median price increase of 40.3 percent, is the Pinecastle/Oakridge/Edgewood zip code of 32809.

“The predominance of the top 10 performing zip codes in 2016 have median prices below the current first-time affordability index median price of $183,000,” points out ORRA President Bruce Elliott, Regal R.E. Professionals LLC. “The dramatic percentage of increase within this price range from one year to the next speaks to the demand — and the lack of availability — of homes for the first-time homebuyers who are so important to the health of a real estate market.”

The overall annual median price for homes sold within the entire Orlando area during 2016 is $200,000, 12.0 percent higher than the 2015 annual median price of $178,500.

View a detailed chart

Orlando Area Top 10 Zip Codes By Median Price Increase, 2016

Rank Zip | 2015 Median | 2016 Median | % Increase
1. 32808 | $65,000 | $92,000 | 41.54%
2. 32809 | $94,750 | $132,900 | 40.26%
3. 34760 | $186,500 | $256,500 | 37.53%
4. 32818 | $125,000 | $155,000 | 24.00%
5. 32773 | $115,000 | $142,250 | 23.70%
6. 32810 | $110,500 | $135,000 | 22.17%
7. 32789 | $356,800 | $435,000 | 21.92%
8. 32805 | $51,000 | $61,500 | 20.59%
9. 32771 | $163,000 | $196,000 | 20.25%
10. 32792 | $169,000 | $202,000 | 19.53%

Orlando Area Top 10 Zip Codes By Average Price Increase, 2016

Rank Zip |  2015 Average | 2016 Average | % Increase
1. 34760 | $199,188 | $272,854 | 36.98%
2. 32808 | $75,781 | $99,182 | 30.88%
3. 32792 | $182,710 | $225,673 | 23.51%
4. 32810 | $113,386 | $135,877 | 19.84%
5. 32730 | $143,324 | $171,427 | 19.61%
6. 32771 | $207,195 | $244,843 | 18.17%
7. 32789 | $549,427 | $649,072 | 18.14%
8. 32818 | $126,845 | $149,663 | 17.99%
9. 32839 | $106,055 | $123,720 | 16.66%
10. 32779 | $305,840 | $356,762 | 16.65%

The Orlando Regional REALTOR® Association, recognized as one of the most innovative local real estate associations in the country, represents more than 12,500 real estate professionals throughout Central Florida.

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Orlando Regional REALTOR® Association

The Orlando Regional REALTOR® Association is one of the largest local trade associations in the state of Florida, with more than 11,500 members in Orange, Seminole, and the surrounding counties.

ORRA is composed of REALTORS® who are involved in residential and commercial real estate as brokers, salespeople, property managers, appraisers, counselors, and others who are engaged in all aspects of the real estate industry.

Contact:

Phone: 407.253.3580

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