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.
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.
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.
