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November 19, 2025
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New Orlando Regional REALTOR® Association data shows lowest interest rates in a year.
ORRA’s full State of the Market Report for September can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows a drop in sales, inventory, and new listings as Orlando continues to shift to a buyer’s market.
ORRA’s full State of the Market Report for August can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month June be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows interest rates reach lowest level this year.
ORRA’s full State of the Market Report for June can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month June be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows a drop in new listings as some Orlando sellers pull out of the market.
ORRA’s full State of the Market Report for June can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows nearly 14,000 homes on the market heading into busy summer season.
ORRA’s full State of the Market Report for May can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows strong sales and inventory as market heats up.
ORRA’s full State of the Market Report for April can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows rise in sales and pending sales as winter winds down.
ORRA’s full State of the Market Report for February can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows spike in new listings to kick off the year.
ORRA’s full State of the Market Report for December can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Regional REALTOR® Association releases overall 2024 data, revealing demand for homes held strong as inventory rose and buyers adjusted to higher interest rates.
(Cumulative 2024 totals compared to cumulative 2023 totals)
ORRA’s full State of the Market Report for December can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
You can find ORRA's full State of the Market Report for May here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows a balanced market for the first time since February 2011.
ORRA’s full State of the Market Report for October can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows break in nine-month streak of rising inventory.
ORRA’s full State of the Market Report for October can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows highest inventory in nearly ten years.
ORRA’s full State of the Market Report for September can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for August 2024
New Orlando Regional REALTOR® Association data shows interest rates reached a two-year low
State of the Market
Market Snapshot
Inventory
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows market continues to stabilize for homebuyers as inventory increases for seventh month in a row.
You can find ORRA's full State of the Market Report for May here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows inventory surpasses 10,000 homes for first time since 2016.
You can find ORRA's full State of the Market Report for May here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows record-high median home price in Central Florida real estate housing market.
You can find ORRA's full State of the Market Report for April here.
This information comes from the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy.
Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Because of late closings, we need to make changes to include sales posted after our reporting date. We need to make changes because of late closings.
These changes will include sales posted after our reporting date. ORRA REALTOR® sales are sales made by members of the Orlando Regional REALTOR® Association. These sales are mainly in Orange and Seminole counties, but can also occur in other areas.
Note that we may revise statistics released each month in the future as we receive new data.
The Orlando MSA numbers include home sales in Orange, Seminole, Osceola, and Lake counties. These numbers are not limited to just ORRA members; any REALTOR® association member can contribute to them.
New Orlando Regional REALTOR® Association data shows spike in listings kicking off the new year
ORRA’s full State of the Market Report for March can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows spike in listings kicking off the new year
ORRA’s full State of the Market Report for February can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows spike in listings kicking off the new year
ORRA’s full State of the Market Report for January can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Regional REALTOR® Association releases overall 2023 data, revealing that rising interest rates were the biggest factor affecting housing market in 2023, slowing sales and boosting inventory.
(Cumulative 2023 totals compared to cumulative 2022 totals)
ORRA’s full State of the Market Report for December can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month September be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows inventory spikes as interest rates reach new heights.
ORRA’s full State of the Market Report for September can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month September be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows inventory spikes as interest rates reach new heights.
ORRA’s full State of the Market Report for September can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month September be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows rates reach highest level in over 20 years, contributing to market slowdown this fall.
ORRA’s full State of the Market Report for September can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month August be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for August 2023
New Orlando Regional REALTOR® Association data shows market continues to cool as fall season approaches
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for August can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month July be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for July 2023
New Orlando Regional REALTOR® Association data shows interest rates reach second-highest level in 20 years, impacting Orlando’s housing market
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for July can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month June be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for June 2023
New Orlando Regional REALTOR® Association data shows the highest median home price this year as an uptick in inventory hits the summer market
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for June can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for May 2023
New Orlando Regional REALTOR® Association data shows rise in sales and median home price as summer selling season heats up
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for May can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for April 2023
New Orlando Regional REALTOR® Association data shows rise in inventory and fall in home sales, indicating spring selling season may be balancing out
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for April can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for March 2023
New Orlando Regional REALTOR® Association data shows an increase in new listings and home sales as spring buying season begins
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for March can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for February 2023
New Orlando Regional REALTOR® Association data shows an increase in home sales and median home price heading into spring buying season
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for February can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for January 2023
New Orlando Regional REALTOR® Association data shows lowest number of home sales in nearly 15 years
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for January can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for December 2022
ORRA’s full State of the Market Report for December can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows home sales drop significantly heading into the holiday season
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for November can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association data shows interest rates reach highest level in over
20 years and how that’s impacting the local housing market
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for October can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for September 2022
New Orlando Regional REALTOR® Association data shows interest rates surge as home sales see biggest drop since January 2022
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for September can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for August 2022
New Orlando Regional REALTOR® Association data shows median home price falls for second consecutive month as homes spend more days on the market
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for August can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for July 2022
New Orlando Regional REALTOR® Association data shows median home price falls for first time in
six months as inventory spikes for the third straight month
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for July can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for June 2022
On the rise: New Orlando Regional REALTOR® Association data shows inventory and home prices make big jumps for the second consecutive month
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for June can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for May 2022
Orlando Regional REALTOR® Association’s May data shows the single biggest monthly surge in Orlando inventory ever
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for May can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for April 2022
Orlando Regional REALTOR® Association’s April data shows interest rates reach their highest levels in more than 10 years, indicating the market could be cooling off as overall monthly sales drop for the second time this year
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market Report for April can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for March 2022
Orlando Regional REALTOR® Association’s March data shows the spring market is in full swing with a surge in new listings and a record median home price; interest rates are also on the rise, hitting their highest point in over a decade
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for March can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Residential Real Estate Snapshot for February 2022
New Orlando Regional REALTOR® Association data shows the spring market starting to heat up with a record high median home price, increases in new listings and overall sales
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for February can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Regional REALTOR® Association’s newest data shows interest rates continue to rise at a slow pace while sales decrease
State of the Market
Market Snapshot
Inventory
ORRA’s full State of the Market report can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Regional REALTOR® Association releases overall 2021 data, revealing a historic year of real estate in Orlando, including an all-time record low for inventory and an all-time record high for median home price.
2021 Annual Market Recap
(Cumulative 2021 totals compared to cumulative 2020 totals)
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for December can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New data from Orlando Regional REALTOR® Association reveals slowing sales, as median home price continues to climb for seventh straight month
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for November can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New data from Orlando Regional REALTOR® Association reveals slowing sales, as median home price continues to climb for seventh straight month
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for October can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New data from Orlando Regional REALTOR® Association reveals slowing sales, as median home price continues to climb for seventh straight month
State of the Market
Market Snapshot
Inventory
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New data from Orlando Regional REALTOR® Association reveals slowing sales, as median home price continues to climb for seventh straight month
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for August can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New data from Orlando Regional REALTOR® Association reveals slowing sales, as median home price continues to climb for seventh straight month
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for July can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association report shows just three weeks of inventory available, as new listings quickly come under contract
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for June can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association report shows just three weeks of inventory available, as new listings quickly come under contract
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for May can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
New Orlando Regional REALTOR® Association report shows just three weeks of inventory available, as new listings quickly come under contract
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for April can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association report shows continued squeeze on the number of homes for sale
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for February can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
New Orlando Regional REALTOR® Association report shows continued squeeze on the number of homes for sale
State of the Market
Market Snapshot
Inventory
ORRA’s full Market Pulse Report for January can be found here.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
A new report from the Orlando Regional REALTOR® Association details how the housing market fared in 2020 compared to recent years. Despite the pandemic and its impacts, Orlando’s median home price rose as buyers scrambled to find homes in a market with consistently shrinking inventory.
According to the report, Orlando’s annual median home price for 2020 ($265,000) was 9.1% higher than the 2019 annual median price ($243,000), thanks to another 12 months of year-over-year median price increases. While the median home price rose each month, inventory continued to decline and reached a low in December 2020, when it reached the lowest level since July 2005.
Orlando home sales completed during 2020 racked up a final tally of 36,871, which is 0.5% above the cumulative sales total of 36,707 for 2019. For historical comparison, annual sales in 2019 were 1.8% above the cumulative total sales for 2018; yearly sales in 2018 were 3.2% lower than in 2017.
“The Orlando area was red-hot throughout 2020, as demand spiked and the number of houses on the market dropped throughout the year. We expect this pattern to continue in 2021,” said ORRA 2021 President Natalie Arrowsmith, NextHome Arrowsmith Realty. “Looking at the data, inventory has significantly decreased since the beginning of the year. In fact, December 2020 shows the lowest inventory we have seen in more than 15 years, which creates an extremely competitive market for buyers.”
Editor’s Note: Additional 2020 cumulative statistics are included at the end of this release
Median Price
The overall median price of Orlando homes (all types combined) sold in December is $275,000, which is 10.4% above the December 2019 median price of $249,000.
The median price for single-family homes that changed hands in December increased 12.1% over December 2019 and is now $296,950. The median price for condos increased by 5.7% to $148,000.
Sales and Inventory
Members of ORRA participated in 3,672 sales of all home types combined in December, which is 21.1% more than the 3,033 sales in December 2019 and 51.6% more than the 2,422 sales in December 2018.
Sales of single-family homes (2,890) in December 2020 increased by 20.1% compared to December 2019, while condo sales (401) increased 35.9% year over year.
The overall inventory of homes that were available for purchase in December (4,875) represents a decrease of 30.6% when compared to December 2019 and a 12.7% decrease compared to last month. There were 42.6% fewer single-family homes and 12.1% more condos, year over year.
Current inventory, combined with the current pace of sales, created a 1.3-month supply of homes in Orlando for December. There was a 2.3-month supply in December 2019 and a 3.3-month supply in December 2018, showing that inventory has significantly decreased.
The average interest rate paid by Orlando homebuyers in December 2020 was 2.70%, which remains the same as the month prior.
Homes that closed in December took an average of 45 days to move from listing to pending status.
Pending sales in December 2020 are up 20.9% compared to December 2019 and are down 11.4% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in December were up by 17.5% when compared to December of 2019. Year to date, sales are down 2.8%.
Each individual county’s sales comparisons are as follows:
2020 Annual Market Recap
(cumulative 2020 totals compared to cumulative 2019 totals)
Median Price
The 2020 annual median home price for 2020 ($265,00) is 9.1% higher than the 2019 annual median price ($243,000) and 14.0% higher compared to 2018’s annual median price ($232,500).
The annual median price of single-family homes increased by 9.6% to $285,000 in 2020, while the median price of condos increased by 7.4% to $145,000.
Sales
Sales in 2020 were up by 0.5% over 2019. A total of 36,871 homes were sold in 2020, compared to 36,707 the previous year.
Sales of single-family homes increased by 2.3% over 2019. Condo sales were down 10.2% and townhomes were down 1.2%.
By year’s end in 2020, 40,743 homes were sold in the Orlando MSA whereas 41,922 homes had been sold by year’s end in 2019, for a 2.8% decrease. Each individual county’s year-end sales comparisons are as follows:
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando Area Home Sales Hot for the Holidays, as Low Inventory Persists
(Released December 15, 2020) Plenty of people bought a new home in the Orlando area for the holidays, despite low inventory and the number of new listings falling to their lowest levels this year, according to a new report from the Orlando Regional REALTOR® Association. A total of 3,251 homes were sold in November, accounting for a 20.4% increase in sales over November 2019. However, inventory plummeted 26.2% during that same time period.
“There are fewer homes on the market, but they are selling quickly. The highest demand is for homes between $200,000 to $350,000,” said 2020 ORRA President Reese Stewart, RE/MAX Properties SW. “Sellers in this price range are getting multiple offers, sometimes within just a few hours. Buyers in this price range should check with their REALTOR® to ensure they have everything they need, so they’re ready to pounce when they see that dream home.”
The number of days on market (DOM) has fallen to an average of just 44 days, the lowest in three years. Low mortgage rates play a key role in driving the home buying frenzy, according to a survey of ORRA members this fall. Average rates have fallen to 2.7%, a dramatic difference from the past two years: 3.6% in 2019 and 4.9% in 2018.
Median Price
Low inventory coupled with high demand continues drive up home prices. The median price for all types of homes increased 14.6% from November 2019 to November 2020 and is now sitting at $275,000.
The median price for single-family homes rose 15.1% from $259,000 in November 2019 to $298,000 in November 2020. There was also a 2.8% increase from October.
For condos, there was also a significant change in price from year-to-year (11.1%). The median price was $135,000 in 2019 and increased to $150,000 in 2020. Prices were unchanged from October.
For duplexes, townhomes, and villas, the November median price rose 4.2% from $217,000 in 2019 to $226,000 in 2020 but dipped 5.0% from the prior month.
Sales and Inventory
A total of 2,592 single-family home sold in November, accounting for a 25% increase over November 2019, when 2,073 single-family homes sold.
Condos were the only housing category to show a year-over-year decline (4.1%) with 326 sales in November 2020 and 340 in November 2019.
Robust sales continue for townhomes, duplexes, and villas with a 15.6% jump over 2019. There were 333 units sold in November 2020, compared to 288 during November of last year.
November’s 37 distressed home sales accounted for just 1.14% of sales, fewer than the same time last year (4.3%) and the prior month (1.8%).
While the overall number of homes sold in November increased dramatically from 2019 to 2020, sales of all types showed significant declines compared to October. There were 10% fewer single-family homes, 14.9% condos and 10.9% duplexes townhomes and villas sold.
It would take on average 1.72 months to sell all the available inventory in the greater Orlando area right now. There is less than a month’s supply of homes in the price range of $180,000-350,000. Housing economists generally consider a five to six-month supply to indicate a healthy market that is balanced between buyers and sellers.
Forward-facing Indicators
Inventory shortages are putting the squeeze on home sales heading into the new year. For a second straight month, the number of pending home sales has decreased, and now stands at 4,688, a drop of 5.8%. The number of new homes listed for sale in November fell 3.8% year-over-year. However, new contracts rose from November 2019 by 14%, during what is typically a slow time of year.
“We are closing out the year the same way it began -- with inventory dropping and prices rising,” Stewart said. “We know that people are coming from other parts of Florida and the country to take advantage of Central Florida’s more affordable cost-of-living and desirable lifestyle.”
MSA Numbers
Home sales over the last few months have made up for lost ground during the COVID-19 shutdown in March. Year-to-date sales are down 4.6% overall. Across the entire Orlando MSA, home sales grew in November.
Each individual county's sales comparisons are as follows:
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Low Inventory of Homes for Sale Continues to Drive Up Orlando Area Home Prices
(Released November 16, 2020) The Orlando area avoided the typical fall slowdown and, instead, showed significant increases in homes sales and home prices in October, according to a new report from the Orlando Regional REALTOR® Association. Monthly housing report data reveals that the number of homes sold in October 2020 spiked 25% over October 2019, and the median price increased 11.6% during that same time frame.
"We're seeing strong home sales making up for steep declines earlier this year. REALTORS® are not seeing the usual slowdown as we head into the holiday season," said ORRA President Reese Stewart, RE/MAX Properties SW. "This October has more new listings than in previous years, and the most since July, indicating this market is likely to stay hot through the winter."
Overall year-to-date home sales for 2020 are down only 3% from last year, despite the impacts from COVID-19. A survey from ORRA, conducted earlier this fall, found that low-interest rates are the top reason buyers seek new homes. Mortgage rates continue to decline, with the average rate sitting at 2.72% for October.
Median Price
In October 2020, the overall median price was $269,950.
For a single-family home, the median price was $290,000, 10% higher than in October 2019. However, the price dipped slightly (1.9%), by $5,500, from September.
The median price for condos showed smaller gains from October 2019 (4.9%), but a 7.1% spike from September 2020, reaching $150,000.
For duplexes, townhomes, and villas, the October median price rose 9.2% from 2019 to $238,000, an increase of 3.5% from September.
Sales and Inventory
ORRA members sold 3,634 homes in October, an increase of 4% over September. Single-family homes sales, accounting for 2,877 homes, jumped 28.9% over last year (2,232) and 4.6% from the previous month (2,750).
The 383 condos sold were up 6% from 2019 (361) and down by 4% from September (399).
Townhomes, duplexes, and villas had dramatic gains, with the number sold (374) 19.5% higher than 2019. When comparing September and October, there was a 13.7% increase in the number of units sold.
The number of single-family homes on the market (3,880) declined 37% from 6,140 in October 2019. There were more condos, townhomes, villas, and duplexes available one year ago.
Low inventory remains a top concern for REALTORS®, as the trend continues into October. There was only a 1.61 month supply of homes for the Orlando area. If all homes on the market were sold, it would only take a little over six weeks. For houses between $140,000-349,999, it would take slightly more than a month. The average time spent on the market is 48 days, which is the same as September.
Housing economists generally consider a 5- to 6-month supply to indicate a healthy market that is balanced between buyers and sellers.
"We see a seller-driven market, and there is a tremendous amount of demand. Many sellers are getting multiple offers on their homes. It's not unusual to see homes selling a day or two after hitting the market. Buyers should come prepared and pre-approved, and expect to put in an offer quickly," Stewart said.
In October, there were 67 distressed homes, accounting for 1.84% of all Orlando area transactions.
Forward-facing Indicators
Tight inventory continues to play a role in the number of pending home sales (4,977). October is the first month to show a decline in homes under contract since April. Compared to a year ago, when there were 4,308 sales pending, there are 16% more homes under contract leading into the holiday season.
New contracts have also stayed steady from last month, with numbers rising from 3,400 to 3,409. That number is even higher when compared to 2019 (3,003).
MSA Numbers
Across the entire Orlando MSA, October sales prices grew considerably over last year, especially in Osceola and Seminole Counties.
Each individual county's sales comparisons are as follows:
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month of August be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Homes for Sale Continues to Drive Up Orlando Area Home Prices
(Released October 15, 2020) Orlando-area homes continue to fly off the market this fall, as inventory remains tight, according to a new report from the Orlando Regional REALTOR® Association. Monthly housing report data from September 2020 reveals fewer homes and higher prices than last year (September 2019), with a 23.3% drop in inventory and a 10.2% increase in the overall median home price to $270,000.
"While spring is usually the busiest time for home sales, fall seems to show no signs of a slow-down. COVID-19 has changed the dynamic for 2020. We have seen mortgage rates continue to decline to an average of 2.74%, giving buyers additional incentives this fall. However, the majority of the Orlando market, priced $500K and below, is still tipped in favor of sellers, with so few homes on the market," says ORRA President Reese Stewart, RE/MAX Properties SW. "If we were to sell all the single-family homes, priced between $90K and $500K, in the Orlando area right now, it's likely it would take less than two months."
Housing economists generally consider a 5- to 6-month supply to indicate a healthy market that is balanced between buyers and sellers.
Homes sold in September only spent an average of 48 days on the market, a decrease from 51 in August.
Median Price
In September, the median price for single-family homes remained flat, only increasing $500 from August to $295,500. However, that number is up 11.5% from September 2019, when the median price was $265,000.
The median price for condos showed less of a gain, hovering around $140,000, an increase of 5.8% over September 2019. For duplexes, townhomes, and villas, the September median price rose 6.9% year-over-year to $229,999.
Sales and Inventory
Homes sold in September only spent an average of 48 days on the market, a decrease from 51 in August.
ORRA members participated in 3,478 sales of all home types combined in September, a dramatic gain of 16.36% over last year. Sales were down slightly (1.7%) from August.
This fall marked a large increase (19.4%) in the number of sales for single-family homes but a severe drop in inventory over last year. A total of 2,750 single-family homes changed hands, and the supply of homes dropped 34.6% to 3,986 homes on the market compared to 6,102 during the same time last year.
For condos, inventory was up 18.2% between September 2019 and September 2020, when 1,240 hit the market. However, the number of sales remained flat from 400 last year to 399 this year.
More duplexes, townhomes, and villas hit the market and were sold in September 2020, versus 2019. The number of sales showed a 15% gain from 2019. Inventory increased 17.8% from 633 last year to 746 this year. The median price, sales, and inventory all saw boosts from August 2020 to September 2020.
In September, there were 43 sales of distressed homes (foreclosures and short sales), accounting for 1.24% of all home sales.
Forward-facing Indicators
The Orlando area's housing market shows no signs of slowing, as pending sales remain flat from August (5,467) to September (5,429). When compared to last year, there were 23.3% more homes pending this year.
New contracts have also risen year-over-year from 2,757 to 3,400. However, they have declined since last month by 4.5%.
MSA Numbers
Tight inventory has taken its toll on sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties). For the year, sales are down by 9.25% overall. However, all local counties saw gains over September 2019.
Each individual county's sales comparisons are as follows:
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month August be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando home sales, median price increase as inventory continues freefall
(Released September 15, 2020) A spring of paused transactions have propelled an upswing in buyer activity that continued in August and sent Orlando area home sales into positive territory for the second consecutive month, reports the Orlando Regional REALTOR® Association. Orlando’s median price also continued on its upward path, while inventory again fell to a new low.
A spring of paused transactions have propelled an upswing in buyer activity that continued in August and sent Orlando area home sales into positive territory for the second consecutive month, reports the Orlando Regional REALTOR® Association. Orlando’s median price also continued on its upward path, while inventory again fell to a new low.
“Lack of inventory — not lack of buyer activity, as you would expect — is clearly shaping up to be the concerning result of the COVID-19 pandemic,” says ORRA President Reese Stewart, RE/MAX Properties SW. “In fact, the availability of single-family properties within our most in-demand price ranges of $160,000 to $400,000 is startling; less than a single month of supply.”
Housing economists generally consider a 5- to 6-month supply to indicate a healthy market that is balanced between buyers and sellers.
Median Price
The overall median price of Orlando homes (all types combined) sold in August is $275,000, which is 10.0% above the August 2019 median price of $250,000 and 1.9% above the July 2020 median price of $270,000.
The median price for single-family homes that changed hands in August increased 9.3% over August 2019 and is now $295,000. The median price for condos increased 11.3% to $152,500 and townhomes/villas/duplexes increased 4.2% to $225,900.
The Orlando housing affordability index for August is 137.47%, down from 137.74% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyer affordability index decreased to 97.76 from 97.95 last month.
Sales and Inventory
Members of ORRA participated in 3,539 sales of all home types combined in August, which is 4.2% more than the 3,397 sales in August 2019 and 3.8% more than the 3,679 sales in July 2020.
Sales of single-family homes (2,868) in August 2020 increased by 7.5% compared to August 2019, while condo sales (367) decreased 12.8% year over year. Duplexes, townhomes, and villas (304 combined) decreased 1.6% over August 2019.
Sales of distressed homes (foreclosures and short sales) reached 82 in August and are 4.7% less than the 86 distressed sales in August 2019. Distressed sales made up 2.5% of all Orlando-area transactions last month.
The average interest rate paid by Orlando homebuyers in August was 2.85%, down from 2.97% the month prior.
Homes that closed in August took an average of 49 days to move from listing to pending and an average of 44 days between pending and closing, for an average total of 93 days from listing to closing (equal to a total of 93 days the month prior).
The overall inventory of homes that were available for purchase in August (5,958) represents a decrease of 22.1% when compared to August 2019, and a 4.2% decrease compared to last month. There were 34.3.% fewer single-family homes; 20.3% more condos; and 28.3% more duplexes/townhomes/villas, year over year.
Forward-facing Indicators
Pending sales in August are up 15.8% compared to August of last year and are down 1.7% compared to last month.
New contracts are up 11.4% year over year, and new listings are up 3.3%
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in August were 0.7% lower than in August of 2019. To date, sales in the MSA are down by 11.3%.
Each individual county’s sales comparisons are as follows:
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month August be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando home sales and median price increase in July as inventory plummets
Orlando’s housing market in July saw a surge in buyer activity that tipped home sales back into the black after three months of precipitous year-over-year declines caused by the COVID-19 pandemic, reports the Orlando Regional REALTOR® Association. The median price of homes sold in Orlando continued on its upward path, while inventory fell to its lowest level this year.
“The steep pause in closing activity during April, May, and June created a transaction surge in July that was actually 1% greater than in July of last year,” explains ORRA President Reese Stewart, RE/MAX Properties SW, who also notes low interest rates as a factor that is driving buyers. “Orlando REALTORS® across the board are reporting a level of buyer demand that continues to far exceed the supply of available properties. We can easily attribute any future depression in sales to an accelerating lack of inventory.”
Median Price
The overall median price of Orlando homes (all types combined) sold in July is $270,000, which is 9.2% above the July 2019 median price of $247,250 and 1.9% above the June 2020 median price of $265,000.
The median price for single-family homes that changed hands in July increased 10.1% over July 2019 and is now $295,000. The median price for condos increased 5.1% to $145,000 and townhomes/villas/duplexes increased 4.6% to $224,900.
The Orlando housing affordability index for July is 137.74%, down from 139.10% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyer affordability index decreased to 97.95 from 98.92 last month.
Sales and Inventory
Members of ORRA participated in 3,679 sales of all home types combined in July, which is 1.4% more than the 3,628 sales in July 2019 and 18.6% more than the 3,103 sales in June 2020.
Sales of single-family homes (2,920) in July 2020 increased by 2.4% compared to July 2019, while condo sales (401) decreased 4.8% year over year. Duplexes, townhomes, and villas (358 combined) increased 0.9% over July 2019.
Sales of distressed homes (foreclosures and short sales) reached 79 in July and are 27.5% less than the 109 distressed sales in July 2019. Distressed sales made up 2.2% of all Orlando-area transactions last month.
The average interest rate paid by Orlando homebuyers in July was 2.97%, down from 3.04% the month prior.
Homes that closed in July took an average of 54 days to move from listing to pending and an average of 39 days between pending and closing, for an average total of 93 days from listing to closing (up from a total of 87 days the month prior).
The overall inventory of homes that were available for purchase in July (6,220) represents a decrease of 22.2% when compared to July 2019, and a 5.1% decrease compared to last month. There were 32.7% fewer single-family homes; 11.4% more condos; and 22.8% more duplexes/townhomes/villas, year over year.
Forward-facing Indicators
Pending sales in July are up 8.7% compared to July of last year and are down 1.5% compared to last month.
New contracts are up 8.2% year over year, and new listings are up 3.6%
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in July were 2.1% lower than in July of 2019. To date, sales in the MSA are down by 13.6%.
Each individual county’s sales comparisons are as follows:
*Lake: 6.8% above July 2019;
*Orange: 5.2% below July 2019;
*Osceola: 4.3% below July 2019; and
*Seminole: 0.5% above July 2019.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month July be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando's June home sales surge as COVID-19 candemic continues
Orlando home sales are surging despite the region’s continuing struggle with COVID-19. A new report from the Orlando Regional REALTOR® Association shows that home sales skyrocketed in June, up nearly 46% from May. The number of homes for sale continues to be an issue, as June inventory experienced a decline of 19% when compared to June of 2019.
“Despite the ongoing pandemic, there is still strong demand from homebuyers throughout the Orlando area. With virtual tours and other measures, such as limiting in-person showings, REALTORS® have been able to accommodate buyers and sellers and conduct business while maintaining safety protocols,” said 2020 ORRA President Reese Stewart, RE/MAX Properties SW. “The outlook continues to be positive, as pending sales in June were also up, showing an increase of 14.5% from May.”
Median Price
The overall median price of Orlando homes (all types combined) sold in June was $265,000, which is 6% above the June 2019 median price of $249,999 and 1.9% above the May 2020 median price of $259,900.
The median price for single-family homes sold in June 2020 increased 3.7% over June 2019 and is now $280,000. The median price for condos increased 4.9% to $141,000 and townhomes/villas/duplexes increased 0.5% to $219,950.
The Orlando housing affordability index for June was 139.10%, up from 138.37% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyer’s affordability index increased to 98.92% from 98.40% last month.
Sales and Inventory
Members of ORRA participated in 3,103 sales of all home types combined in June, which is 9% less than the 3,412 sales in June 2019 and 45.9% more than the 2,127 sales in May 2020.
Sales of single-family homes (2,478) in June 2020 decreased by 8.2% compared to June 2019, while condo sales (325) decreased 20% year over year. Duplexes, townhomes, and villas (300 combined) increased 2.6% over June 2019.
Sales of distressed homes (foreclosures and short sales) reached 87 in June and are 25.6% less than the 117 distressed sales in June 2019. Distressed sales made up 2.8% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in June (6,557) represents a decrease of 18.6% when compared to June 2019, and a 9.7% decrease compared to last month. There were 26.8% fewer single-family homes; 6.3% more condos; and 19% more duplexes/townhomes/villas, year over year.
Current inventory combined with the current pace of sales created a 2.1-month supply of homes in Orlando for June. There was a 2.4-month supply in June of last year and a 3.4-month supply last month.
The average interest rate paid by Orlando homebuyers in June was 3.04%, down from 3.22% the month prior.
Homes that closed in June took an average of 52 days to move from listing to pending and an average of 38 days between pending and closing, for an average total of 90 days from listing to closing (up from a total of 87 days the month prior).
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in June were 13.4% lower than June of 2019. To date, sales in the MSA are down by 15.8%.
Each individual county’s sales comparisons are as follows:
*Lake: 15.6% below June 2019;
*Orange: 18.5% below June 2019;
*Osceola: 6.8% below June 2019; and
*Seminole: 3.6% below June 2019.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor Stellar MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by Stellar MLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month March be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando median home price continues to rise in May as closings and inventory fall
The median price of homes sold in May increased nearly 7% while transactions dropped 44% during the second month to illustrate the impact of COVID-19 on Orlando’s housing market. Inventory experienced a year-over-year decline of 11%, reports the Orlando Regional REALTOR® Association.
“Despite year-over-year comparison that are in the red, our month-over-month forward-facing indicators are showing signs of eagerness within the market,” says ORRA President Reese Stewart, RE/MAX Properties SW. “For example, when compared to the previous month, pending sales, new listings, and new contracts are up by double digits. In fact, the number of new contracts in May soared 61 percent compared to April.”
Median Price
The overall median price of Orlando homes (all types combined) sold in May is $259,900, which is 7.0% above the May 2019 median price of $243,000 and 1.5% below the April 2020 median price of $263,750.
The median price for single-family homes that changed hands in May increased 5.4% over May 2019 and is now $277,250. The median price for condos increased 2.8% to $140,000 and townhomes/villas/duplexes increased 3.1% to $218,250.
The Orlando housing affordability index for May is 138.37%, up from 136.60% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 98.4% from 97.14% last month.
Sales and Inventory
Members of ORRA participated in 2,127 sales of all home types combined in May, which is 44.1% less than the 3,806 sales in May 2019 and 11.1% less than the 2,393 sales in April 2020.
Sales of single-family homes (1,732) in May 2020 decreased by 42.5% compared to May 2019, while condo sales (193) decreased 55.3% year over year. Duplexes, townhomes, and villas (202 combined) decreased 44.5% over May 2019.
Sales of distressed homes (foreclosures and short sales) reached 70 in May and are 46.1% less than the 130 distressed sales in May 2019. Distressed sales made up 3.3% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in May (7,260) represents a decrease of 10.6% when compared to May 2019, and a 5.2% decrease compared to last month. There were 18.4% fewer single-family homes; 9.5% more condos; and 35.3% more duplexes/townhomes/villas, year over year.
Current inventory combined with the current pace of sales created a 3.4-month supply of homes in Orlando for May. There was a 2.1-month supply in May of last year and a 3.2-month supply last month.
The average interest rate paid by Orlando homebuyers in May was 3.22%, up from 3.20% the month prior.
Homes that closed in May took an average of 48 days to move from listing to pending and an average of 39 days between pending and closing, for an average total of 87 days from listing to closing (up from a total of 84 days the month prior).
Pending sales in May are down 13.5% compared to May of last year and are up 34.0% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in May were 43.9% lower than in May of 2019. To date, sales in the MSA are down by 16.4%.
Each individual county’s sales comparisons are as follows:
*Lake: 30.4% below May 2019;
*Orange: 46.2% below May 2019;
*Osceola: 50.5% below May 2019; and
*Seminole: 42.2% below May 2019.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month May be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando median home price rises as April numbers reveal an expected decline in closings
(Released May 15, 2020) Orlando’s housing market in April saw its median home price increase 12%, while home sales dropped 28% in the first month to show an anticipated decline in activity as a result of the COVID-19 pandemic. Inventory experienced a year-over-year decline of 3%, reports the Orlando Regional REALTOR® Association.
“Our market — like those nationwide — is grappling with the coronavirus-induced slowdown,” says ORRA President Reese Stewart, RE/MAX Properties SW. “Orlando REALTORS® anticipate listings and buying activity will eventually resume, especially given our history of demand versus low supply along with the record low mortgage rates that increase buyers’ purchasing power.”
“Although the pandemic is a major disruption in regard to sales, Orlando home prices held up in April and even increased due to the ongoing housing shortage, continues Stewart. “However, while lack of inventory in the lower-price categories will likely safeguard prices, it’s possible the upper-end market segment could experience a decline in values.”
Median Price
The overall median price of Orlando homes (all types combined) sold in April is $263,750, which is 12.2% abov
e the April 2019 median price of $235,000 and 4.0% above the March 2020 median price of $253,500.
The median price for single-family homes that changed hands in April increased 9.0% over April 2019 and is now $278,000. The median price for condos increased 5.1% to $145,000 and townhomes/villas/duplexes increased 5.6% to $225,000.
The Orlando housing affordability index for April is 136.60, down from 137.63, down from last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased to 97.14 from 97.87 last month.
Sales and Inventory
Members of ORRA participated in 2,393 sales of all home types combined in April, which is 28.1% less than the 3,329 sales in April 2019 and 25.3% less than the 3,204 sales in March 2020.
Sales of single-family homes (1,926) in April 2020 decreased by 24.0% compared to April 2019, while condo sales (249) decreased 42.5% year over year. Duplexes, townhomes, and villas (218 combined) decreased 37.2% over April 2019.
Sales of distressed homes (foreclosures and short sales) reached 61 in April and are 41.9% less than the 105 distressed sales in April 2019. Distressed sales made up 2.6% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in April (7,659) represents a decrease of 2.9% when compared to April 2019, and a 4.3% increase compared to last month. There were 8.7% fewer single-family homes; 6.9% more condos; and 42.4% more duplexes/townhomes/villas, year over year.
Current inventory combined with the current pace of sales created a 3.2-month supply of homes in Orlando for April. There was a 2.4-month supply in April of last year and a 2.3-month supply last month.
The average interest rate paid by Orlando homebuyers in April was 3.20%, down from 3.45% the month prior.
Homes that closed in April took an average of 47 days to move from listing to pending and an average of 39 days between pending and closing, for an average total of 86 days from listing to closing (down from a total of 91 days the month prior).
Pending sales in April are down 36.3% compared to April of last year and are down 17.1% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in April were 32.4% lower than in April of 2019. To date, sales in the MSA are down by 7.2%.
Each individual county’s sales comparisons are as follows:
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month April be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
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Orlando sales and median price record increases as housing market awaits impact from COVID-19
Orlando’s housing market in March saw its home sales improve by nearly 2% compared to March 2019, while the median price increased by 8%. Inventory experienced a year-over-year decline of 10%, reports the Orlando Regional REALTOR® Association.
ORRA President Reese Stewart, RE/MAX Properties SW, points out that we will have to wait another month to see solid evidence of the influence of the COVID-19 pandemic in Orlando’s home sales statistics. “Because of the amount of time it traditionally takes a home to move through the transaction process (an average of 37 days in March), the properties that closed in March most likely went under contract sometime in February, before the stock market declines and stay-at-home orders.”
“It’s important to remember that we’re in a global pandemic, not a real estate recession. Orlando is a vibrant destination in great demand to new residents, international homebuyers, investors, etc.,” continues Stewart. “It’s clear we are probably going to see a slowdown in sales, but we can’t offer short-term market predictions because this is a situation the likes of which we’ve never encountered. However, we are confident in the long-term strength of Orlando’s real estate market.”
Median Price
The overall median price of Orlando homes (all types combined) sold in March is $253,500, which is 7.9% above the March 2019 median price of $235,000 and 1.4% above the February 2020 median price of $250,000.
According to Stewart, the increase in median price can be attributed in part to the historically low interest rates that increase purchasing power and allow buyers to qualify for homes with higher price tags.
The median price for single-family homes that changed hands in March increased 5.9% over March 2019 and is now $270,000. The median price for condos increased 14.5% to $146,000 and townhomes/villas/duplexes increased 5.0% to $220,000.
The Orlando housing affordability index for March is137.63, down from 139.71 last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased to 97.87 from 99.35% last month.
Sales and Inventory
Members of ORRA participated in 3,204 sales of all home types combined in March, which is 2.0% more than the 3,142 sales in March 2019 and 27.1% more than the 2,521 sales in February 2020.
Sales of single-family homes (2,544) in March 2020 increased by 3.3% compared to March 2019, while condo sales (352) decreased 11.3% year over year. Duplexes, townhomes, and villas (308 combined) increased 9.2% over March 2019.
Sales of distressed homes (foreclosures and short sales) reached 80 in March and are 27.3% less than the 110 distressed sales in March 2019. Distressed sales made up 2.5% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in March (7,341) represents a decrease of 9.6% when compared to March 2019, and a 7.6% increase compared to last month. There were 14.2% fewer single-family homes; 1.3% fewer condos; and 27.3% more duplexes/townhomes/villas, year over year.
Current inventory combined with the current pace of sales created a 2.3-month supply of homes in Orlando for March. There was a 2.6-month supply in March of last year and a 2.7-month supply last month.
The average interest rate paid by Orlando homebuyers in March was 3.45%, up from 3.43% the month prior.
Homes that closed in March took an average of 54 days to move from listing to pending and an average of 37 days between pending and closing, for an average total of 91 days from listing to closing (down from a total of 94 days the month prior).
Pending sales in March are down 14.9% compared to March of last year and are down 14.7% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in March were, coincidentally, exactly the same as in March of 2019: 3,612. To date, sales in the MSA are up by 4.1%
Each individual county’s sales comparisons are as follows:
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month March be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando home sales and median price tick upward as inventory continues to drop
Orlando’s housing market in February saw its home sales improve by more than 4% compared to February 2019, while the median price experienced a 6% percent increase. Inventory experienced a year-over-year decline of 17% and continues to be a mitigating factor, reports the Orlando Regional REALTOR® Association.
ORRA President Reese Stewart, RE/MAX Propeties SW, points out that Orlando REALTORS®, like those across the country, anticipate an impact from the coronavirus situation on the real estate market but are unable to predict what that might be.
“For example if buyer demand eases, we could see a positive influence on Orlando’s critically low inventory levels while at the same time seeing a negative impact on sales,” says Stewart. “On the flip side, if prospective sellers decide not to list their homes for the traditional spring/summer selling season, there could be a further decline in the number of homes available for purchase in the Orlando area.”
Stewart also emphasizes that homebuyers and sellers can turn to their REALTORS® for a discussion of best safety practices related to mitigating the risk of coronavirus. Options include maximizing technology such as video home tours, or implementing pre- and post-showing sanitization routines for both buyers and sellers.
Median Price
The overall median price of Orlando homes (all types combined) sold in February is $250,000, which is 6.4% above the February 2019 median price of $235,000 and up 2.0 % compared to the January 2020 median price of $245,000.
The median price for single-family homes that changed hands in February increased 8.0% over February 2019 and is now $270,000. The median price for condos increased 6.2% to $145,500.
The Orlando housing affordability index for February is 139.71, down from 140.36 last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased a fraction to 99.35 from 99.81% last month.
Sales and Inventory
Members of ORRA participated in 2,521 sales of all home types combined in February, which is 4.4% more than the 2,414 sales in February 2019 and 11.1% more than the 2,270 sales in January 2020.
Sales of single-family homes (1,959) in February 2020 increased by 4.5.0% compared to February 2019, while condo sales (326) increased 16.9% year over year. Duplexes, townhomes, and villas (236 combined) decreased 9.6% over February 2019.
Sales of distressed homes (foreclosures and short sales) reached 113 in February and are 5.6% more than the 107 distressed sales in February 2019. Distressed sales made up 4.4% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in February (6,825) represents a decrease of 16.7% when compared to February 2019, and a 2.9% decrease compared to last month. There were 19.9% fewer single-family homes; 11.1% fewer condos; and 7.7% more duplexes/townhomes/villas, year over year.
Current inventory combined with the current pace of sales created a 2.7-month supply of homes in Orlando for February. There was a 3.4-month supply in February of last year and a 3.1-month supply last month.
The average interest rate paid by Orlando homebuyers in February was 3.43%, down from 3.55% the month prior.
Homes that closed in February took an average of 58 days to move from listing to pending and an average of 36 days between pending and closing, for an average total of 94 days from listing to closing (down from a total of 98 days the month prior).
Pending sales in February are up 10.9% compared to February of last year and are up 20.4% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in February were up by 2.8% when compared to February of 2019. To date, sales in the MSA are up by 6.9%
Each individual county’s sales comparisons are as follows:
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month February be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
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Orlando home sales, median price jump as inventory plummets in January
Orlando’s housing market in January marked a second consecutive month of double-digit year-over-year sales increases, reports the Orlando Regional REALTOR® Association. Sales improved by more than 16 percent compared to January 2019, while the median price experienced an 8 percent increase. However, the numbers of homes available for purchase in Orlando dropped by nearly 15 percent.
ORRA President Reese Stewart, RE/MAX Properties SW, points toward few interesting pieces of data in this month’s housing report. “First off, Osceola County’s 25 percent increase in sales was by far the greatest of the four counties that make up the Orlando Metropolitan Statistical Area,” says Stewart. “Secondly, sales of duplexes, townhomes, and villas surged 37 percent above the January 2019 tally, and likely reflects our ongoing shortage of single-family homes priced below $300,000.”
Median Price
The overall median price of Orlando homes (all types combined) sold in January is $245,000, which is 7.9% above the January 2019 median price of $227,000 and down 1.6% compared to the December 2019 median price of $249,000.
The median price for single-family homes that changed hands in January increased 6.9% over January 2019 and is now $265,000. The median price for condos increased 11.2% to $139,000.
The Orlando housing affordability index for January is 140.36, up from 135.73% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 99.81% from 96.52% last month.
Sales and Inventory
Members of ORRA participated in 2,270 sales of all home types combined in January, which is 16.4% more than the 1,950 sales in January 2019 and 25.2% less than the 3,033 sales in December 2019.
Sales of single-family homes (1,751) in January 2020 increased by 17.0% compared to January 2019, while condo sales (294) increased 1.7% year over year. Duplexes, townhomes, and villas (225 combined) leapt 37.2 percent over January 2019.
Sales of distressed homes (foreclosures and short sales) reached 108 in January and are 16.1% more than the 93 distressed sales in January 2019. Distressed sales made up 4.8% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in January (7,030) represents a decrease of 14.7% when compared to January 2019, and a 0.1% increase compared to last month. There were 16.0% fewer single-family homes; 11.9% less condos; and 7.0% less duplexes/townhomes/villas, year over year.
Current inventory combined with the current pace of sales created a 3.10-month supply of homes in Orlando for January. There was a 4.2-month supply in January 2019 and a 2.3-month supply in December 2019.
The average interest rate paid by Orlando homebuyers in January was 3.55%, down from 3.66% the month prior.
Homes that closed in January took an average of 60 days to move from listing to pending and an average of 38 days between pending and closing, for an average total of 98 days from listing to closing (static from a total of 91 days the month prior).
Pending sales in January are up 7.8% compared to January of last year and are up 25.9% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in January were up by 11.8% when compared to January of 2019.
Each individual county’s sales comparisons are as follows:
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month January be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando housing market closes out 2019 with slight increases in median price and sales
Orlando’s annual median home price for 2019 ($242,000) is 4.1% higher than the 2018 annual median price ($232,500) thanks to another 11 months of year-over-year median price increases, according to the Orlando Regional REALTOR® Association’s year-end report. Only one month in 2019, April, posted a decline in median price.
Orlando home sales completed during 2019 racked up a final tally of 36,694, which is 1.8% above the cumulative sales total of 36,057 for 2018. For a bit of historical comparison, annual sales in 2018 were 3.2% lower than in 2017.
ORRA President Reese Stewart, RE/MAX Properties SW, sees the Orlando’s 2020 housing market continuing along a path similar to 2019. “Orlando REALTORS® expect high demand from buyers in 2020, but only moderate gains in home sales due to our chronic low inventory. Those same forces are expected to buoy median price gains at a decelerated but healthy rate.”
“Furthermore, we expect continued seller’s market conditions overall and particularly within the lower price categories, where lack of inventory is most significant,” explains Stewart. “Luxury homebuyers, however, have much to cheer about as data shows that inventory levels at the price point of $750,000 and above moves the needle firmly into buyer’s market territory.”
Note: Additional 2019 cumulative statistics are included at the end of this release
December 2019 Market Recap
Median Price
The overall median price of Orlando homes (all types combined) sold in December is $249,700, which is 7.6% above the December 2018 median price of $232,000 and up 4.0% compared to the November 2019 median price of $240,000. 
The median price for single-family homes that changed hands in December increased 5.0% over December 2018 and is now $265,000. The median price for condos increased 5.3% to $139,000.
The Orlando housing affordability index for December is 135.73% down from 141.87% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased to 96.52% from 100.88% last month.
Sales and Inventory
Members of ORRA participated in 3,020 sales of all home types combined in December, which is 24.7% more than the 2,422 sales in December 2018 and 11.8% more than the 2,701 sales in November 2019.
Sales of single-family homes (2,401) in December 2019 increased by 27.7% compared to December 2018, while condo sales (294) decreased 2.3% year over year.
Sales of distressed homes (foreclosures and short sales) reached 103 in December and are 10.8% more than the 93 distressed sales in December 2018. Distressed sales made up 3.4% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in December (7,023) represents a decrease of 10.8% when compared to December 2018, and a 7.1% decrease compared to last month. There were 12.2% fewer single-family homes and 9.2% less condos, year over year.
Current inventory combined with the current pace of sales created a 2.3-month supply of homes in Orlando for December. There was a 3.3-month supply in December 2018 and a 2.8-month supply in November 2019.
The average interest rate paid by Orlando homebuyers in December was 3.66%, up from 3.61% same as the month prior.
Homes that closed in December took an average of 54 days to move from listing to pending and an average of 37 days between pending and closing, for an average total of 91 days from listing to closing (static from a total of 91 days the month prior).
Pending sales in December are up 6.9% compared to December of last year and are down 18.6% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in December were up by 18.0% when compared to December of 2018. Year to date, sales are down 1.3%.
Each individual county’s sales comparisons are as follows:
2019 Annual Market Recap
(cumulative 2019 totals compared to cumulative 2018 totals)
Median Price
The 2019 annual median price of $242,000 is an increase of 4.1% when compared to 2018’s annual median price of $232,500.
The annual median price of single-family homes increased 3.0% to $260,000 in 2019, while the median price of condos increased 7.1% to $135,000.
Sales
Sales in 2019 were up by 1.8% over 2018. A total of 36,694 homes were sold in 2019 compared to 36,057 the previous year.
Sales of single-family homes decreased 2.8% over 2018; condo sales were up 0.7% and townhomes were down 4.6%
By year’s end in 2019, 41,910 homes were sold in the Orlando MSA whereas 42,448 homes had been sold by year’s end in 2018, for a 1.3% decrease. Each individual county’s year-end sales comparisons are as follows:
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month December be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando home sales, median price on the rise in November while inventory drops
Orlando’s housing market in recorded 3% year-over-year increases in both median price and sales in November, reports the Orlando Regional REALTOR® Association. The association’s data also show that the inventory of homes available for purchase declined for the fourth consecutive month, with November’s 10 percent drop the steepest of 2019.
“Despite our ongoing inventory challenge, there are some very interesting forward-looking indicators this month,” says ORRA President Jeffrey M. Fagan, Watson Realty Corp. “For example, the pending sales tally is up 17 percent compared to November of last year, and the new-contract count is up a whopping 28 percent. While some of this movement can be attributed to the traditional rush to close before the new year and desire to take advantage of homeownership’s tax benefits, I’d point my finger squarely at the very favorable interest rate that homebuyers are currently enjoying.”
Median Price
The overall median price of Orlando homes (all types combined) sold in November is $240,000, which is 3.0% above the November 2018 median price of $233,000 and down 0.8% compared to the October 2019 median price of $242,000.
The median price for single-family homes that changed hands in November increased 3.2% over November 2018 and is now $259,000. The median price for condos increased 0.3% to $135,000.
The Orlando housing affordability index for November is 141.87% up from 140.70% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 100.88% from 100.05% from last month.
Sales and Inventory
Members of ORRA participated in 2,671 sales of all home types combined in November, which is 3.3% more than the 2,585 sales in November 2018 and 8.1% less than the 2,906 sales in October 2019.
Sales of single-family homes (2,044) in November 2019 increased by 2.9% compared to November 2018, while condo sales (340) increased 3.0% year over year.
Sales of distressed homes (foreclosures and short sales) reached 113 in November and are 12.4% less than the 129 distressed sales in November 2018. Distressed sales made up 4.2% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in November (7,562) represents a decrease of 10.3% when compared to November 2018, and a 3.5% decrease compared to last month. There were 11.2% fewer single-family homes and 12.3% less condos, year over year.
Current inventory combined with the current pace of sales created a 2.8-month supply of homes in Orlando for November. There was a 3.3-month supply in November 2018 and a 2.7-month supply in October 2019.
The average interest rate paid by Orlando homebuyers in November was 3.61%, the same as the month prior.
Homes that closed in November took an average of 54 days to move from listing to pending and an average of 37 days between pending and closing, for an average total of 91 days from listing to closing (static from a total of 91 days the month prior).
Pending sales in November are up 17.4% compared to November of last year and are down 2.1% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in November were down by 0.6% when compared to November of 2018. To date, sales are down 2.7%.
Each individual county’s sales comparisons are as follows:
*Lake: 3.1% above November 2018;
*Orange: 0.8% below November 2018;
*Osceola: 5.1% below November 2018; and
*Seminole: 0.9% above November 2018.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month November be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando median price rises in October while sales and inventory drop
Orlando’s housing market in recorded a 6% year-over-year increase in median price and a small 1% decrease in sales in October. The inventory of homes available for purchase appears to be back on a declining trend, with a decrease (5%) for the third consecutive month.
“Low inventory translates into opportunity for sellers,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “Declining interest rates mean greater purchasing power, which is alluring to buyers, and our local demand is illustrated by an 8 percent increase in pending sales for October.”
“The holidays and wintertime are actually excellent times to list a home, especially here in Orlando where we don’t have weather concerns” continues Fagan, “Those who are searching for a home during these periods tend to be very serious about making a purchase, and with fewer customers real estate service providers tend to be more attentive.”
October Housing Market Indicators
Median Price
The overall median price of Orlando homes (all types combined) sold in October is $242,000, which is 5.7% above the October 2018 median price of $229,000 and down 1.2% compared to the September 2019 median price of $245,000.
The median price for single-family homes that changed hands in October increased 5.2% over October 2018 and is now $263,000. The median price for condos increased 12.8% to $143,500.
The Orlando housing affordability index for October is 140.70, up from 137.63% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 100.05 from 97.87% from last month.
Sales and Inventory
Members of ORRA participated in 2,899 sales of all home types combined in October, which is 0.9% less than the 2,924 sales in October 2018 and 3.0% less than the 2,989 sales in September 2019.
Sales of single-family homes (2,227) in October 2019 decreased by 0.1% compared to October 2018, while condo sales (360) decreased 10.5% year over year.
Sales of distressed homes (foreclosures and short sales) reached 100 in October and are 20.0% less than the 125 distressed sales in October 2018. Distressed sales made up 3.5% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in October (7,837) represents a decrease of 5.3% when compared to October 2018, and a 0.7% increase compared to last month. There were 6.4% fewer single-family homes and 5.4% less condos, year over year.
Current inventory combined with the current pace of sales created a 2.7-month supply of homes in Orlando for October. There was a 2.8-month supply in October 2018 and a 2.6-month supply in September 2019.
The average interest rate paid by Orlando homebuyers in October was 3.61%, down from 3.68% the month prior.
Homes that closed in October took an average of 54 days to move from listing to pending and an average of 37 days between pending and closing, for an average total of 91 days from listing to closing (up from a total of 89 days the month prior).
Pending sales in October are up 8.3% compared to October of last year and are up 0.6% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in October were down by 1.6% when compared to October of 2018. To date, sales are down 2.9%.
Each individual county’s sales comparisons are as follows:
*Lake: 5.8% above October 2018;
*Orange: 2.8% below October 2018;
*Osceola: 0.7% below October 2018; and
*Seminole: 5.7% below October 2018.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month October be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando median price and sales both rise in September; inventory dips
Orlando’s housing market in September recorded year-over-year increases in both sales (7%) and median price (5%). The inventory of home available for purchase, however, saw a second consecutive decline after nine months of positive postings.
“The unexpected boost in post-summertime sales can be attributed in part to encouragement from falling interest rates,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “The average interest rate paid by Orlando homebuyers have dropped each month this year since February, and the September average rate of 3.68% is down 21% from the September 2018 average rate of 4.66 percent.”
Fagan also points out that lower interest rates help homebuyers overcome rising prices by providing more purchasing power.
September Housing Market Indicators
Median Price
The overall median price of Orlando homes (all types combined) sold in September is $245,000, which is 5.2% above the September 2018 median price of $233,000 and down 2.0% compared to the August 2019 median price of $250,000.
The median price for single-family homes that changed hands in September increased 19.4% over September 2018 and is now $303,000. The median price for condos increased 34.3% to $167,886.
The Orlando housing affordability index for September is 137.63%, up from 134.06% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 97.87% from to 95.33% last month.
Sales and Inventory
Members of ORRA participated in 2,972 sales of all home types combined in September, which is a 7.1% more than the 2,776 sales in September 2018 and 12.5% less than the 3,397 sales in August 2019.
Sales of single-family homes (2,290) in September 2019 increased by 8.8% compared to September 2018, while condo sales (399) increased 2.1% year over year.
Sales of distressed homes (foreclosures and short sales) reached 112 in September and are 10.4% less than the 125 distressed sales in September 2018. Distressed sales made up 3.8% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in September (7,784) represents a decrease of 3.8% when compared to September 2018, and a 1.7% increase compared to last month. There were 5.7% fewer single-family homes and 2.1% less condos, year over year.
Current inventory combined with the current pace of sales created a 2.6-month supply of homes in Orlando for September. There was a 2.9-month supply in September 2018 and a 2.3-month supply in August 2019.
The average interest rate paid by Orlando homebuyers in September was 3.68%, down from 3.72% the month prior.
Homes that closed in September took an average of 51 days to move from listing to pending and an average of 37 days between pending and closing, for an average total of 88 days from listing to closing (up from a total of 86 days the month prior).
Pending sales in September are up 2.2% compared to September of last year and are down 9.3% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in September were up by 6.8% when compared to September of 2018. To date, sales are down 3.1%.
Each individual county’s sales comparisons are as follows:
*Lake: 8.3% above September 2018;
*Orange: 9.2% above September 2018;
*Osceola: 8.5% above September 2018; and
*Seminole: 1.6% below September 2018.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month September be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando median price gains while inventory drops and sales hold steady
Orlando’s housing market in August saw both its largest increase (+9%) in year-over-year median price and its first inventory decline (-2%) in 2019. Sales were up a tiny fraction (+0.1) compared to August 2018.
“Orlando’s ongoing challenge with the lower-price range categories, which have solid demand and insufficient supply, is consequently pushing up home prices,” says Orlando Regional REALTOR® Association Jeffrey M. Fagan, Watson Realty Corp. “In addition, while our local economic indicators — particularly very favorable interest rates — point toward a housing strong market, low supply that leaves first-time homebuyers with few options is restraining sales up the ladder.”
August Market Indicator Comparison
Median Price
The overall median price of Orlando homes (all types combined) sold in August is $250,000, which is 8.7% above the August 2018 median price of $230,000 and up 1.1% compared to the July 2019 median price of $247,250.
The median price for single-family homes that changed hands in August increased 5.9% over August 2018 and is now $270,000. The median price for condos increased 8.8% to $137,000.
The Orlando housing affordability index for August is 134.06%, up from 133.30% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased a fraction to 95.33% from 94.79% last month.
Sales and Inventory
Members of ORRA participated in 3,385 sales of all home types combined in August, which is a nearly equal (0.1% more) than the 3,381 sales in August 2018 and 6.7% less than the 3,628 sales in July 2019.
Sales of single-family homes (2,657) in August 2019 increased by 2.7% compared to August 2018, while condo sales (419) decreased 5.2% year over year.
Sales of distressed homes (foreclosures and short sales) reached 86 in August and are 29.5% less than the 122 distressed sales in August 2018. Distressed sales made up just 2.4% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in August (7,652) represents a decrease of 2.0% when compared to August 2018, and a 4.3% decrease compared to last month. There were 4.0% fewer single-family homes and 5.8% more condos, year over year.
Current inventory combined with the current pace of sales created a 2.3-month supply of homes in Orlando for August. There was a 2.3-month supply in August 2018 and a 2.2-month supply in July 2019.
The average interest rate paid by Orlando homebuyers in August was 3.72%, down from 3.85% the month prior.
Homes that closed in August took an average of 49 days to move from listing to pending and an average of 37 days between pending and closing, for an average total of 86 days from listing to closing (down from a total of 87 days the month prior).
Pending sales in August are up 6.0% compared to August of last year and are down 7.8% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in August were up by 0.2% when compared to August of 2018. To date, sales are down 4.2%.
Each individual county’s sales comparisons are as follows:
*Lake: 1.7% below August 2018;
*Orange: 1.1% below August 2018;
*Osceola: 6.1% above August 2018; and
*Seminole: 0.5% above August 2018.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando home sales rebound in time for the first day of school
Orlando home sales saw a healthy rebound in July, just in time for families to be settled into their new homes for the start of the school year. The number of transactions improved by 7% compared to July of 2018 and by 6% compared to last month.
“The jump in sales shows that homebuyers are eager to take advantage of Orlando’s favorable market conditions such as falling interest rates and stable increases in median price,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “The additional inventory that’s become available over the past months has benefitted sales as well, although those seeking homes in the affordable price ranges are still challenged by scarcity and competition.”
According to the latest monthly report from ORRA, Orlando area homebuyers secured an average interest rate of 3.85% in July. That’s down from 3.93% in June down from 4.59% in July of 2018.
ORRA members were involved in 3,620 property transactions during July. Sales of single-family homes led the pack with an increase of 7%, followed by improvements of 5% for townhomes and 4% for condos.
Speaking of condos, this home type is yet again leading Orlando’s nine-month string of inventory increases. The number of condos available for purchase in July expanded by 16% to 1,115. Single-family homes had a slight 3% more availability than in July 2018, bringing our overall inventory up by 6%.
Despite inventory gains, Orlando is still clearly a seller’s market overall as it has only 2.21 months of supply (six months is considered by economists to indicate a market that is balanced between buyers and sellers). However, the balance shifts when you consider price categories for single-family homes. There is less than a two-month supply of homes priced below $300,000, while the higher price categories ($900,000 and above) favor buyers with more than nine months’ worth of inventory.
ORRA’s report also shows that the overall median price is back on a healthy rising trajectory and increased by 5% in July. That’s a 114 percent improvement since July of 2011, when the Orlando housing market began its recovery.
July Market Indicator Comparison
Single-family Home Update
The year-over-year median price for single-family homes increased by 5% to $267,500 in July, while the month-to-month price decreased 1%. The inventory of this home type improved by 4% over July 2018, and there are currently 6,265 single-family homes available for purchase through the multiple listing service.
Single-family home sales bumped up 7% in July, with 2,849 units sold throughout the Orlando area versus 2,659 a year earlier. Compared to last month, single-family sales are up 6%.
Condo Update
The year-over-year median price for condos increased by 8% to $138,000 in July, and it increased by 3% when compared to last month. Condo inventory improved by 16% over July 2018, and there are currently 1,115 units available for purchase through the multiple listing service.
Condo sales in July (419) are up by 4% over July 2018 and are up by 3% over June 2019.
MSA Numbers 
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in July were up by 6.5% when compared to July of 2018. To date, sales are down 4.9%.
Each individual county’s sales comparisons are as follows:
*Lake: 9.5% above July 2018;
*Orange: 5.7% above July 2018;
*Osceola: 14.5% above July 2018; and
*Seminole: 0.1% above July 2018.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando sales stumble during peak homebuying months
Orlando home sales took a tiny tumble in June, slipping 2% compared to June 2018 during what is traditionally near the peak of our homebuying season.
“We are expecting June’s sales decline to reverse itself in the coming months as families seek to close on their new homes before the start of the school year,” says ORRA President Jeffrey M. Fagan. “In addition, we anticipate an eagerness to take advantage of favorable conditions such as small-but-steady increases in the inventory of homes available for purchase in the Orlando area and falling mortgage rates.”
According to the latest monthly report from ORRA, Orlando area homebuyers secured an average interest rate of 3.93% in June. That’s down from 4.15% in May and a high this year in February of 4.34%.
ORRA members were involved in 3,399 property transactions during June. Sales of townhomes dropped by a whopping 22%, which was enough to drag the overall sales comparison down by 2 percent. Sales of single-family homes actually improved by about half a percent over last year, while condos rose by more than 3 percent.
Speaking of condos, this home type is leading Orlando’s eight-month string of inventory increases. The number of condos available for purchase in June expanded by 24%, to 1,135. Single-family homes had 5% more availability than in June 2018, bringing our overall inventory up by 7 percent.
Despite inventory gains, Orlando is still clearly a seller’s market as it has only 2.37 months of supply (six months is considered by economists to indicate a market that is balanced between buyers and sellers). However, the balance shifts when you consider price categories for single-family homes, with the lower price categories firmly favoring sellers and the higher price categories ($700,000 and above) favoring buyers. Those in the market for a home priced between $2 million and $5 million currently enjoy 26 months of supply. FYI, there is a 15-month supply of home priced above $5 million.
ORRA’s report also shows that the overall median price is securely back its years-long upward track. After a brief derailment into the red in April, the Orlando median price — the figure at which half of the homes sold for more and half sold for less — rose 5 percent in June to $250,000.
June Market Indicator Comparison
Single-family Home Update
Single-family home sales bumped up 0.5% in June, with 2,685 units sold throughout the Orlando area versus 2,673 a year earlier. Compared to last month, single-family sales are down 11 percent.
The median price for single-family homes increased by 3% to $270,000 in June. The inventory of this home type improved by 5% over June 2018, and there are currently 6,289 single-family homes available for purchase through the multiple listing service.
Condo Update
Condo sales are up by 3% (406); condo inventory is up by 24% (1,135), and condo median price is up by 7% ($134,350,500).
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in June were down by 2.7% when compared to June of 2018. To date, sales are down 6.9%.
Each individual county’s sales comparisons are as follows:
*Lake: 8.3% above June 2018;
*Orange: 2.8% below June 2018;
*Osceola: 8.5% below June 2018; and
*Seminole: 5.9% below June 2018.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando sales head up as summer homebuying season kicks in
Encouraged by continued low interest rates and a favorable economy that is drawing droves of new residents to Orlando, area homebuyers pushed sales into positive territory for the month of May. Home sales jumped by nearly 11 percent compared to May 2018, which is the first year-over-year increase in 2019.
The improvement can be attributed to factors such as the slower rate of price increases and mortgage rates that are not only holding steady but even dropping a bit.
According to the latest monthly report from the Orlando Regional REALTOR® Association, members were involved in 3,790 property transactions during May. Sales of single-family homes improved by 12 percent over last year, while condos rose by 6 percent.
Speaking of condos, this home type is leading Orlando’s seven-month string of inventory increases. The number of condos available for purchase in May expanded by 27 percent, to 1,154. Single-family homes had 6% more availability than in May 2018, bringing our overall inventory up by 8 percent.
Despite inventory gains, Orlando is still clearly a seller’s market as it has only 2.14 months of supply (six months is considered by economists to indicate a market that is balanced between buyers and sellers). However, the balance shifts when you consider price categories, with the lower price categories firmly favoring sellers and the higher price categories ($800,000 and above) favoring buyers. Those in the market for a home priced between $2 million and $5 million currently enjoy 28 months of supply.
ORRA’s report also shows that the overall median price is once again on its years-long upward track. After a brief derailment into the red last month, the Orlando median price — the figure at which half of the homes sold for more and half sold for less — rose 4 percent in May to $243,000.
May Market Indicator Comparison
Single-family Home Update
Single-family home sales bumped up 12 percent in May, with 2,993 units sold throughout the Orlando area versus 2,672 a year earlier. Compared to last month, single-family sales are up 18 percent.
The median price for single-family homes increased by 4% to $263,000 in May. The inventory of this home type improved by 6% over May 2018, and there are currently 6,382 single-family homes available for purchase through the multiple listing service.
Condo Update
Condo sales are up by 6% (434); condo inventory is up by 26% (1,154), and condo median price is up by 9% ($136,500).
MSA Numbers 
 
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in May were down by 4.2% when compared to May of 2018. To date, sales are down 8.0%. 
 
Each individual county’s sales comparisons are as follows: 
 
*Lake: 15.3% below May 2018; 
*Orange: 3.0% below May 2018; 
*Osceola: 4.4% below May 2018; and 
*Seminole: 3.0% above May 2018. 
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.Orlando Area Market 10-year History (Orlando 10-Year History) (link to pdf) interest rate, sales, median price, average price, list/sell difference, pending, days on market, inventory, and months of supply for each of the last 10 years.
Orlando's housing market cools in advance of summer
After 93 months of consecutive year-over-year increases in median price, the Orlando housing market saw its first decline in April. The decrease was only 1% but it comes at the start of our traditional summer selling season, which typically sees jumps in both median price and sales.
According to the latest monthly report from the Orlando Regional REALTOR® Association, the median price (the figure at which half of the homes sold for more and half sold for less) was $235,000.
The report also shows 3,315 homes were sold in April compared to 3,371 for a 2% decrease. The decline can be attributed to factors such Orlando's years of meager inventory (especially in the lower price categories) and years of steadily rising prices.
Regardless of a dip in sales, Orlando has just 2.38 months of supply. Since six months of supply is considered by economists to indicate a market that is balanced between buyers and sellers, Orlando is clearly still a seller’s market. However, the balance shifts when you consider price categories, with the lower price categories firmly favoring sellers and the higher price categories ($600,000 and above) favoring buyers.
The good news is that our inventory has been experiencing small-but-consistent increases. For April, the level of available homes increased by 2%. Each month since January has seen a year-over-year rise, with January in the lead with an 8% increase.
Condos are exhibiting the largest rises in availability; there were 20% more condos available in April of this year than in April of last year.
April Housing Market Indicator Comparison
Single-family Home Update
Single-family home sales dropped 4% in April, with 2,535 units sold throughout the Orlando area versus 2,636 a year earlier. April marks the fourth consecutive month of sales declines; January saw the greatest (-14%) and February saw the smallest (-2%).
The median price for single-family homes decreased by 1% to $255,000 in April. The inventory of this home type increased a tiny fraction of less than one%. There are currently 6,193 single-family homes available for purchase through the multiple listing service.
Condo Update
Condos are leading the field in Orlando! Condo sales are up by 19% (433); condo inventory is up by 20% (1,157), and condo median price is up by 6% ($138,000).
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.Orlando Area Market 10-year History (Orlando 10-Year History) (link to pdf) interest rate, sales, median price, average price, list/sell difference, pending, days on market, inventory, and months of supply for each of the last 10 years.
Orlando's median home price and inventory maintain upward pattern in March
Orlando housing market enjoyed a 2% increase in median price for the month of March, while year-over-year inventory rose 5% and experienced its fifth consecutive month of increase. Sales dropped 11% compared to last year.
However, Orlando home sales of all types leapt 30% compared to last month and condo sales soared a whopping 42 percent over February.
“Sales traditionally increase from month to month as the spring/summer homebuying season progresses. This year it appears that a powerful combination of more inventory and steady interest rates is driving a stronger-than-usual surge in buyer confidence,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “REALTORS® do not anticipate any interest rate increases from the Federal Reserve in 2019, which is helping mortgage rates stay at attractive levels and motivate potential buyers.”
Median Price
The overall median price of Orlando homes (all types combined) sold in March is $235,000, which is 2.2% above the March 2018 median price of $230,000 and steady compared to the February 2019 median price of $235,000 as well.
Year-over-year increases in median price have been recorded for the past 93 consecutive months; as of March 2019, the overall median price is 103.5% higher than it was back in July 2011.
The median price for single-family homes that changed hands in March increased 2.0% over March 2018 and is now $255,000. The median price for condos increased 3.7% to $127,500.
The Orlando housing affordability index for March is 133.81%, up from 131.64% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 95.15% from 93.61% last month.
Sales and Inventory
Members of ORRA participated in 3,127 sales of all home types combined in March, which is 11.4% less than the 3,530 sales in March 2018 and 29.5% more than the 2,414 sales in February 2019.
Sales of single-family homes (2,450) in March 2019 decreased by 10.7% compared to March 2018, while condo sales (395) decreased 6.4% year over year.
Sales of distressed homes (foreclosures and short sales) reached 110 in March and are 6.0% less than the 117 distressed sales in March 2018. Distressed sales made up just 3.5% of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in March (8,117) represents an increase of 5.3% when compared to March 2018, and a 0.9% decrease compared to last month. There were 4.4% more single-family homes and 22.7% more condos, year over year.
Current inventory combined with the current pace of sales created a 2.6-month supply of homes in Orlando for March. There was a 2.2-month supply in March 2018 and a 3.4-month supply in February 2019.
The average interest rate paid by Orlando homebuyers in March was 4.21%, down from 4.34% the month prior.
Homes that closed in March took an average of 62 days to move from listing to pending and an average of 37 days between pending and closing, for an average total of 99 days from listing to closing (up from a total of 97 days the month prior).
Pending sales in March are down 8.9% compared to March of last year and are up 11.2% compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in March were down by 12.9% when compared to March of 2018. To date, sales are down 12.3%.
Each individual county’s sales comparisons are as follows:
*Lake: 14.2% below March 2018;
*Orange: 14.7% below March 2018;
*Osceola: 12.2% below March 2018; and
*Seminole: 7.3% below March 2018.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.increases in median price have been recorded for the past 93 consecutive months; as of March 2019, the overall median price is 103.5% higher than it was back in July 2011.
Orlando's median home price and inventory rise while sales decline in February
The Orlando housing market saw its median price continue a years-long upward trek with an economically healthy 3 percent year-over-year increase in February. Sales dipped a fraction and inventory increased for the fourth consecutive month, just in time for the start of Orlando’s homebuying season.
“March and April typically herald the beginning of our most active period, when a great many prospective buyers begin getting serious about being settled into a home before the new school year,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “Despite a decrease in year-over-year sales, greater inventory combined with moderated prices and interest rates that are at historic lows is expected produce our traditional uptick in springtime homebuying.”
Median Price
The overall median price of Orlando homes (all types combined) sold in February is $235,000, which is 2.6 percent above the February 2018 median price of $229,000 and 3.5 percent above the January 2019 median price of $227,000.
Year-over-year increases in median price have been recorded for the past 92 consecutive months; as of February 2019, the overall median price is 103.5 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in February remained stable over February 2018 and is now $249,900. The median price for condos increased 13.3 percent to $137,000.
The Orlando housing affordability index for February is 131.64 percent, down from 136.05 percent last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased to 93.61 from 96.74 percent last month.
Sales and Inventory
Members of ORRA participated in 2,402 sales of all home types combined in February, which is 5.4 percent less than the 2,538 sales in February 2018 and 23.2 percent more than the 1,950 sales in January 2019.
Sales of single-family homes (1,865) in February 2019 decreased by 2.9 percent compared to February 2018, while condo sales (261) decreased 12.9 percent year over year.
Sales of distressed homes (foreclosures and short sales) reached 104 in February and are 26.2 percent less than the 141 distressed sales in February 2018. Distressed sales made up just 4.3 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in February (8,194) represents an increase of 6.3 percent when compared to February 2018, and a 0.6 percent decrease compared to last month. There were 4.6 percent more single-family homes and 29.0 percent more condos, year over year.
Current inventory combined with the current pace of sales created a 3.4-month supply of homes in Orlando for February. There was a 4.2-month supply in January 2018 and a 3.0-month supply in February 2018.
The average interest rate paid by Orlando homebuyers in February was 4.34 percent, up from 4.32 percent the month prior.
Homes that closed in February took an average of 62 days to move from listing to pending and an average of 35 days between pending and closing, for an average total of 97 days from listing to closing (down from a total of 98 days the month prior).
Pending sales in February are down 15.1 percent compared to February of last year and are up 17.0 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in February were down by 10.0 percent when compared to February of 2018.
Each individual county’s sales comparisons are as follows:
*Lake: 16.0 percent below February 2018;
*Orange: 6.2 percent below February 2018;
*Osceola: 21.0 percent below February 2018; and
*Seminole: 2.8 percent below February 2018.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.increases in median price have been recorded for the past 93 consecutive months; as of March 2019, the overall median price is 103.5% higher than it was back in July 2011.
Orlando inventory jumps 8 percent as sales slip 14 percent and median price hangs tight
The Orlando housing market in January saw its third consecutive month of year-over-year increases in the number of homes available for purchase, along with a slide in sales and a holding steady of the median price.
Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp., explains that the expanded inventory is advantageous to prospective buyers, particularly those interested in purchasing condos.
“Our condo inventory rose by 26 percent last month, and this home type is an excellent option for those seeking entry into homeownership as a relief from Orlando’s soaring rental rates,” says Fagan. “Condos also tend to be cheaper than single-family homes; for example, the median price of a condo sold in January was only $125,000 compared to $247,950 for a single-family home.”
Median Price
The overall median price of Orlando homes (all types combined) sold in January is $226,500, which is 0.7 percent above the January 2018 median price of $225,000 and 2.4 percent below the December 2018 median price of $225,000.
Year-over-year increases in median price have been recorded for the past 91 consecutive months; as of January 2019, the overall median price is 96.1 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in January increased 3.3 percent over January 2018 and is now $247,950. The median price for condos increased 8.7 percent to $125,000.
The Orlando housing affordability index for January is 136.65 percent, up from 132.46 percent last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 97.17 from 94.19 percent last month.
Sales and Inventory
Members of ORRA participated in 1,938 sales of all home types combined in January, which is 13.8 percent less than the 2,249 sales in January 2018 and 20.0 percent less than the 2,422 sales in December 2018.
Sales of single-family homes (1,486) in January 2019 decreased by 15.0 percent compared to January 2018, while condo sales (289) increased 7.0 percent year over year.
Sales of distressed homes (foreclosures and short sales) reached 92 in January and are 34.8 percent less than the 141 distressed sales in January 2018. Distressed sales made up just 4.8 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in January (8,243) represents an increase of 8.4 percent when compared to January 2018, and a 4.7 percent increase compared to last month. There were 6.8 percent more single-family homes and 26.2 percent more condos, year over year.
Current inventory combined with the current pace of sales created a 4.3-month supply of homes in Orlando for January. There was a 3.3-month supply in December 2018 and a 3.4-month supply in January 2018.
The average interest rate paid by Orlando homebuyers in January was 4.32 percent, down from 4.38 percent the month prior.
Homes that closed in January took an average of 60 days to move from listing to pending and an average of 38 days between pending and closing, for an average total of 98 days from listing to closing (up from a total of 92 days the month prior).
Pending sales in January are down 16.5 percent compared to January of last year and are up 24.8 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in January were down by 14.6 percent when compared to January of 2018.
Each individual county’s sales comparisons are as follows:
*Lake: 5.9 percent below January 2018;
*Orange: 17.9 percent below January 2018;
*Osceola: 19.2 percent below January 2018; and
*Seminole: 8.2 percent below January 2018.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando housing market closes out 2018 with an increase in annual median price, decrease in annual sales
Orlando’s annual median home price for 2018 ($232,500) is 5.7 percent higher than the 2017 annual median price ($220,000) thanks to another 12 consecutive months of year-over-year price increases, according to the Orlando Regional REALTOR® Association’s year-end report.
Orlando home sales completed during 2018 racked up a final tally of 36,048, which is 3.2 percent below the cumulative sales total of 37,237 for 2017. By comparison, annual sales in 2017 were 3.9 percent greater than in 2016.
ORRA President Jeffrey M. Fagan, Watson Realty Corp., sees Orlando’s 2019 market as a bright spot for the aspiring homebuyers who have struggled with competition, rocketing prices, and tanking inventory for the past several years. “As evidenced by slipping sales in the last months of 2018, we expect Orlando’s year-over-year sales to further decline in 2018. Such a slowdown will help the market to finally move toward a better balance between buyers and sellers.”
“We also expect the market’s median price to either continue rising in very small increments or to even experience slight declines,” continues Fagan. “Along with an anticipated increase in inventory, this is more good news for prospective buyers.”
December 2018 Market Recap
Median Price
The overall median price of Orlando homes (all types combined) sold in December is $232,750, which is 1.2 percent above the December 2017 median price of $230,000 and 0.1 percent below the November 2018 median price of $233,000.
Year-over-year increases in median price have been recorded for the past 90 consecutive months; as of December 2018, the overall median price is 101.5 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in December increased 3.7 percent over December 2017 and is now $254,000. The median price for condos increased 10.5 percent to $132,000.
The Orlando housing affordability index for December is 132.03 percent, up from 123.01 percent last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 93.89 from 87.48 percent last month.
Sales and Inventory
Members of ORRA participated in 2,412 sales of all home types combined in December, which is 20.8 percent less than the 3,045 sales in December 2017 and 6.7 percent less than the 2,585 sales in November 2018.
Sales of single-family homes (1,872) in December 2018 decreased by 21.9 percent compared to December 2017, while condo sales (302) decreased 11.4 percent year over year.
Sales of distressed homes (foreclosures and short sales) reached 92 in December and are 39.5 percent less than the 152 distressed sales in December 2017. Distressed sales made up just 3.8 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in December (7,872) represents an increase of 4.9 percent when compared to December 2017, and a 6.6 percent decrease compared to last month. There were 4.5 percent more single-family homes and 17.1 percent more condos, year over year.
Current inventory combined with the current pace of sales created a 3.3-month supply of homes in Orlando for December. There was a 3.3-month supply in November 2018 and a 2.5-month supply in December 2017.
The average interest rate paid by Orlando homebuyers in December was 4.38 percent, down from 4.97 percent the month prior.
Homes that closed in December took an average of 56 days to move from listing to pending and took an average of 92 days from listing to closing.
Pending sales in December are down 15.3 percent compared to December of last year and are down 10.6 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in December were down by 22.5 percent when compared to December of 2017.
Each individual county’s sales comparisons are as follows:
*Lake: 21.7 percent below December 2017;
*Orange: 22.7 percent below December 2017;
*Osceola: 23.8 percent below December 2017; and
*Seminole: 21.3 percent below December 2017.
2018 Annual Market Recap
(cumulative 2018 totals compared to cumulative 2017 totals)
Median Price
• The 2018 annual median price of $232,500 is an increase of 5.7 percent when compared to 2017’s annual median price of $220,000.
• The annual median price of single-family homes increased 6.1 percent to $252,500 in 2018, while the median price of condos increased 13.5 percent to $126,000.
Sales
• Sales in 2018 were down by 3.2 percent over 2017. A total of 36,048 homes were sold in 2018 compared to 37,237 the previous year.
• Sales of single-family homes decreased 4.3 percent over 2017, while condo sales were unchanged.
• By year’s end in 2018, 42,437 homes were sold in the Orlando MSA whereas 44,376 homes had been sold by year’s end in 2017, for a 4.4 percent decrease. Each individual county’s year-end sales comparisons are as follows:
*Lake: 6.1 percent below 2017;
*Orange: 5.4 percent below 2017;
*Osceola: 1.6 percent below 2017;
*Seminole: 2.5 percent below 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Inventory inches upward while median price strides ahead
The inventory of homes available for purchase in the Orlando area has experienced its first year-over-year increase since July of 2015, reports the Orlando Regional REALTOR® Association. The overall inventory in November 2018 is 1.7 percent higher than in November 2017.
“This slight rise in inventory can be attributed to a combination of both slowing sales and a bump in new listings, which increased by 4.5 percent compared to this same time last year,” explains ORRA President Lou Nimkoff, Brio Real Estate Services LLC. “Factor in expected increases in interest rates that traditionally dampen sales, and we anticipate prospective homebuyers enjoying bolstered inventory levels throughout the upcoming year.”
Median Price
The overall median price of Orlando homes (all types combined) sold in November is $233,100, which is 3.6 percent above the November 2017 median price of $224,995 and 1.8 percent above the October 2018 median price of $229,000.
Year-over-year increases in median price have been recorded for the past 89 consecutive months; as of November 2018, the overall median price is 101.8 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in November increased 4.2 percent over November 2017 and is now $251,000. The median price for condos increased 12.3 percent to $134,655.
The Orlando housing affordability index for November is 122.96 percent, down from 126.77 percent last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased to 87.44 from 90.15 percent last month.
Sales and Inventory
Members of ORRA participated in 2,575 sales of all home types combined in November, which is 6.9 percent less than the 2,767 sales in November 2017 and 11.9 percent less than the 2,924 sales in October 2018.
Sales of single-family homes (1,978) in November 2018 decreased by 8.9 percent compared to November 2017, while condo sales (330) increased 1.5 percent year over year.
Sales of distressed homes (foreclosures and short sales) reached 129 in November and are 23.2 percent less than the 168 distressed sales in November 2017. Distressed sales made up just 5.0 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in November (8,432) represents an increase of 1.7 percent when compared to November 2017, and a 1.9 percent increase compared to last month. There were 2.0 percent more single-family homes and 11/5 percent more condos, year over year.
Current inventory combined with the current pace of sales created a 3.3-month supply of homes in Orlando for November. There was a 2.8-month supply in October 2018 and a 3.0-month supply in November 2017.
The average interest rate paid by Orlando homebuyers in November was 4.97 percent, up from 4.85 percent the month prior.
Homes that closed in November took an average of 53 days to move from listing to pending and took an average of 89 days from listing to closing.
Pending sales in November are down 25.6 percent compared to November of last year and are down 9.7 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in November were down by 9.6 percent when compared to November of 2017. Year to date, MSA sales are down by 2.7 percent.
Each individual county’s sales comparisons are as follows:
*Lake: 13.4 percent below November 2017;
*Orange: 12.4 percent below November 2017;
*Osceola: 7.8 percent below November 2017; and
*Seminole: 0.4 percent above November 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Inventory plunge slows as median price continues rising and sale tip downward
The drain of homes available for purchase in Orlando decreased to its slowest pace this year, with October showing just 2.3 percent fewer homes on the market than the same month in 2017. (May has shown the greatest discrepancy so far for 2018, with 17 percent less inventory than in May 2017.)
Meanwhile, Orlando’s median home price continued on its upward march while sales dipped a fraction.
According to ORRA President Lou Nimkoff, Brio Real Estate Services LLC, these are all trends that can be expected into 2019 along with rising interest rates. “Orlando’s housing market is likely to experience increases in median price and decreases in sales during the months ahead, albeit in small increments. The particular bright side for buyers is that any increase we see in inventory happily means more options for finding the right home.”
Median Price
The overall median price of Orlando homes (all types combined) sold in October is $228,750, which is 4.5 percent above the October 2017 median price of $219,000 and 1.8 percent below the September 2018 median price of $233,000.
Year-over-year increases in median price have been recorded for the past 88 consecutive months; as of October 2018, the overall median price is 98.1 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in October increased 4.6 percent over October 2017 and is now $249,900. The median price for condos increased 15.2 percent to $127,000.
The Orlando housing affordability index for October is 126.91 percent, down from 127.13 percent last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased to 90.25, from 90.41 percent last month.
Sales and Inventory
Members of ORRA participated in 2,910 sales of all home types combined in October, which is 0.4 percent less than the 2,921 sales in October 2017 and 4.8 percent more than the 2,776 sales in September 2018.
Sales of single-family homes (2,219) in October 2018 decreased by 1.3 percent compared to October 2017, while condo sales (399) increased 9.0 percent year over year.
Sales of distressed homes (foreclosures and short sales) reached 124 in October and are 21.0 percent less than the 157 distressed sales in October 2017. Distressed sales made up just 4.3 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in October (8,272) represents a decrease of 2.3 percent when compared to October 2017, and a 2.2 percent increase compared to last month. There were 2.3 percent fewer single-family homes and 6.9 percent more condos, year over year.
Current inventory combined with the current pace of sales created a 2.84-month supply of homes in Orlando for October. There was a 2.9-month supply in September 2018 and a 2.9-month supply in October 2017.
The average interest rate paid by Orlando homebuyers in October was 4.85, up from 4.66 percent the month prior.
Homes that closed in October took an average of 52 days to move from listing to pending and took an average of 88 days from listing to closing.
Pending sales in October are down 19.7 percent compared to October of last year and are down 5.0 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in October were down by 1.4 percent when compared to October of 2017. Year to date, MSA sales are down by 2.2 percent.
Each individual county’s sales comparisons are as follows:
*Lake: 9.9 percent below October 2017;
*Orange: 2.7 percent below October 2017;
*Osceola: 4.4 percent above October 2017; and
*Seminole: 4.6 percent above October 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando home prices, sales rise as inventory continues to slip in September
One year after Hurricane Irma threw a wrench into the Orlando housing market, data from the Orlando Regional REALTOR® Association shows positive September-to-September comparisons for both sales and median price. Inventory, however, stayed on its year-over-year downward slide.
“The good news,” points out ORRA President Lou Nimkoff, Brio Real Estate Services LLC, “is that in September the actual number of homes available for purchase reached its highest point this year. The month-to-month increase in inventory, combined with the traditional autumn lull in sales, is an opportunity for those buyers who struggled with competition during the summer. In addition, fall home shoppers can also enjoy a bit more attention from REALTORS®, lenders, and other service providers who typically do not have quite as many clients to attend.”
Median Price
The overall median price of Orlando homes (all types combined) sold in September is $233,000, which is 3.6 percent above the September 2017 median price of $225,000 and 1.3 percent above the August 2018 median price of $230,000.
Year-over-year increases in median price have been recorded for the past 87 consecutive months; as of September 2018, the overall median price is 101.7 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in September increased 3.8 percent over September 2017 and is now $254,250. The median price for condos increased 6.4 percent to $125,500.
The Orlando housing affordability index for September is 127.13 percent, down from 130.14 last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased to 90.41 percent, from 92.55 percent last month.
Sales and Inventory
Members of ORRA participated in 2,768 sales of all home types combined in September, which is 8.5 percent more than the 2,552 sales in September 2017 but 18.1 percent less than the 3,381 sales in August 2018.
Sales of single-family homes (2,096) in September 2018 increased by 7.6 percent compared to September 2017, while condo sales (390) increased 23.4 percent year over year.
Sales of distressed homes (foreclosures and short sales) reached 124 in September and are 3.1 percent less than the 128 distressed sales in September 2017. Distressed sales made up just 4.5 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in September (8,092) represents a decrease of 6.4 percent when compared to September 2017, and a 3.6 percent increase compared to last month. There were 5.6 percent fewer single-family homes and 2.6 more condos, year over year.
Current inventory combined with the current pace of sales created a 2.9-month supply of homes in Orlando for September. There was a 2.3-month supply in August 2018 and a 3.4-month supply in September 2017.
The average interest rate paid by Orlando homebuyers in September was 4.66, up from 4.57 percent the month prior.
Homes that closed in September took an average of 48 days to move from listing to pending and took an average of 84 days from listing to closing.
Pending sales in September are down 14.2 percent compared to September of last year and are down 6.0 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in September were up by 4.1 percent when compared to September of 2017. Year to date, MSA sales are down by 2.3 percent.
Each individual county’s sales comparisons are as follows:
*Lake: 7.3 percent above September 2017;
*Orange: 3.3 percent below September 2017;
*Osceola: 15.1 percent above September 2017; and
*Seminole: 11.8 below above September 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando median home price continues to gain amid sales slowdown
The year-over-year median price for Orlando homes sold during the month of August continued on its years-long upward trajectory, albeit at a slower pace as dwindling inventory takes its toll on sales.
“Like across much of the country, sales are sliding in Orlando as would-be buyers are either priced out of the market or are deciding to postpone their search until more homes come on the market,” explains ORRA President Lou Nimkoff, Brio Real Estate Services LLC. “Fortunately for us, our housing market is bolstered by a healthy economy, prices that compare favorably to other major cities, and a quality of life that attracts an influx of new residents by the thousands each year. In addition, our market benefits from international homebuyers who look to Orlando for investment and vacation properties.”
The overall median price of Orlando homes (all types combined) sold in August is $231,000, which is 2.7 percent above the August 2017 median price of $225,000 and 1.7 percent below the July 2018 median price of $235,000.
Year-over-year increases in median price have been recorded for the past 86 consecutive months; as of August 2018, the overall median price is 100.0 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in August increased 4.9 percent over August 2017 and is now $255,000. The median price for condos increased 12.0 percent to $125,975.
The Orlando housing affordability index for August is 129.58 percent, up from 126.95 last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 92.15 percent, from 90.28 percent last month.
Sales and Inventory
Members of ORRA participated in 3,374 sales of all home types combined in August, which is 5.8 percent less than the 3,580 sales in August 2017 and 0.6 percent less than the 3,394 sales in July 2018.
Sales of single-family homes (2,583) in August 2018 decreased by 6.7 percent compared to August 2017, while condo sales (440) increased 3.3 percent year over year.
Sales of distressed homes (foreclosures and short sales) reached 121 in August and are 40.7 percent less than the 204 distressed sales in August 2017. Distressed sales made up just 3.6 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in August (7,808) represents a decrease of 11.6 percent when compared to August 2017, and a 3.8 percent increase compared to last month. There were 10.2 percent fewer single-family homes and 8.5 percent fewer condos.
Current inventory combined with the current pace of sales created a 2.3-month supply of homes in Orlando for August. There was a 2.2-month supply in July 2018 and a 2.5-month supply in August 2017.
The average interest rate paid by Orlando homebuyers in August was 4.57, down from 4.59 percent the month prior.
Homes that closed in August took an average of 49 days to move from listing to pending, and took an average of 85 days from listing to closing.
Pending sales in August are down 21.4 percent compared to August of last year and are down 6.1 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in August were down by 8.4 percent when compared to August of 2017. Year to date, MSA sales are down by 2.8 percent.
Each individual county’s sales comparisons are as follows:
*Lake: 3.0 percent below August 2017;
*Orange: 9.8 percent below August 2017;
*Osceola: 12.8 percent below August 2017; and
*Seminole: 5.7 below above August 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Decline in Orlando's sales, inventory help stabilize home-price growth
Prospective homebuyers will be cheered to learn that the rocketing rise in prices Orlando has seen over the past years stabilized this summer in the healthy single-digits. For the last three months, the year-over-year median price has increased between 6 and 7 percent.
The deceleration will help maintain a healthy housing market and protect Orlando’s affordability, especially as it compares to other cities around the country where prices are rising beyond the reach of buyers, explains ORRA President Lou Nimkoff, Brio Real Estate Services LLC. “In addition, while prices have been rising steadily over the past seven years they have not yet reached pre-recession peak prices. Orlando homes purchased now still have room for normal appreciation, which makes a house a good investment.”
The overall median price of Orlando homes (all types combined) sold July is $235,000, which is 6.8 percent above the July 2017 median price of $220,000 and 1.3 percent below the June 2018 median price of $238,000.
Year-over-year increases in median price have been recorded for the past 85 consecutive months; as of July 2018, the overall median price is 103.5 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in July increased 6.3 percent over July 2017 and is now $255,000. The median price for condos increased 10.4 percent to $127,000.
The Orlando housing affordability index for July is 126.95 percent, up from 124.88 last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 90.28 percent, from 88.80 percent last month.
Sales and Inventory
Members of ORRA participated in 3,383 sales of all home types combined in July, which is 0.1 percent more than the 3,381 sales in July 2017 and 2.3 percent less than the 3,461 sales in June 2018.
Sales of single-family homes (2,653) in July 2018 decreased by 0.2 percent compared to July 2017, while condo sales (398) increased 2.6 percent year over year.
Sales of distressed homes (foreclosures and short sales) reached 121 in July and are 42.1 percent less than the 209 distressed sales in July 2017. Distressed sales made up just 3.6 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in July (7,525) represents a decrease of 16.9 percent when compared to July 2017, and a 0.4 percent decrease compared to last month. There were 15.3 percent fewer single-family homes and 14.8 percent fewer condos.
Current inventory combined with the current pace of sales created a 2.2-month supply of homes in Orlando for July. There was a 2.2-month supply in June 2018 and a 2.7-month supply in July 2017.
The average interest rate paid by Orlando homebuyers in July was 4.59, down from 4.61 percent the month prior.
Pending sales in July are down 18.5 percent compared to July of last year and are down 9.9 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in July were down by 3.4 percent when compared to July of 2017. Year to date, MSA sales are down by 1.9 percent.
Each individual county’s sales comparisons are as follows:
*Lake: 11.5 percent below July 2017;
*Orange: 3.0 percent below July 2017;
*Osceola: 3.7 percent below July 2017; and
*Seminole: 3.2 percent above July 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando's meager inventory continues to stifle sales, drive up prices
The inventory of homes available for purchase in the Orlando area displayed its greatest percentage of decrease yet in 2018, contributing to a second consecutive month of slower sales. However, buyer demand is continuing to boost the area’s median price.
The overall median price of Orlando homes (all types combined) sold June is $239,180, which is 6.8 percent above the June 2017 median price of $223,950 and 2.7 percent above the May 2018 median price of $233,000.
Year-over-year increases in median price have been recorded for the past 84 consecutive months; as of June 2018, the overall median price is 107.8 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in June increased 6.8 percent over June 2017 and is now $260,000. The median price for condos increased 13.6 percent to $125,000.
The Orlando housing affordability index for June is 124.26 percent, down from 124.26 last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased to 88.37 percent, from 90.31 percent last month.
Sales and Inventory
Members of ORRA participated in 3,451 sales of all home types combined in June, which is 11.1 percent less than the 3,882 sales in June 2017 but 0.7 percent more than the 3,426 sales in May 2018.
“Summertime is when we traditionally see sales expand as families seek to secure new homes before the start of the new school year,” explains ORRA President Lou Nimkoff, Brio Real Estate Services. “Incredibly low supply continues to be the primary impediment to sales in Orlando, but the combination of higher prices and mortgage rates contribute by pinching the budgets of some prospective buyers -- particularly first-timers – and thwarting their efforts to buy.”
Sales of single-family homes (2,672) in June 2018 decreased by 11.8 percent compared to June 2017, while condo sales (408) decreased 11.1 percent year over year.
Sales of distressed homes (foreclosures and short sales) reached 132 in June and are 50.2 percent less than the 266 distressed sales in June 2017. Distressed sales made up just 3.8 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in June (7,558) represents a decrease of 17.3 percent when compared to June 2017, and a 1.0 percent increase compared to last month. There were 16.1 percent fewer single-family homes and 22.6 percent fewer condos.
Current inventory combined with the current pace of sales created a 2.2-month supply of homes in Orlando for June. There was a 2.35-month supply in June 2017 and a 2.2-month supply last month.
The average interest rate paid by Orlando homebuyers in June was 4.61, down from 4.64 percent the month prior.
Pending sales in June are down 11.6 percent compared to June of last year and are down 9.9 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in June were down by 11.4 percent when compared to June of 2017. Year to date, MSA sales are down by 1.8 percent.
Each individual county’s sales comparisons are as follows:
*Lake: 12.8 percent below June 2017;
*Orange: 12.1 percent below June 2017;
*Osceola: 9.9 percent below June 2017; and
*Seminole: 9.6 percent below June 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando home prices rise in May as sales and inventory tumble
The inventory of homes available for purchase in the Orlando area dropped to its lowest point this year in May, dampening sales at the time when buyers traditionally ramp up their efforts to secure and move into a new home in time for the start of school. That demand is continuing to squeeze prices upward.
The overall median price of Orlando homes (all types combined) sold May is $234,000, which is 7.3% above the May 2017 median price of $218,000 and 1.7 percent below the April 2018 median price of $238,000.
Year-over-year increases in median price have been recorded for the past 83 consecutive months; as of April 2018, the overall median price is 102.60 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in May increased 8.5 percent over May 2017 and is now $255,000. The median price for condos increased 6.1 percent to $125,250.
The Orlando housing affordability index for May is 126.45 percent, up a bit from 126.13 last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 89.92 percent, from 89.69 percent last month.
Sales and Inventory
Members of ORRA participated in 3,407 sales of all home types combined in May, which is 11.4 percent less than the 3,845 sales in May 2017 but 1.1 percent more than the 3,371 sales in April 2018.
“We are experiencing an unusual market filled with buyers who want to buy but sellers who don’t want to sell out of concern that there is no place for them to go,” expains ORRA President Lou Nimkoff, Brio Real Estate Services. “Many would-be sellers aren’t moving because they worry about finding another home to buy in such a tight-inventory environment. In addition, the median length to stay in a home by recent sellers has now swelled to 10 years (historically, it was about six to eight years), which is further reducing inventory turnover.”
Homes of all types saw sales declines in May. Sales of single-family homes (2,657) in May 2018 decreased by 12.4 percent compared to May 2017, while condo sales (410) decreased 3.1 percent year over year but actually increased 12.6 percent compared to last month.
Sales of distressed homes (foreclosures and short sales) reached 120 in May and are 70 percent less than the 282 distressed sales in May 2017. Distressed sales made up just 3.5 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in May (7,486) represents a decrease of 14.7 percent when compared to May 2017, and a 3.3 percent decrease compared to last month. There were 10.5 percent fewer single-family homes and 25.4 percent fewer condos.
Current inventory combined with the current pace of sales created a 2.2-month supply of homes in Orlando for May. There was a 2.8-month supply in May 2017 and a 2.3-month supply last month.
The average interest rate paid by Orlando homebuyers in May was 4.64, up from 4.51 percent the month prior.
Pending sales in May are down 11.4 percent compared to May of last year and are down 7.4 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in May were down by 13.7 percent when compared to May of 2017. Year to date, MSA sales are down by 2.2 percent.
Each individual county’s sales comparisons are as follows:
*Lake: 10.6 percent below May 2017;
*Orange: 12.7 percent below May 2017;
*Osceola: 15.1 percent below May 2017; and
*Seminole: 17.1 percent below May 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando home sales and median price both rise in April
Orlando’s median home price jumped more than 10 percent in April when compared to April of last year while sales likewise saw an increase of more than 8 percent, reports the Orlando Regional REALTOR® Association. Inventory declined by nearly 11 percent compared to this time last year.
The overall median price of Orlando homes (all types combined) sold in April is $237,000, which is 10.3 percent above the April 2017 median price of $215,000 and 3.0 percent above the March 2018 median price of $230,000.
Year-over-year increases in median price have been recorded for the past 82 consecutive months; as of April 2018, the overall median price is 105.19 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in April increased 9.4 percent over April 2017 and is now $257,000. The median price for condos increased 20.4 percent to $130,000.
The Orlando housing affordability index for April is 126.66 percent, down from 133.76 last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased to 90.07 percent, from 95.12 percent last month.
Sales and Inventory
Members of ORRA participated in 3,347 sales of all home types combined in April, which is 8.3 percent more than the 3,092 sales in April 2017 and 5.2 percent less than the 3,530 sales in March 2018.
“While April produced a strong showing in sales as we head into peak homebuying season, the Orlando market continues to struggle with an imbalance between what potential buyers can afford and what is listed for sale,” expains ORRA President Lou Nimkoff, Brio Real Estate Services. “Our lack of entry-level supply is putting affordability pressure on buyers – especially those at the lower end of the market, where demand is the strongest. To illustrate, there is only a 1.3-month of supply of single-family homes listed at less than $201,000, which is our current maximum price for first-time buyer affordability.”
Sales of single-family homes (2,620) in April 2018 increased by 9.1 percent compared to April 2017, while condo sales (359) decreased 6.3 percent.
Sales of distressed homes (foreclosures and short sales) reached 133 in April and are 46.4 percent less than the 248 distressed sales in April 2017. Distressed sales made up just 4.0 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in April (7,740) represents a decrease of 10.8 percent when compared to April 2017, and a 0.4 percent increase compared to last month. There were 6.6 percent fewer single-family homes and 25.2 percent fewer condos.
Current inventory combined with the current pace of sales created a 2.3-month supply of homes in Orlando for April. There was a 2.8-month supply in April 2017 and a 2.2-month supply last month.
The average interest rate paid by Orlando homebuyers in April was 4.51, up from 4.29 percent the month prior.
Pending sales in April are down 3.4 percent compared to April of last year and are up 9.0 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in April were up by 5.7 percent when compared to April of 2017. Year to date, MSA sales up by 1.4 percent.
Each individual county’s sales comparisons are as follows:
*Lake: 1.8 percent below April 2017;
*Orange: 8.2 percent above April 2017;
*Osceola: 8.9 percent above April 2017; and
*Seminole: 3.6 percent above April 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando home sales hold steady, median price rises in March
Orlando’s median home price rose 6 percent in March when compared to March of last year while sales held steady with a slight 1 percent increase, reports the Orlando Regional REALTOR® Association. Inventory declined by nearly 10 percent compared to this time last year.
The overall median price of Orlando homes (all types combined) sold in March is $230,000, which is 5.5 percent above the March 2017 median price of $218,000 and 0.4 percent above the February 2018 median price of $229,000.
Year-over-year increases in median price have been recorded for the past 81 consecutive months; as of March 2018, the overall median price is 99.1 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in March increased 6.3 percent over March 2017 and is now $249,900. The median price for condos increased 19.4 percent to $122,900.
The Orlando housing affordability index for March is 133.76 percent, up from 132.60 last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index increased to 95.12 percent, from 94.29 percent last month.
Sales and Inventory
Members of ORRA participated in 3,508 sales of all home types combined in March, which is 0.9 percent more than the 3,477 sales in March 2017 and 38.2 percent higher than the 2,538 sales in February 2018.
“Orlando’s housing market continues to be tugged by opposing factors such as low inventory and high demand,” says ORRA President Lou Nimkoff, Brio Real Estate Services. “The result is a wash for sales: Transactions for the first quarter of 2018 closely mirror Q1 2017, with this year up by a slight 1.5 percent. However, the quarter’s median price is up by a healthy 9 percent and the dollar volume is up by 11.4 percent over Q1 2017.”
Sales of single-family homes (2,727) in March 2018 decreased by 0.4 percent compared to March 2017, while condo sales (421) increased 3.2 percent.
Sales of distressed homes (foreclosures and short sales) reached only 115 in March and are 57.7 percent less than the 272 distressed sales in March 2017. Distressed sales made up just 3.3 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in March (7,710) represents a decrease of 9.7 percent when compared to March 2017, and a 0.1 percent increase compared to last month. There were 6.1 percent fewer single-family homes and 24.3 percent fewer condos.
Current inventory combined with the current pace of sales created a 2.2-month supply of homes in Orlando for March. There was a 2.46-month supply in March 2017 and a 3.04-month supply last month.
The average interest rate paid by Orlando homebuyers in March was 4.29, down from 4.39 percent the month prior.
Pending sales in March are down 6.6 percent compared to March of last year and are up 3.6 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in
Each individual county’s sales comparisons are as follows:
*Lake: 4.4 percent below March 2017;
*Orange: 2.9 percent below March 2017;
*Osceola: 5.9 percent above March 2017; and
*Seminole: 3.7 percent below March 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando median home continues upward trend with 10 percent increase in February
Orlando’s median home price rose 10 percent in February when compared to February of last year while sales held steady with a 1 percent increase, reports the Orlando Regional REALTOR® Association. Inventory declined by nearly 9 percent compared to this time last year.
The overall median price of Orlando homes (all types combined) sold in February is $228,000, which is 10.4 percent above the February 2017 median price of $206,500 and 1.3 percent above the January 2018 median price of $225,000.
Year-over-year increases in median price have been recorded for the past 80 consecutive months; as of February 2018, the overall median price is 97.4 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in February increased 11.3 percent over February 2017 and is now $249,250. The median price for condos increased 22.2 percent to $120,950.
The Orlando housing affordability index for February is 133.18 percent, down from 140.10 last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)
The first-time homebuyers affordability index decreased to 94.71 percent, from 99.62 percent last month.
Sales and Inventory
Members of ORRA participated in 2,497 sales of all home types combined in February, which is 0.6 percent more than the 2,482 sales in February 2017 and 11 percent higher than the 2,250 sales in January 2018.
Sales of single-family homes (1,886) in February 2018 decreased by 1.0 percent compared to February 2017, while condo sales (316) decreased 7.3 percent.
Sales of distressed homes (foreclosures and short sales) reached only 139 in February and is 41.4 percent less than the 237 distressed sales in February 2017. Distressed sales made up 5.6 percent of all Orlando-area transactions last month.
The overall inventory of homes that were available for purchase in February (7,706) represents a decrease of 8.9 percent when compared to February 2017, and a 1.3 percent increase compared to last month. There were 4.3 percent fewer single-family homes and 25.1 percent fewer condos.
“As we head into peak homebuying season, those buyers who are best prepared to deal with the challenges of low inventory are in the better position to secure a home” explains ORRA President Lou Nimkoff, Brio Real Estate Services. “Buyers should be ready to move quickly on a home they want by, for example, having a mortgage pre-approval letter in hand and having pre-determined with their REALTOR® which concessions and contingencies they are willing and able to eliminate from their purchase offers.”
Current inventory combined with the current pace of sales created a 3.09-month supply of homes in Orlando for February. There was a 3.41-month supply in February 2017 and a 3.38-month supply last month.
The average interest rate paid by Orlando homebuyers in February was 4.39, up from 4.07 percent the month prior.
Pending sales in February are down 5.6 percent compared to February of last year and are up 15.0 percent compared to last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in February were up by 0.1 percent when compared to February of 2017.
Each individual county’s sales comparisons are as follows:
*Lake: 12.3 percent above February 2017;
*Orange: 4.7 percent below February 2017;
*Osceola: 0.5 percent below February 2017; and
*Seminole: 3.7 percent above February 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
Orlando median home price jumps 13 percent in January
Orlando’s median home price continued along its upward trajectory in January while sales held steady with a 0.5 percent increase compared to January of 2017, reports the Orlando Regional REALTOR® Association.
The overall median price of Orlando homes (all types combined) sold in January is $225,000, which is 12.6 percent above the January 2017 median price of $199,900 and 2.2 percent below the December 2017 median price of $230,000.
Year-over-year increases in median price have been recorded for the past 79 consecutive months; as of January 2018, the overall median price is 94.8 percent higher than it was back in July 2011.
The median price for single-family homes that changed hands in January increased 10.1 percent over January 2017 and is now $240,000. The median price for condos increased 15.1 percent to $115,000.
The Orlando housing affordability index for January rose to 140.10 percent, up from 138.58 last month. The first time homebuyers affordability index rose to 99.62 percent, up from 98.55 percent last month.
Sales
Members of ORRA participated in 2,225 sales of all home types combined in January, which is 0.5 percent more than the 2,213 sales in January 2017.
Sales declined by 26.9 percent when compared to last month. “The nearly 27 percent drop between December and January is a decline that historically follows a big push to close in December as buyers seek to take advantage of homeownership tax benefits,” explains ORRA President Lou Nimkoff, Brio Real Estate Services. “While low inventory conditions remain a significant challenge, REALTORS® anticipate an improvement in month-to-month sales. In fact, the January pending sales tally increased by more than 1,000 homes compared to December 2017, making it the greatest month-to-month increase since ORRA began tracking pendings in 2006.”
Sales of single-family homes (1,731) in January 2018 increased by 0.46 percent compared to January 2017, while condo sales (268) decreased 5.6 percent.
Sales of distressed homes (foreclosures and short sales) reached only 143 in January and is 41.6 percent less than the 245 distressed sales in January 2017. Distressed sales made up 6.4 percent of all Orlando-area transactions last month.
The average interest rate paid by Orlando homebuyers in January was 4.07, up from 3.97 percent the month prior.
The overall inventory of homes that were available for purchase in January (7,604) represents a decrease of 11.1 percent when compared to January 2017, and a 1.3 percent decrease compared to last month. There were 6.6 percent fewer single-family homes and 29.7 percent fewer condos.
Current inventory combined with the current pace of sales created a 3.42-month supply of homes in Orlando for January. There was a 3.86-month supply in January 2017 and a 2.47-month supply last month.
MSA Numbers
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in January were down by 1.1 percent when compared to January of 2017.
Each individual county’s sales comparisons are as follows:
*Lake: 7.9 percent below January 2017;
*Orange: 1.5 percent below January 2017;
*Osceola: 4.8 percent above January 2017; and
*Seminole: 0.6 percent above January 2017.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.
Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.
