orlando real estate: Orlando Real Estate December 2023
- 01/18/24 09:23 AM
The #OrlandoRealEstate market continues to move a bit slower than 2022, but slower sales have not had an effect on prices. Total sales were 11% lower than a year ago with just 1,982 homes of all types closing in December 2022.
The slower pace of sales has had an impact on inventory with the number of homes available for sale climbing 23% year over year. Currently, there are 7,838 homes available for sale in the Orlando market.
Even with the slower sales pace and the rising inventory, home prices continue to be strong with a 4% increase compared to December 2022. The median … (0 comments)
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orlando real estate: Orlando Real Estate October 2023
- 12/13/23 10:20 AM
The inventory of homes available for sale continues to climb on high interest rates. Prices too are up from a year ago rising 3% to $377,000. The number of sales is once again lower when compared with October 2022 with just 2,429 homes of all types closing during the month. That is down 11% compared to a year ago. The 7,813 homes available for sale at the end of October is still just a 3.2 month supply of inventory. Check out the brief video breaking down the #OrlandoRealEstate market results for October 2023.
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orlando real estate: Orlando Real Estate May 2023
- 06/27/23 07:57 AM
The number of homes of all types available for sale is of course still up compared to last year. There were 5,149 homes for sale in May up 33.7% compared to a year ago, but up only 1 home compared to April. The number of closed sales was down 20.2% with 3,150 closed transactions last month compared to 3,946 in May 2022. These numbers pretty much continue the trends we have been seeing since interest rates began to rise last summer. One trend that was broken last month was year over year sales price increases. The median sales price last month … (0 comments)
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orlando real estate: Orlando Real Estate April 2023
- 05/22/23 08:36 AM
Orlando real estate numbers continue to be solid. Inventory remains high compared to a year ago with 5,148 homes of all types available for sale compare to just 2,670 a year ago. However, that is still less than a two month supply of homes for sale. The median price remains strong at $370,000 holding steady compared to last year. The total sales number is again way down compared to a year ago, and I have no answer for this, because the official numbers continue to run around 1,000 fewer than what I am counting on our multiple listing service.
If you are … (0 comments)
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orlando real estate: Orlando Real Estate March 2023
- 04/17/23 08:13 AM
Inventory and prices remain higher than a year ago, with sales numbers quite a bit lower than last March. Currently inventory is just over double what it was last year with 5,052 homes available for sale. However, that number is 9% lower than February, and March is the fourth month in a row with declining numbers of homes for sale. The median price last month was $365,000 which is a modest 1% increase over last March. Sales continue to be much lower than a year ago, with 2,936 closed transactions last month. That is down 28% from March of 2022, however … (2 comments)
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orlando real estate: Orlando Real Estate February 2023
- 03/15/23 12:52 PM
The latest #OrlandoRealEstate market report for February 2023 is in. Take a look at the brief video below. Inventory is up 140% from a year ago, but down for the third month in a row. Homes available for sale declined over 9% compared to January. Sales declined 30% from a year ago, but increased over 33% compared to the month before. The median sales price for February was up 3.8% compared to February 2022, and up 2.3% compared to January of this year. The Orlando real estate market remains quite strong, even with higher interest rates. Nearly 1/3 sales have been … (2 comments)
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orlando real estate: Orlando Real Estate December 2022
- 01/17/23 11:27 AM
Since the Federal Reserve started raising rates last year, we have seen the inventory of available homes increase and sales decrease when compared to the prior year. This continued in December. Inventory was up 146% compared with December 2021, and sales declined 42% over the same period. The rate hikes have also slowed the rise in prices with the median sales price last month increasing just 4% compared to a year earlier.
However, compared with November we did see fewer new listings and higher sales last month, so the inventory of homes for sale actually declined nearly 12% month over month. The … (0 comments)
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orlando real estate: Orlando Real Estate October 2022
- 11/29/22 07:49 AM
Climbing interest rates continue to have an impact on closed sales and new contracts. Closed sales dropped 27.8% with 2,716 homes of all types closing compared to 3,760 a year ago. New contracts declined over 50% from 3,583 to 1,788 compared to October 2021. Slowing sales have pushed the inventory of homes available for sale up over 100% compared to last year. There are currently 7,128 homes for sale compare to 3,406 last year.
Higher rates have also caused home price increases to slow. The median sales price last month was up 12.3% compared to last year. The median sales price of … (0 comments)
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orlando real estate: Waiting for Orlando Real Estate Prices to Fall?
- 10/25/22 06:36 AM
If you are waiting on #OrlandoRealEstate prices to collapse, keep waiting. This is not the 2008 recession. A lot of buyers in 2004-2006 were speculating on the rapid rise in real estate prices to flip properties. The increases were further fueled by crazy financing such as 105% financing with no documentation needed. Our crazy increases over the past couple of years have been dominated by actual 'home' buyers and long term cash investors from what I have seen.
When the market began cooling in 2006 there were about 6,000 lis pendens filed in Orange County, and that number grew to over 27,000 … (2 comments)
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orlando real estate: Orlando Real Estate September 2022
- 10/19/22 07:41 AM
Once again inventory rose significantly compared to a year ago, but the 6,884 homes available for sale was up only 1.8% from August. Close sales were down 28.3% compared to a year ago with just 2,717 compared to 3,789 in September of 2021. New listings and new contracts were also down compared to the same month last year, but the median sales price was up 14.8% to $365,000. The inventory or homes for sale represents a 2.5 month supply compared to about a one month supply last year, and the time on market rose slightly to 31 days compared to 27 … (2 comments)
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orlando real estate: Orlando Real Estate August 2022
- 09/15/22 08:32 AM
Sales are down compared to a year ago, but the median sales price is still way up from 2021. Inventory has climbed dramatically since this year's low in February. Sales have declined 17% to 3,324 compared to 3,999 a year earlier. Prices are up 18% over the same time period, rising from $320,000 to $377,750 last month. The most dramatic change has come in our inventory of homes of all types available for sale. The inventory has risen from 3,638 to 6,762, an increase of 86%.
Check out this brief video with more information about the #OrlandoRealEstate market results for August.
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orlando real estate: Orlando Real Estate May 2022
- 06/15/22 11:03 AM
The 11 year trend of falling inventory is definitely reversing. New listings shot up nearly 12% pushing our inventory of homes available for sale up over 36% compared to a year ago. Our upward sales trend has not quite reversed course, but may be heading that way. In April we saw sales slip slightly from the year before, but May had a slight rebound with 3,946 closed sales up 1.9% compared with May of 2021. Prices continue to push higher with nearly a 27% increase in the median sales price compared to a year earlier. The May median sales price climbed … (0 comments)
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orlando real estate: Orlando Real Estate April 2022
- 05/17/22 05:39 AM
Two notable changes may indicate a couple of new trends in the #OrlandoRealEstate market.
First, inventory actually ticked up compared to a year ago. Last month we had 2,670 homes of all types available for sale compared to 2,655 a year earlier. Since 2011, this is only the third time we have seen a year over year increase in inventory. The other two times were at the peak of COVID lockdowns in 2020.
Second, total sales dropped pretty sharply. There were 3,800 closed sales last month compared to 4,081 a year earlier. The rapid rise in interest rates has clearly had an impact, … (1 comments)
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orlando real estate: Don't Forget the Four Point
- 11/04/21 08:49 AM
Let me start by saying, 'I am not a home inspector, and none of this is intended to replace a home inspection.' There, that is my disclaimer for this post. If you are selling or purchasing a home in the Orlando real estate market, I recommend you know a little about four point inspections.
First, what are the four points? The four items covered in a four point inspection include: roof, electrical, plumbing and HVAC. Why do you need a four point inspection? If you are purchasing a home that is more than 10 years old, your insurance company is likely to … (1 comments)
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orlando real estate: Orlando Real Estate September 2021
- 10/18/21 07:54 AM
Inventory remains low with 39% fewer homes of all types available for sale compared with a year ago. We did see a very small, 1% increase in inventory from August to September however. Even with the lower inventory, total sales continued to climb by 9% compared to September of 2020. Based on the total number of sales of 3,789, we have roughly 29 days of inventory on hand. Low inventory and strong demand along with very favorable interest rates pushed the median sales price to $318,000, which is up 18% compared to last year.
Be sure to check out this brief video … (1 comments)
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orlando real estate: Orlando Real Estate August 2021
- 09/20/21 07:32 AM
Up 13%, up 16% and down 39%. If you read my blog regularly, you already know what these are, because we have been in this trend for quite some time. The first number represents the increase in home sales last month compared to a year ago. Sales were up 13% with 3,999 closed transactions compare with 3,539 in August of 2020. The second number represents the increase in the median sales price for Orlando real estate which was $320,000 last month. The third number represents the decline in inventory available for sale which stands at 3,638, a 39% decrease from a … (0 comments)
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orlando real estate: Sold Over Asking Price - Orlando 2021
- 09/08/21 07:39 AM
Just how challenging has the Orlando real estate market been for buyers this year? I took a look at the percentage of closed sales, in Orange and Seminole Counties for the last six months that closed above asking price. I looked at the numbers for this year compared with 2019. I went back two years for obvious reasons, given the special circumstances and challenges of 2020. Below is a table that illustrates just how much more challenging our market has been for buyers this year.
You can see that in a 'normal' market nearly 10% our sales in Orlando close above the … (3 comments)
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orlando real estate: Orlando Real Estate July 2021
- 08/17/21 09:13 AM
No major changes last month. Sales and prices continue to climb double digits, while inventory continues to run low. Total sales in July rose 14% compared to a year ago with 4,183 homes of all types closing last month. The median price of the homes sold in July rose 18% compared to July 2020 with a median sales price of $320,000. While inventory was still 43% lower than a year ago, we did see a rise of 14% compared to June. As of the end of July there were 3,524 homes available for sale representing about a 26 day supply of … (1 comments)
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orlando real estate: Orlando Real Estate June 2021
- 07/20/21 08:20 AM
The #OrlandoRealEstate market continues to burn red hot as the summer selling season got under way last month. Sales and prices soared double digits, while the inventory of homes available for sale remains extremely low. June saw a 42% increase in the number of homes sold, compared to last year. The 4,414 closed sales last month is the highest number so far this year. The median price last month jumped 19% compared to a year ago, skyrocketing from $265,000 a year ago to $315,000. The inventory of homes available for sale did increase about 10% compared to May, but was still … (1 comments)
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orlando real estate: Orlando Real Estate May 2021
- 06/16/21 08:25 AM
Take the sales increase with a grain of salt. Remember last year, May sales were way off due to COVID-19. That being said, sales did climb 82% compared with a year ago, and the median price soared 15% compared with May 2020. Over that same time, the inventory of homes of all types available for sale has plummeted 61%. Sales last month outpaced the inventory, meaning we have less than a one month supply of homes available for sale in Orlando. That may be starting to turn around though, because the 2,822 homes for sale represented a 6% increase in supply … (0 comments)
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The #OrlandoRealEstate market continues to move a bit slower than 2022, but slower sales have not had an effect on prices. Total sales were 11% lower than a year ago with just 1,982 homes of all types closing in December 2022.
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