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 asking price. In our super heated market of 2021 that percentage has more than tripled. We have seen inventory rise somewhat over the last two months, and there has been a slight decrease in the percentage of home selling above asking price. I am not ready to call this a trend just yet, but it feels like some buyers are thinking twice, before going all-in with their offers. I am not looking for big changes though, after all we have a four week supply of inventory available for sale. That is up from three weeks supply we had a couple of months ago, but far from a 'balanced' market. #OrlandoRealEstate