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 slipped 0.5% from $379,950 down to $378,000.
Watch this short video breaking down the #OrlandoRealEstate market results for May 2023.