Central Florida Real Estate Recap of June 2024

State of the Market

• The median home price for June was recorded at $395,000, up from $385,000 in May. This is the highest monthly median home price on record in the Orlando area. This is the second time in 2024 the record has been broken.
• Inventory for June was recorded at 10,796, up 5.0% from May when inventory was recorded at 10,282. This is the sixth month in a row inventory has risen. The last time inventory was this high was November 2015.
• Overall sales fell 10.6% from May to June. There were 2,601 sales in June, down from 2,909 sales in May. This breaks a four-month streak of rising sales.
• June’s interest rate was recorded at 6.7%, up from 6.6% in May.
• Pending sales fell by 8.3%, with 4,298 in May and 3,940 in June.
• New listings fell 8.4% from May to June, with 4,143 new homes on the market in June, compared to 4,521 in May.
• Homes spent an average of 54 days on the market (DOM) in June – the same as in May and April.
• "Demand in the Orlando market is holding strong this summer, as evidenced by yet another record-breaking median home price in June,” said Rose Kemp, Orlando Regional REALTOR® Association President. “The good news for buyers is that we are continuing to see inventory rise. More inventory gives buyers more options and more power to negotiate with the seller in the home-buying process."

Market Snapshot

• Interest rates rose from 6.6% in May to 6.7% in June.
• Pending sales fell 8.3%, with 4,298 in May and 3,940 in June.
• 25 distressed homes (bank-owned properties and short sales) accounted for 1.0% of all home sales in June. That represents a 47.1% increase from May when 17 distressed homes sold. 

Inventory

• Orlando area inventory increased 5.0% from May to June. Inventory in May was 10,282, and inventory in June was 10,796.
• The supply of homes rose to 4.15 months in June, up 17.4% from 3.53 months in May. A balanced market is six months of supply.
• The number of new listings decreased from May to June by 8.4% – from 4,521 homes to 4,143 homes.

Year over Year Changes 

 Courtesy of Orlando Regional Realtor Association

Homes for Sale in Davenport FL

Show Filters

Bedrooms

Bathrooms

Price Range

Save Search

Sort by:

Price, low to high

New

$179,900

108 Andros Avenue, DAVENPORT

3 Beds 2 Baths 1,227 SqFt Residential MLS® # O6272686

$219,500

↓ $5,495

2564 St George Drive, DAVENPORT

1 Bed 2 Baths 546 SqFt Residential MLS® # O6201283

1 2 3 4 559

Next

Tags

• Newsletter (12)
• Housing Market (4)
• Orlando Real Estate (2)
• Davenport Real Estate (2)