Central Florida Real Estate Recap of August 2023

New Orlando Regional REALTOR® Association data shows market continues to cool as fall season approaches

August 2023 Recap

State of the Market

  • Inventory for August was recorded at 6,115, up 6.9% from July when inventory was recorded at 5,720.
  • New listings rose 6.1% from July to August, with 3,620 new homes on the market in August, compared to 3,413 in July.
  • The median home price for August was recorded at $375,000, down from $380,000 in July. This is the second month in a row that median home price has fallen.
  • Median home price in August 2023 was extremely close to August 2022, when it was recorded at $377,750.
  • Overall sales fell slightly – 2.1% – from…

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Central Florida Real Estate Recap of July 2023

New Orlando Regional REALTOR® Association data shows interest rates reach second-highest level in 20 years, impacting Orlando’s housing market

July 2023 Recap

State of the Market

  • July’s interest rate was recorded at 6.8%, up slightly from 6.7% in June. This is the second-highest interest rate in Central Florida in 20 years. October 2022 had the highest interest rate in 20 years at 7.0%
    • In ORRA’s new survey of Orlando REALTORS, 43% of respondents said that rising interest rates are the biggest challenge facing buyers, causing some buyers to wait out purchasing homes right now or look at lower price points.
  • Overall sales fell 8.7% from June to July. There…

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Central Florida Real Estate Recap of 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

June 2023 Recap

State of the Market

  • The median home price for June was recorded at $385,000, up from $378,000 in May. Median home prices have increased every month this year.
  • Median home price in June 2023 was close to June 2022, when it was recorded at $387,000.
  • New listings rose 7.1% from May to June, with 3,703 new homes on the market in June, compared to 3,459 in May.
  • Homes spent an average of 41 days on the market (DOM) in June, down from 45 days in May. This is 105.0% higher than June 2022 when homes spent an…

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Central Florida Real Estate Recap of May 2023

New Orlando Regional REALTOR® Association data shows rise in sales and median home price as summer selling season heats up

May 2023 Recap

State of the Market

  • Overall sales rose 13.9% from April to May. There were 3,150 sales in May, up from 2,766 sales in April.
  • Overall sales in May 2023 were 20.2% lower than May 2022 when there were 3,946 sales.
  • The median home price for May was recorded at $378,000, up from $370,000 in April. This is a $28,000 increase since January. Median home prices have increased every month this year.
  • Median home price in May 2023 was roughly the same as May 2022, when it was recorded at $379,950.
  • May’s interest rate was recorded at…

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Central Florida Real Estate Recap of 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

April 2023 Recap

State of the Market

  • Overall sales fell 5.8% from March to April. There were 2,766 sales in April, down from 2,936 sales in March.
  • Overall sales in April 2023 were 27.2% lower than April 2022 when there were 3,800 sales.
  • Inventory rose 1.9% – from 5,052 homes in March to 5,148 homes in April.
  • Inventory in April 2023 (5,148) was 92.8% higher compared to April 2022, when it was recorded at only 2,670 homes.
  • The median home price for April was recorded at $370,000, up from $365,000 in March.…

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Central Florida Real Estate Recap of March 2023

New Orlando Regional REALTOR® Association data shows an increase in new listings and home sales as spring buying season begins

March 2023 Recap

State of the Market

  • Overall sales rose 31.1% from February to March. There were 2,936 sales in March, up 696 from the 2,240 sales recorded in February.
  •   Overall sales in March 2023 were 28.4% lower than March 2022 when there were 4,100 sales.
  •   Inventory dropped 9.1% – from 5,555 homes in February to 5,052 homes in March.
  •   Inventory in March 2023 (5,052) was 103.9% higher compared to March 2022, when it was recorded at only 2,478 homes.
  •   New listings spiked 22.1% from February to March, with 3,442 new homes on…

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Central Florida Real Estate Recap of February 2023

The Orlando housing market continues to look positive as we look ahead to a strong spring selling season

February 2023 Recap

State of the Market

  • Overall sales rose 33.8% from January to February. There were 2,240 sales in February and 1,674 sales in January.
  • Overall sales in February 2023 were 30.0% lower than February 2022 when there were 3,198 sales.
  • Inventory dropped from 6,115 homes in January to 5,555 homes in February.
  • Inventory in February 2023 (5,555) was 140.2% higher compared to February 2022, when it was recorded at only 2,313 homes.
  • The median home price for February was recorded at $358,000, up from $350,000 in January. This comes after…

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Central Florida Real Estate Recap of January 2023

Sales Fell 29.4% between December 2022 and January 2023

January 2023 Recap

State of the Market

  • Overall sales fell 24.9% from December to January. There were 1,674 sales in January and 2,230 sales in December. This is the lowest number of monthly home sales since February 2009.
  • Overall sales in January 2023 were 44.8% lower than January 2022 when there were 3,033 sales.
  • The median home price for January was recorded at $350,000, down from $353,200 in December. This is the third straight month median home price has fallen.
  • Homes spent an average of 57 days on the market (DOM) in January, up from 49 days in December. This is a 78.1% increase compared to…

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Central Florida Real Estate Recap of December 2022

Overall sales in December increased by 11.7% from November, with 2,230 sales recorded

December 2022 Recap

State of the Market

  • “The white-hot seller's market we saw last year is over as we’re now seeing a more traditional market,” said Lisa Hill, 2023 Orlando Regional REALTOR® Association President. “Inventory is on the rise, giving buyers more options. However, those buyers are also faced with higher interest rates, which will have the biggest impact on the market in 2023.”

  • December’s median home price was recorded at $353,200, down from November’s median home price of $360,000. The overall median home price in 2022 was recorded at $365,000, an all-time high and…

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Central Florida Real Estate Recap of November 2022

November had the lowest number of monthly home sales in nearly four years, dating back to January 2019.

November 2022 Recap

State of the Market

  • Overall sales fell from October to November. There were 1,996 sales in November – down 26.5% from 2,716 sales in October. This is the lowest number of monthly home sales in nearly four years, dating back to January 2019.
  • Overall sales in November 2022 were 45.5% lower than November 2021 when there were 3,664 sales.
  • Inventory in November 2022 was 136.3% higher compared to November 2021, when it was recorded at only 3,046 homes.
  • Inventory rose slightly, from 7,128 homes in October to 7,197 homes in November. This is…

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