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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Central Florida Real Estate Recap of October 2022

Inventory Rose for the Eighth straight month in a row with current inventory at 7,128 homes on the market.

October 2022 Recap

State of the Market

  • October’s interest rate was recorded at 7%, a 10% increase from September when the interest rate was 6.3%. The last time interest rates were this high was May 2002.
  • That 7% interest rate in October 2022 was 131% higher compared to October 2021 when the interest rate was recorded at just 3%.
  • Inventory rose 3.5% from September to October, from 6,884 to 7,128. This is the eighth straight month of inventory increases.
  • Inventory in October 2022 was 109.3% higher compared to October 2021, when it was recorded at 3,406…

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Central Florida Real Estate Market Recap of September 2022

Due to the increase in interest rates, Sales have dropped 18.3 % when compared to August.

September 2022 Recap

State of the Market

  • September’s interest rate was recorded at 6.3%, a 19.5% increase from August when the interest rate was 5.3%.
  • Overall sales in September dropped by 18.3% for a total of 2,717 sales compared to 3,324 sales in August.
  • Overall sales dropped 28.3% in September 2022 compared to September of last year.
  • The median home price for September 2022 was recorded at $365,000, a decrease of 3.4% compared to August’s median home price, $377,750. This is the third month in a row that the median home price has fallen.
  • Inventory rose…

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Central Florida Real Estate Market Recap of August 2022

This is the second month in a row that the median home price has fallen with the median price recorded at $377,500

August 2022 Recap

State of the Market

  • The median home price for August 2022 was recorded at $377,750, a slight decrease of 0.8% compared to July’s median home price, $380,900. This is the second month in a row that the median home price has fallen.
  • Inventory rose 3.7% in August, from 6,518 to 6,762. This is the fourth straight month of inventory increases.
  • Homes spent an average of 27 days on the market in August, jumping 28.6% from July when the average was 21 days.
  • Interest rates remained relatively flat – 4% in July vs. 5.3% in…

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Central Florida Real Estate Market Recap of July 2022

The Median home price has fallen for the first time in 6 months, with a decrease of 1.6% compared to June.

July 2022 Recap

State of the Market

  • The median home price for July 2022 was recorded at $380,900, a decrease of 1.6% compared to June. This is the first time in six months that the median home price has fallen.
  • Inventory jumped by 19.9% in a single month, from June to July – that's 1,081 more homes for sale. This is the third straight month of double-digit inventory increases.
  • Looking at May-July of this year compared to the same period last year, inventory has risen 67.38%. There has been an average of 2,121 more homes on the market this summer…

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Central Florida Real Estate Market Recap of June 2022

Housing inventory jumped 41% in June with an additional 1,586 more homes on the market in June

June 2022 Recap

State of the Market

  • Inventory increased by 41.2% from May 2022 to June 2022, with 1,586 more homes on the market in June compared to May. This is the second month in a row with a surge in inventory, following May’s increase of 44.2%.
  • Inventory increased by 75.5% from June 2021 to June 2022, jumping from 3,098 homes in June 2021 to 5,437 in June 2022.
  • June’s median home price was recorded at $387,000, an increase of 1.9% compared to May 2022; this sets a record high for the fifth month in a row. This is a 22.9% increase from June 2021 to June 2022,…

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Central Florida Real Estate Market Recap of May 2022

May’s median home price was recorded at $379,950, an increase of 2.7% compared to $370,000 in April 2022

May 2022 Recap

State of the Market

  • Inventory increased by 44.2% from April 2022 to May 2022, with over 1200 additional homes hitting the market in May compared to April – this is the highest monthly increase in Orlando inventory to date
  • May’s median home price was recorded at $379,950, an increase of 2.7% compared to $370,000 in April 2022; this sets a record high for the fourth month in a row.
  • Interest rates increased from 4.9% in April 2022 to 5.3% in May 2022. This is the highest interest rates in the Orlando area have been since 2009. This is also…

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