Central Florida Real Estate Recap of November 2024

The Orlando Real Estate Market is considered 'Balanced' for the first time since 2011. 

State of the Market

  • The supply of homes in Central Florida rose to 6.43 months in November, up from 5.45 months in October. A balanced market is six months of supply.
    • February 2011 was the last time there was a six-month supply of homes.
  • Inventory for November was recorded at 11,604, up 2.2% from October when inventory was recorded at 11,357.
  • November’s interest rate was recorded at 6.7%, up from 6.4% in October.
  • The median home price for November was recorded at $380,000, down from $388,990 in October.
  • Homes spent an average of 67 days on the market…

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Central Florida Real Estate Recap of October 2024

Orlando saw a Drop in the nine-month streak of rising inventory in October, even as interest rates rose back into the 6.0s

State of the Market

  • Inventory for October was recorded at 11,357, down 1.8% from September when inventory was recorded at 11,560. This breaks a nine-month streak of rising inventory.
    • Inventory in October 2024 was still 45.4% higher than in October 2023.
  • October’s interest rate was recorded at 6.4%, up from 5.9% in September.
  • The median home price for October was recorded at $388,990, up from $380,000 in September.
  • Homes spent an average of 60 days on the market (DOM) in October – up slightly from 58 in September.
  • …

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Why Davenport Is Becoming a Popular Spot for Vacation Rentals

Why Davenport Is Becoming a Popular Spot for Vacation Rentals

Davenport, Florida, is quickly making a name for itself as one of the most desirable locations for vacation rentals. Situated in the heart of Central Florida, this charming town offers the perfect blend of convenience, affordability, and natural beauty. For those looking for a quiet escape close to world-renowned attractions, Davenport is the ideal choice. It’s no wonder more families, travelers, and investors are turning their attention to this hidden gem. Let’s dive into the reasons why Davenport is becoming such a popular spot for vacation rentals and why you should consider it for your next trip—or investment!

Check Out Vacation Homes for Sale in Davenport, FL

Prime Location…

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Central Florida Real Estate Recap of September 2024

Lower interest rates and rising inventory levels are setting the stage for a balanced Orlando housing market as we head through fall

State of the Market

  • Inventory for September was recorded at 11,560, up 0.4% from August when inventory was recorded at 11,511. This is the ninth month in a row inventory has risen. The last time inventory was this high was September 2015.
    • Inventory in September 2024 was 71.1% higher than in September 2023.
  • September’s interest rate was recorded at 5.9%, down from 6.1% in August. This is the lowest interest rates have been since August 2022.
  • Homes spent an average of 58 days on the market (DOM) in September – up…

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Central Florida Real Estate Recap of August 2024

August’s interest rate was the lowest that interest rates have been since August 2022

State of the Market

  • August’s interest rate was recorded at 6.1%, down from 6.6% in July. This is the lowest interest rates have been since August 2022.
  • Homes spent an average of 57 days on the market (DOM) in August – up from 55 in July.
    • In August 2023, homes spent an average of 41 days on the market.
  • Inventory for August was recorded at 11,511, up 3.2% from July when inventory was recorded at 11,158. This is the eighth month in a row inventory has risen. The last time inventory was this high was September 2015.
    • Inventory in August 2024 was 88.2% higher than in August 2023.
      • …

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Central Florida Real Estate Recap of July 2024

July represented another strong month in the housing market as many families worked to squeeze in their moves before the start of the new school year

State of the Market

  • July’s interest rate was recorded at 6.6%, down from 6.7% in June.
    • In ORRA’s new survey of Orlando REALTORS, 52% of respondents cited interest rates as the top challenge for buyers, causing some buyers to wait out purchasing homes right now or look at lower price points.
  • The median home price for July was recorded at $390,000, down from $395,000 in June. June was the highest monthly median home price on record in the Orlando area.
    • Home prices were cited as the second biggest…

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Central Florida Real Estate Recap of June 2024

June 2024 had the Highest monthly median home price on record in the Orlando area

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…

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Central Florida Real Estate Recap of May 2024

Inventory surpasses 10,000 homes for first time since 2016

State of the Market

  • Inventory for May was recorded at 10,282, up 9.7% from April when inventory was recorded at 9,376. This is the fifth month in a row inventory has risen. The last time inventory was this high was September 2016.
    • Inventory was 99.7% higher than May 2023.
  • Overall sales rose 5.4% from April to May. There were 2,909 sales in May, up from 2,759 sales in April. This is the fourth month in a row that sales have risen.
  • The median home price for May was recorded at $385,000, down from $388,500 in April. April was the highest monthly median home price on record in the Orlando…

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Central florida real estate recap of april 2024

New Orlando Regional REALTOR® Association data shows record-high median home price in Central Florida.

State of the Market

  • The median home price for April was recorded at $388,500, up from $386,500 in March. This is the highest monthly median home price on record in the Orlando area.
  • Overall sales rose 7.8% from March to April. There were 2,759 sales in April, up from 2,559 sales in March. This is the third month in a row that sales have risen.
  • April’s interest rate was recorded at 6.9%, up slightly from 6.7% in March. This is the third month in a row that interest rates have risen.
  • Inventory for April was recorded at 9,376, up 4.5% from March when…

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Central Florida Real Estate Recap of March 2024

New Orlando Regional REALTOR® Association data shows spike in listings kicking off the new year.

State of the Market

  • Overall sales rose 17.7% from February to March. There were 2,559 sales in March, up from 2,174 sales in February.
  • The median home price for March was recorded at $386,500, up from $377,000 in February. The highest monthly median home price on record in the Orlando area was $387,000 in June 2022.
  • Pending sales increased by 9.4%, with 3,891 in February and 4,257 in March.
  • New listings rose 8.6% from February to March, with 4,124 new homes on the market in March, compared to 3,799 in February.
  • Inventory for March was recorded at 8,971, up…

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