Central Florida Market Recap of December 2021

December’s median home price was recorded at $340,000, closing the year with the highest median home price ever recorded.

Orlando Regional REALTOR® Association releases overall 2021 data, revealing a historic year of real estate in Orlando, including an all-time record low for inventory and an all-time record high for median home price.

2021 Annual Market Recap 

(Cumulative 2021 totals compared to cumulative 2020 totals)  

• The overall median home price in 2021 was recorded at $310,000, a record high and a 17% increase compared to 2020 when the overall median home price was recorded at $265,000.
• Overall sales in 2021 increased by 23.6% with a total of 45,572 sales. Overall sales in 2020 were recorded at 36,871.
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Central Florida Market Recap of November 2021

November’s median home price was recorded at $330,000, a new record high and increasing once again after October’s median home price was recorded at $325,000.

November 2021 Recap

State of the Market

• November’s median home price was recorded at $330,000, a new record high and increasing once again after October’s median home price was recorded at $325,000.
• Overall sales in November dropped by 2.55%, with a total of 3,664 sales.
• Homes spent an average of 28 days on the market in November, up slightly from October 2021 when the average was 27.
• Inventory continues to drop in November, decreasing by 10.57% from October to November, for a total of 3,046 homes on the market in November.
• After the number of new listings…

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Central Florida Real Estate Market Recap - October 2021

October’s median home price was $325,000. This is an increase after a slight drop in September to $318,000.

October 2021 Recap

State of the Market

• October’s median home price was recorded at $325,000, increasing once again after a slight drop in September to $318,000. Orlando saw a 10-month steady increase in the median home price prior to September when the record high hit $320,000 in July (maintained in August).
• Overall sales in October dropped by 0.77%, with a total of 3,760 sales.
• Homes spent an average of 27 days on the market in October, the same amount as September 2021.
• Inventory dropped for the first time in six months, decreasing by 7.12% from September to October, for a total of 3,406 homes on…

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Housing Market Projections as We Near 2022

Even though we a few months of 2021 remaining, real estate experts have already begun shifting their focus on 2022 and beyond. While there are many factors that influence the real estate market as a whole, there are several that have the greatest impact on the consumer and will affect buyers and sellers in the year to come. Let’s take a look at these factors and where they are projected to go in 2022. 

Interest Rates

Mortgage rates are hovering near record lows, and that’s good news for today’s homebuyers looking for homes for sale in Haines City. Generally speaking, when rates are low, you can afford more home for your money. That’s why experts across the industry agree – today’s low rates present buyers with an incredible opportunity. And while…

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Central Florida Real Estate Market Recap - September 2021

September’s median home price was recorded at $318,000, down a slight drop from the record high of $320,000 set in August 2021

September 2021 Recap

State of the Market

• Orlando’s median home price dropped by $2,000 from last month. September’s median home price was recorded at $318,000, down a slight drop from the record high of $320,000 set in August 2021. The median home price has steadily been increasing over the last 11 months when it was recorded at $269,950 in October 2020.
• Overall sales in September dropped by 5.25%, with a total of 3,879 sales.
• Homes spent an average of 27 days on the market in September, an 8% increase from August.
• Inventory edged upward for the fifth straight month, rising by 0.8%…

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Central Florida Real Estate Market Recap - August 2021

Orlando’s median home price remained unchanged in August 2021 from the prior month – a record-high $320,000

August 2021 Recap

State of the Market

• Orlando’s median home price remained unchanged in August 2021 from the prior month – a record-high $320,000. The median price is 16% higher than August 2020’s $275,000.
• Sales fell for a second straight month this summer. In August 2021, sales dropped 4.4% from the previous month.
• Homes spent just 25 days on the market in August 2021, which is a record low. That is half the time homes spent on the market during the same month in 2020.
• For a fourth straight month, inventory increased, after reaching its lowest point in April 2021. This is in line with national trends…

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Is It Better to Buy or Rent in Florida?

Is it better to buy or rent in florida?

If you are considering whether renting or owning one of the many homes for sale in Minneola, Fl is right for you, there can be a lot of factors affecting your decision. While each situation is unique, there are some advantages to both scenarios that will ring true across the board. Let's take a look at the advantages that both options provide to help you better understand what is right for you and your family.

Advantages of Renting

Avoiding Property Value Losses

One of the many benefits to renting a home is the protection from property value losses. While decline in property value is rare, especially in the recent real estate markets, outside factors can contribute to a home becoming less valuable over…

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Central Florida Real Estate Market Recap - July 2021

The time homes are spending on the market has reached a historic low.

July 2021 Recap

State of the Market

• Orlando’s median home price reached $320,000 in July 2021, continuing a six-month trend of record-setting prices. The increase is 18.5% from July 2020, when the median home price was $270,000.
• Sales fell 5.2% in July 2021 compared to the previous month; however, they have spiked 13.7% from July 2020.
• The time homes are spending on the market has reached a historic low. In July 2021, homes spent just 26 days on the market.
• Inventory rose for a third straight month in July 2021 but is still down 43.3% year-over-year.
• “We are seeing the housing market start to level off from its peak, but that doesn’t mean…

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Central Florida Real Estate Market Recap - June 2021

Listings are spending an average of just 29 days on the market, a new post-2007 Recession low.

June 2021 Recap

State of the Market

• Median home prices in the Orlando area reached a new high in June 2021: $315,000. That is a 5% increase from the previous month and a 19% increase over June 2020, when the median home price was $265,000.
• Sales increased 14% from May to June of this year, as the number of new listings continues to rise. This is on par with nationwide trends noted by the National Association of REALTORS®.
• Listings are spending an average of just 29 days on the market, a new post-2007 Recession low.
• Inventory is rising, as more houses are listed for sale. However, there was only .7 months of supply in…

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Central Florida Real Estate Market Recap - May 2021

Demand remains so high, new listings are snatched up almost as soon as they’re on the market.

May 2021 Recap

State of the Market

• Median home prices in the Orlando area are now at their highest in ORRA’s recorded history. In May 2021, the median home price was $300,000, up 15% from May 2020.
• While inventory is on the rise for the first time since September 2020, listings in May 2021 spent only 36 days on the market – the fastest time frame since the Great Recession from 2007-2009.
• A fall in sales from April 2021 to May 2021, due to inventory shortages, is in line with national trends, reported by the National Association of REALTORS®. Both nationally and in the Orlando area, housing demand continues to dramatically…

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