Homes are selling faster than ever, so potential buyers must come prepared and pre-approved with a strong offer.

April 2021 Recap

State of the Market

  • The pandemic’s biggest impact on the Orlando housing market hit in April 2020, putting the brakes on sales. Since then, inventory has continued to decline - despite high demand from buyers - and hit an all-time-low last month (April 2021). There were major gains in sales year-over-year for April 2021, due to effects of the pandemic last year.
  • There were only 2,655 homes for sale in April 2021; that is a record low dating back to 1995, as far back as ORRA data goes. For perspective, the Orlando area’s population in 1995 was 1,092,514; today it is 1,814,118, according to…

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Inventory is so low, it would take only three weeks to sell all the homes for sale in the Orlando area.

March 2021 Recap

State of the Market

  • The number of homes for sale in the Orlando area plunged 61% from March 2020 to March 2021. This continued decline from the prior month puts an even tighter squeeze on a market with just 2,878 homes for sale.
  • Inventory is so low, it would take only three weeks to sell all the homes for sale in the Orlando area. A balanced market is considered six months of inventory.
  • The median home price continues to rise, now at $285,000, a 12% increase from March 2020 to March 2021.
  • Interest rates continued to rise for a third straight month. The average interest rate in March 2021 was…

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Inventory is less than Half of what it was in February 2020 tipping the favor to Sellers in the current Market.

February 2021 Recap

State of the Market

  • The number of homes for sale in the Orlando market plummeted by 50% from February 2020 to February 2021. This marks the lowest inventory since May 2005, putting an even tighter squeeze on the market, as demand remains high.
  • The supply of homes stands at 1.14 months, less than half of what it was in February 2020 (2.71). A healthy market has a six-month supply
  • The median home price continues to rise, with February’s median price at $280,000 up 2% over January.
  • Interest rates continued to rise for a second straight month to an average of 2.88% in February 2021.…

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During the First Month of 2021 the Orlando Housing Market Remained Strong

January 2021 Recap

State of the Market

  • There are fewer homes on the market to start off in 2021. More people are moving to Central Florida, furthering the gap between supply and demand. The Orlando metropolitan area gained 60,977 new residents in 2020, the most in the last five years.
  • Buyers are quickly snatching up available homes. In January, homes spent an average of just 40 days on the market versus 60 days in January 2020.
  • “Sellers definitely have the upper hand right now. Inventory is down significantly from a year ago, and we’re seeing this continued influx of people moving to Central Florida. Buyers need to be pre-approved and…

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Orlando Housing Market Closes out 2020 with Increased Median Home Prices and Lowest Inventory Seen in Years 

December 2020 Recap

A new report from the Orlando Regional REALTOR® Association details how the housing market fared in 2020 compared to recent years. Despite the pandemic and its impacts, Orlando’s median home price rose as buyers scrambled to find homes in a market with consistently shrinking inventory.

According to the report, Orlando’s annual median home price for 2020 ($265,000) was 9.1% higher than the 2019 annual median price ($243,000), thanks to another 12 months of year-over-year median price increases. While the median home price rose each month, inventory continued to decline and reached a low in…

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Orlando Area Home Sales Hot for the Holidays, as Low Inventory Persists

November 2020 Recap

Plenty of people bought a new home in the Orlando area for the holidays, despite low inventory and the number of new listings falling to their lowest levels this year, according to a new report from the Orlando Regional REALTOR® Association. A total of 3,251 homes were sold in November, accounting for a 20.4% increase in sales over November 2019. However, inventory plummeted 26.2% during that same time period.

“There are fewer homes on the market, but they are selling quickly. The highest demand is for homes between $200,000 to $350,000,” said 2020 ORRA President Reese Stewart, RE/MAX Properties SW. “Sellers in this price range are…

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Orlando Area Homes Sales Jump 25% in October, Leading Into Strong Holiday Season For Sellers

October 2020 Recap

The Orlando area avoided the typical fall slowdown and, instead, showed significant increases in homes sales and home prices in October, according to a new report from the Orlando Regional REALTOR® Association. Monthly housing report data reveals that the number of homes sold in October 2020 spiked 25% over October 2019, and the median price increased 11.6% during that same time frame.

"We're seeing strong home sales making up for steep declines earlier this year. REALTORS® are not seeing the usual slowdown as we head into the holiday season," said ORRA President Reese Stewart, RE/MAX Properties SW. "This…

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Low Inventory of Homes for Sale Continues to Drive Up Orlando Area Home Prices

September 2020 Recap

Orlando-area homes continue to fly off the market this fall, as inventory remains tight, according to a new report from the Orlando Regional REALTOR® Association. Monthly housing report data from September 2020 reveals fewer homes and higher prices than last year (September 2019), with a 23.3% drop in inventory and a 10.2% increase in the overall median home price to $270,000.

"While spring is usually the busiest time for home sales, fall seems to show no signs of a slow-down. COVID-19 has changed the dynamic for 2020. We have seen mortgage rates continue to decline to an average of 2.74%, giving buyers additional incentives…

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Katrina Anarumo, Broker  

Central Florida Real Estate News - May 2020

ORLANDO MEDIAN HOME PRICE RISES AS APRIL NUMBERS REVEAL AN EXPECTED DECLINE IN CLOSINGS 

 

April 2020 Recap

Orlando’s housing market in April saw its median home price increase 12%, while home sales dropped 28% in the first month to show an anticipated decline in activity as a result of the COVID-19 pandemic. Inventory experienced a year-over-year decline of 3%, reports the Orlando Regional REALTOR® Association. 

“Our market — like those nationwide — is grappling…

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Central Florida Real Estate News December 2019


ORLANDO HOME SALES, MEDIAN PRICE ON THE RISE IN NOVEMBER WHILE INVENTORY DROPS


November 2019 Recap

Orlando’s housing market in recorded 3% year-over-year increases in both median price and sales in November, reports the Orlando Regional REALTOR® Association. The association’s data also show that the inventory of homes available for purchase declined for the fourth consecutive month, with November’s 10 percent drop the steepest of 2019.

“Despite our ongoing inventory challenge, there are some very interesting forward-looking indicators this month,” says ORRA President Jeffrey M. Fagan, Watson Realty Corp. “For example, the pending sales tally is up 17 percent compared to…

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