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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ORLANDO MEDIAN PRICE RISES IN OCTOBER WHILE SALES AND INVENTORY DROP

October 2019 Recap

Orlando’s housing market in recorded a 6% year-over-year increase in median price and a small 1% decrease in sales in October. The inventory of homes available for purchase appears to be back on a declining trend, with a decrease (5%) for the third consecutive month.

“Low inventory translates into opportunity for sellers,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “Declining interest rates mean greater purchasing power, which is alluring to buyers, and our local demand is illustrated by an 8 percent increase in pending sales for October.”

“The holidays and wintertime are actually excellent times to list a…

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ORLANDO MEDIAN PRICE GAINS WHILE INVENTORY DROPS AND SALES HOLD STEADY

Orlando’s housing market in August saw both its largest increase (+9%) in year-over-year median price and its first inventory decline (-2%) in 2019. Sales were up a tiny fraction (+0.1) compared to August 2018.

“Orlando’s ongoing challenge with the lower-price range categories, which have solid demand and insufficient supply, is consequently pushing up home prices,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “In addition, while our local economic indicators — particularly very favorable interest rates — point toward a housing strong market, low supply that leaves first-time homebuyers with few options is restraining sales up the…

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ORLANDO MEDIAN PRICE AND INVENTORY RISE AS SALES SLIP IN JUNE

Orlando’s housing market enjoyed year-over-year increases in both median price and inventory in June, while sales took a bit of a slide during the peak of our traditional homebuying season. 
 
“We are expecting June’s 2% decline in sales to reverse itself in the coming months as families seek to close on their new homes before the start of the school year,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “In addition, we anticipate an eagerness to take advantage of favorable conditions such as falling mortgage rates and small-but-steady increases in the inventory of homes available for purchase in the Orlando area.” 

June Housing Market…

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Real Estate Market Update

Orlando's housing market cools in advance of summer 

April 2019 Recap

After 93 months of consecutive year-over-year increases in median price, the Orlando housing market saw its first decline in April. The decrease was only 1% but it comes at the start of our traditional summer selling season, which typically sees jumps in both median price and sales.

According to the latest monthly report from the Orlando Regional REALTOR® Association, the median price (the figure at which half of the homes sold for more and half sold for less) was $235,000.

The report also shows 3,315 homes were sold in April compared to 3,371 for a 2% decrease. The decline can be…

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Central Florida Real Estate News
March 2019

March 2019 Recap

The Orlando housing market saw its median price continue a years-long upward trek with an economically healthy 3 percent year-over-year increase in February. Sales dipped a fraction and inventory increased for the fourth consecutive month, just in time for the start of Orlando’s homebuying season. 

“March and April typically herald the beginning of our most active period, when a great many prospective buyers begin getting serious about being settled into a home before the new school year,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “Despite a decrease in year-over-year sales, greater inventory combined with moderated prices…

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