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Orlando State of the Market August 2024

September 24th, 2024 by tisner

New Orlando Regional REALTOR® Association data shows 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.

State of the Market

  • “Interest rates have dropped to their lowest level since August 2022, providing much-needed relief for buyers,” said Rose Kemp, President of the Orlando Regional REALTOR® Association. “This decrease can significantly reduce monthly mortgage payments by hundreds of dollars. Additionally, buyers have more leverage and options, with homes staying on the market longer and inventory increasing. Now is the perfect time to explore the market, find your dream home, and secure a favorable rate.”
  • The median home price for August was recorded at $384,500, down from $390,000 in July.
  • Overall sales held steady from July to August. There were 2,655 sales in August, compared to 2,652 sales in July.
  • 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.
  • 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.
  • 11 distressed homes (bank-owned properties and short sales) accounted for 0.4% of all home sales in August. This is a 56.0% decrease
    from July, when 25 distressed homes sold.
  • New listings fell 5.2% from July to August, with 3,856 new homes on the market in August, compared to 4,067 in July.

  • Interest rates: The average interest rate for a 30-year fixed mortgage in September was 5.9%, down from 6.1% in August. This marks the lowest rate since early 2023.
  • Increasing inventory: The number of homes for sale in September rose to 11,825, up from 11,511 in August. This is the ninth consecutive month of inventory growth.
  • Stable prices: The median home price in September was $383,000, slightly down from $384,500 in August.

You can find ORRA’s full State of the Market Report for August here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Monday Morning Quarterback for September 8th, 2024 – September 14th, 2024

September 17th, 2024 by tisner

Every Monday, ORRA’s Monday Morning Quarterback Report gives you a snapshot of the previous week’s market activity, including sales, prices, days on market, and much, much more.

Monday Morning Quarterback for September 8th, 2024 – September 14th, 2024

Single-family existing homes

  • Sales of single-family homes increased to 405 during the week of September 08, from 331 the week prior
  • The median price of single family homes increased to $425,000 a change of 1.2%
  • The number of single-family home foreclosure transactions decreased to 1 from 2 the week prior
  • The number of single-family short-sale transactions increased to 1 from 0 the week prior
  • Single-family inventory increased by 95, and now sits at 7,544.

Condos, townhomes, and villas

  • Sales of condos, townhomes, and villas decreased to 105 during the week of September 08, from 120 the week prior
  • The median price of condos, townhomes, and villas decreased to $268,000 a change of -6.6%
  • The number of condo, townhome, and villa foreclosure transactions increased to 1 from 0 the week prior
  • The number of condo, townhome and villa short-sale transactions remains constant at 0
  • Condo inventory increased by 69, and now sits at 3,726.

Want to understand the Orlando market like a pro? Full report offers a deeper dive: https://www.orlandorealtors.org/mmq

https://www.orlandorealtors.org/mmq

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Monday Morning Quarterback for September 1st, 2024 – September 7th, 2024

September 10th, 2024 by tisner

Every Monday, ORRA’s Monday Morning Quarterback Report gives you a snapshot of the previous week’s market activity, including sales, prices, days on market, and much, much more.

Monday Morning Quarterback for September 1st, 2024 – September 7th, 2024

Single-family existing homes

  • Sales of single-family homes decreased to 331 during the week of September 01, from 501 the week prior
  • The median price of single family homes remains constant at $420,000
  • The number of single-family home foreclosure transactions remains constant at 2
  • The number of single-family short-sale transactions remains constant at 0
  • Single-family inventory increased by 78, and now sits at 7,449.

Condos, townhomes, and villas

  • Sales of condos, townhomes, and villas decreased to 120 during the week of September 01, from 148 the week prior
  • The median price of condos, townhomes, and villas decreased to $287,000 a change of -7.6%
  • The number of condo, townhome, and villa foreclosure transactions remains constant at 0
  • The number of condo, townhome and villa short-sale transactions remains constant at 0
  • Condo inventory remains constant at 3,657.

Want to understand the Orlando market like a pro? Full report offers a deeper dive: https://www.orlandorealtors.org/mmq

https://www.orlandorealtors.org/mmq

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Monday Morning Quarterback for August 25th, 2024 – August 31st, 2024

September 4th, 2024 by tisner


Every Monday, ORRA’s Monday Morning Quarterback Report gives you a snapshot of the previous week’s market activity, including sales, prices, days on market, and much, much more.

Monday Morning Quarterback for August 25th, 2024 – August 31st, 2024

Single-family existing homes

  • Sales of single-family homes increased to 501 during the week of August 25, from 424 the week prior
  • The median price of single family homes decreased to $420,000 a change of -2.3%
  • The number of single-family home foreclosure transactions remains constant at 2
  • The number of single-family short-sale transactions decreased to 0 from 1 the week prior
  • Single-family inventory decreased by 41, and now sits at 7,371.

Condos, townhomes, and villas

  • Sales of condos, townhomes, and villas increased to 148 during the week of August 25, from 120 the week prior
  • The median price of condos, townhomes, and villas increased to $310,750 a change of 11.5%
  • The number of condo, townhome, and villa foreclosure transactions decreased to 0 from 1 the week prior
  • The number of condo, townhome and villa short-sale transactions remains constant at 0
  • Condo inventory decreased by 8, and now sits at 3,657.

Want to understand the Orlando market like a pro? Full report offers a deeper dive: https://www.orlandorealtors.org/mmq

https://www.orlandorealtors.org/mmq

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Florida – Where Americans Really Want to Live

August 29th, 2024 by tisner


Americans value sunshine, safety and affordability, a new study shows. Of course, Florida tops the list of most desirable states to live.

NEW YORK – Many Americans seem to have contradictory and confused feelings about the places they call home.

Although 73% of Americans say they like where they live, 59% of Americans still get frustrated with their home city or state and 43% are embarrassed by their state, according to a new study from Clever Real Estate.

Out of the 1,000 Americans asked about where they do and don’t want to live, nearly six in 10 live where they’ve always lived. However, approximately 84% of respondents said they could be convinced to move to another city or state.

Many Americans want to pursue a better life elsewhere, but 50% say they can’t afford to move to a more desirable location.

Safety, sunshine and affordability

Where do Americans dream of moving? The answers were pretty simple. When asked what makes a place desirable, 68% of Americans cite low crime, 66% say affordable living and housing costs, 62% desire good weather, and 52% want low taxes.

Those preferences were also consistent in reverse. When asked what makes places undesirable, 73% don’t want high crime, 65% complain about high cost of living, 62% say high taxes, and 54% cite bad weather and pollution.

Tampa is the most desirable city

With Americans wanting to live somewhere affordable, sunny, and safe, it’s not surprising that Tampa, Florida, was ranked the most desirable city in America.

Tampa has year-round warm weather, no state taxes, a low crime rate, and greater affordability than other Florida cities. Its median home value of $361,177 is cheaper than hot spots Orlando and Miami, where median home costs are $379,039 and $441,339, respectively.

Locals say quality of life appeals to potential residents, too.

“From the rich diversity and incredible restaurants to our beautiful waterfront with boating attractions just steps outside our door, there’s something for everyone,” says Kirstin Albert of the Tampa Convention Center. “It is such a friendly and welcoming community. Not to mention our year-round summer weather.”

Charlotte, North Carolina, came in second, followed by Virginia Beach, Virginia, Nashville, Tennessee, and Orlando, Florida.

Americans chose Honolulu as their top midsize city, which may mean many respondents forgot or were unaware of the price of living in paradise.

Honolulu is one of the most expensive cities in the U.S. Basic goods and services cost much more than in other states. Real Estate Witch says the city’s median home value of $794,000 is more than twice the national average.

After Honolulu, the most desirable midsize cities are Colorado Springs, Colorado; Charleston, South Carolina; Cape Coral, Florida; and Palm Bay, Florida.

Florida is the most desirable state

The Sunshine State is home to one-quarter of the 10 most desirable large metros and the 10 most desirable midsize metros, so it’s no wonder it ranks highly among the most desirable states.

More than one-third of respondents ranked Florida among their top five states, placing it ahead of California at number two. The two states have some similarities, but Florida has the edge thanks to its low tax burden and lower cost of living. California also ranks as the worst state to live.

Texas, Hawaii, and New York round out the top five.

Although California, Texas, and New York are considered desirable, no individual cities in these states topped the list. On the contrary, Americans consider some of New York and California’s largest cities the least desirable places to live.

Where Americans don’t want to live

One-third of respondents ranked the District of Columbia as one of the five worst cities to live in the U.S. New York City was a close second, followed by San Francisco, Chicago, and Detroit.

Los Angeles came in as the sixth-least desirable city, meaning California, the second-most desirable state, has two of the six least desirable cities.

Because Americans want to live in safe areas, the three least desirable cities – Washington D.C., New York City, and San Francisco – have higher-than-average crime rates. They’re also among the most expensive cities in America, with home values far exceeding the national average.

High living costs also impacted the list of least desirable states. California, where everything is more expensive, from gasoline to real estate commission, ranked last, followed by New York, Alaska, Alabama, and Texas.

Southern states make up half of the 10 least desirable list despite respondents saying that the friendliest people tend to live there. Americans named Hawaii the nicest state, followed by Tennessee, Texas, South Carolina, and Florida.

The kindest cities also had a distinctly Southern flavor: Nashville ranked first, followed by Charlotte, Virginia Beach, Atlanta, and Austin.

On the other end of the spectrum, respondents ranked New York the rudest city and state, the city and state with the most annoying residents, the state with the second-most crazy residents, the second-most pretentious state, and the second-ugliest city.

However, New York edged out New Orleans as the city with the best food. New Yorkers may be rude, pretentious, and annoying, but at least they eat well.

By Franklin Schneider
© Copyright 2024, The Courier-Times, all rights reserved.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Orlando State of the Market July 2024

August 16th, 2024 by tisner

New Orlando Regional REALTOR® Association data shows market continues to stabilize for homebuyers as inventory increases for seventh month in a row.

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 issue facing buyers in ORRA’s new survey.
  • Inventory for July was recorded at 11,158, up 3.4% from June when inventory was recorded at 10,796. This is the seventh month in a row inventory has risen. The last time inventory was this high was November 2015.
    • Inventory in July 2024 was 95.1% higher than in July 2023.
  • Overall sales rose 2.0% from June to July. There were 2,652 sales in July, up from 2,601 sales in June.
  • Pending sales rose by 1.5%, with 3,940 in June and 3,999 in July.
  • New listings fell 1.8% from June to July, with 4,067 new homes on the market in July, compared to 4,143 in June.
  • Homes spent an average of 55 days on the market (DOM) in July – up from 54 in June. This is 41.0% higher than July 2023 when homes spent an average of 39 days on the market.
    • 72% of survey respondents reported that most homes are moving from sale to pending in 21+ days, up significantly from last year.
  • “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. We continued to see an increase in inventory and sales as the Orlando housing market continues to stabilize,” said Rose Kemp, Orlando Regional REALTOR® Association President. “Interest rates are still holding steady in the mid-upper 6.0% range. The current market conditions offer more options for buyers along with new potential negotiating opportunities. Realtors are key to the success of a buyer and seller transaction.”


Market Snapshot

  • Interest rates fell from 6.7% in June to 6.6% in July.
  • Pending sales rose 1.5%, with 3,940 in June and 3,999 in July.
  • 25 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in July. This is the same number of distressed homes that sold in June.

Inventory

  • Orlando area inventory rose 3.4% from June to July. Inventory in June was 10,796, and inventory in July was 11,158.
  • The supply of homes rose to 4.21 months in July, up 1.4% from 4.15 months in June. A balanced market is six months of supply.
  • The number of new listings decreased from June to July by 1.8% – from 4,143 homes to 4,067 homes.

You can find ORRA’s full State of the Market Report for May here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Orlando State of the Market June 2024

July 17th, 2024 by tisner

New Orlando Regional REALTOR® Association data shows record median home price for second time this year.

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 streak of rising sales.
  • June’s interest rate was recorded at 6.7%, up from 6.6% in May.
  • Pending sales fell by 8.3%, with 4,298 in May and 3,940 in June.
  • New listings fell 8.4% from May to June, with 4,143 new homes on the market in June, compared to 4,521 in May.
  • Homes spent an average of 54 days on the market (DOM) in June – the same as in May and April.
  • “Demand in the Orlando market is holding strong this summer, as evidenced by yet another record-breaking median home price in June,” said Rose Kemp, Orlando Regional REALTOR® Association President. “The good news for buyers is that we are continuing to see inventory rise. More inventory gives buyers more options and more power to negotiate with the seller in the home-buying process.”

Market Snapshot

  • Interest rates rose from 6.6% in May to 6.7% in June.
  • Pending sales fell 8.3%, with 4,298 in May and 3,940 in June.
  • 25 distressed homes (bank-owned properties and short sales) accounted for 1.0% of all home sales in June. That represents a 47.1% increase from May when 17 distressed homes sold.

Inventory

  • Orlando area inventory increased 5.0% from May to June. Inventory in May was 10,282, and inventory in June was 10,796.
  • The supply of homes rose to 4.15 months in June, up 17.4% from 3.53 months in May. A balanced market is six months of supply.
  • The number of new listings decreased from May to June by 8.4% – from 4,521 homes to 4,143 homes.

You can find ORRA’s full State of the Market Report for May here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Orlando State of the Market May 2024

June 18th, 2024 by tisner

New Orlando Regional REALTOR® Association data shows 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 area.
  • May’s interest rate was recorded at 6.6%, down from 6.9% in April.
  • Pending sales fell by 1.8%, with 4,379 in April and 4,298 in May.
  • New listings rose 6.9% from April to May, with 4,521 new homes on the market in May, compared to 4,230 in April.
  • Homes spent an average of 54 days on the market (DOM) in May – the same as in April.
  • “Although May’s inventory did show a slight increase, it’s important to remember that our market is still very active. While there may be a few more options available compared to recent months, the high sales volume means homes are still moving quickly,” said Rose Kemp, Orlando Regional REALTOR® Association President. “With inventory levels remaining below the six months of supply that is considered a balanced market, buyers should be prepared to act fast if they find a home that meets their needs. The past four months have seen consistent sales growth, and I expect that trend to continue into the summer, making inventory a key factor for buyers.”

Market Snapshot

  • Interest rates fell from 6.9% in April to 6.6% in May.
  • Pending sales fell 1.8%, with 4,379 in April and 4,298 in May.
  • 17 distressed homes (bank-owned properties and short sales) accounted for 0.6% of all home sales in May. That represents a 34.6% decrease from April when 26 distressed homes sold.

Inventory

  • Orlando area inventory increased 9.7% from April to May. Inventory in April was 9,376, and inventory in May was 10,282.
  • The supply of homes rose to 3.53 months in May, up 4.0% from 3.40 months in April. A balanced market is six months of supply.
  • The number of new listings increased from April to May by 6.9% – from 4,230 homes to 4,521 homes.

You can find ORRA’s full State of the Market Report for May here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Orlando State of the Market April 2024

May 24th, 2024 by tisner

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 inventory was recorded at 8,971. This is the fourth month in a row inventory has risen.
  • Pending sales increased by 2.9%, with 4,257 in March and 4,379 in April.
  • New listings rose 2.6% from March to April, with 4,230 new homes on the market in April, compared to 4,124 in March.
  • Homes spent an average of 54 days on the market (DOM) in April – down from 58 in March.
  • “April’s median home price was recorded at $388,500,” said Rose Kemp, Orlando Regional REALTOR® Association President. ” We saw an increase in homes for sale, providing a wider selection for potential buyers. Despite the supply remaining slightly over three months, homes are selling quickly, indicating a strong demand. This demand is a positive indicator of market stability and is expected to continue through the next few months as families look to relocate during the summer season.”

Market Snapshot

  • Interest rates rose from 6.7% in March to 6.9% in April.
  • Pending sales rose 2.9%, with 4,257 in March and 4,379 in April.
  • 26 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in April. That represents a 13.0% increase from March when 23 distressed homes sold.

Inventory

  • Orlando area inventory increased 4.5% from March to April. Inventory in March was 8,971, and inventory in April was 9,376.
  • The supply of homes fell to 3.40 months in April, down 3.1% from 3.51 months in March. A balanced market is six months of supply.
  • The number of new listings increased from March to April by 2.6% – from 4,124 homes to 4,230 homes.

ORRA’s full State of the Market Report for April can be found here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Orlando State of the Market March 2024

April 24th, 2024 by tisner

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 4.4% from February when inventory was recorded at 8,589.
  • March’s interest rate was recorded at 6.7%, up slightly from 6.6% in February.
  • Homes spent an average of 58 days on the market (DOM) in March – up slightly from February.
  • “The busy spring season for the real estate market is in full swing,” said Rose Kemp, Orlando Regional REALTOR® Association President. “We’ve seen a steady increase in sales, median home price and inventory every month this year. Our median home price in March was very close to our peak from June 2022, so it will be interesting to see how these high prices affect the market in the coming months.”

Market Snapshot

  • Interest rates rose from 6.6% in February to 6.7% in March.
  • Pending sales rose 9.4%, with 3,891 in February and 4,257 in March.
  • 23 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in March. That represents an 8.0% decrease from February when 25 distressed homes sold.

Inventory

  • Orlando area inventory increased 4.4% from February to March. Inventory in February was 8,589, and inventory in March was 8,971.
  • The supply of homes fell to 3.51 months in March, down 11.3% from 3.95 months in February. A balanced market is six months of supply.
  • The number of new listings increased from February to March by 8.6% – from 3,799 homes to 4,124 homes.

ORRA’s full State of the Market Report for March can be found here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Teri Isner, CIPS, CRS, GRI
Keller Williams At-The-Lakes
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Celebration, Fl 34747

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