New Orlando Regional REALTOR® Association data shows break in nine-month streak of rising inventory!
State of the Market “We saw the end of a nine-month inventory increase in October as interest rates rose back into the 6.0s,” said Rose Kemp, President of the Orlando Regional REALTOR® Association. “While inventory has shifted, this still represents a significant improvement compared to last year, offering more opportunities for buyers. With the holidays approaching, we typically see a market cooldown, but it will be exciting to see how the rest of the year unfolds. Additionally, with the election period now over, its impact on market conditions will also be interesting to follow.”
The median home price for October was recorded at $388,990, up from $380,000 in September.
Overall sales decreased by 7.3% from September to October. There were 2,249 sales in September and 2,085 sales in October.
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.
17 distressed homes (bank-owned properties and short sales) accounted for 0.8% of all home sales in October – the same as in September.
New listings fell 7.6% fell 7.6% from September to October, with 3,260 new homes on the market in October, compared to 3,530 in September.
ORRA’s full State of the Market Report for September can be found here.
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.
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 October 27th, 2024 – November 2nd, 2024
Single-family existing homes
Sales of single-family homes increased to 493 during the week of October 27, from 440 the week prior
The median price of single family homes decreased to $415,000 a change of -3.3%
The number of single-family home foreclosure transactions increased to 5 from 3 the week prior
The number of single-family short-sale transactions remains constant at 0
Single-family inventory decreased by 73, and now sits at 7,678.
Condos, townhomes, and villas
Condos, townhomes, and villas
Condo inventory decreased by 58, and now sits at 3,735.
Sales of condos, townhomes, and villas increased to 132 during the week of October 27, from 98 the week prior
The median price of condos, townhomes, and villas decreased to $272,500 a change of -6.7%
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
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.
New Orlando Regional REALTOR® Association data shows highest inventory in nearly ten years.
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 slightly from 57 in August.
This is a 41.5% increase compared to September 2023 when homes spent an average of 41 days on the market.
The median home price for September was recorded at $380,000, down from $384,500 in August.
Overall sales decreased by 15.3% from August to September. There were 2,655 sales in August and 2,249 sales in September.
Pending sales fell by 1.9%, with 3,556 in August and 3,490 in September.
New listings fell 8.5% from August to September, with 3,530 new homes on the market in September, compared to 3,856 in August.
“Lower interest rates and rising inventory levels are setting the stage for a balanced Orlando housing market as we enter Q4,” said Rose Kemp, President of the Orlando Regional REALTOR® Association. “With the Federal Reserve’s recent interest rate cuts and a significant increase in available homes, many buyers who have been waiting on the sidelines are now finding opportunities to achieve the American dream of homeownership.”
Market Snapshot
Interest rates fell from 6.1% in August to 5.9% in September.
Pending sales fell 1.9%, with 3,556 in August and 3,490 in September.
17 distressed homes (bank-owned properties and short sales) accounted for 0.8% of all home sales in September. This is a 54.5% increase from August, when 11 distressed homes sold.
Inventory
Orlando area inventory rose 0.4% from August to September. Inventory in August was 11,511, and inventory in September was 11,560.
The supply of homes rose to 5.14 months in September, up 18.6% from 4.34 months in August. A balanced market is six months of supply.
This is the highest supply of homes has been since January 2015.
The number of new listings decreased from August to September by 8.5% – from 3.856 homes to 3,530 homes.
ORRA’s full State of the Market Report for September can be found here.
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.
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 October 6th, 2024 – October 12th, 2024
Single-family existing homes
Sales of single-family homes decreased to 142 during the week of October 06, from 452 the week prior
The median price of single family homes increased to $439,950 a change of 3.5%
The number of single-family home foreclosure transactions decreased to 2 from 5 the week prior
The number of single-family short-sale transactions decreased to 0 from 3 the week prior
Single-family inventory decreased by 119, and now sits at 7,542.
Condos, townhomes, and villas
Sales of condos, townhomes, and villas decreased to 42 during the week of October 06, from 123 the week prior
The median price of condos, townhomes, and villas decreased to $282,500 a change of -5.8%
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 decreased by 13, and now sits at 3,720.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
