New Orlando Regional REALTOR® Association data shows The median home price reached a new all-time high in 2024, increasing 3.9% from 2023.
State of the Market – “As interest rates rose throughout 2023 from historic lows during the pandemic, many buyers and sellers waited on the sidelines, hoping for a drop. In 2024, these buyers and sellers accepted the current rates and re-entered the market to secure a home,” said Lawrence Bellido, 2025 President of the Orlando Regional REALTOR® Association. “The market is now much more stable and balanced than in previous years. In 2025, I expect sales to increase. For anyone hoping to secure a home this year, now is the time to connect with a local REALTOR® and a loan officer to make these dreams a reality.”
– The overall median home price in 2024 was recorded at $385,000, an all-time high and increase of 3.9% compared to 2023 when the overall median home price was recorded at $370,500. 2023 previously held the record for highest overall median home price. For further comparison, the overall median home price in 2022 was $365,000.
– Overall sales in 2024 decreased by 7.1% with a total of 28,321 sales. Overall sales in 2023 were recorded at 30,499. Single family home sales decreased in 2024 by 5.3% for a total of 22,216 sales compared to 23,464 sales in 2023. Condo sales decreased in 2024 by 17.9% for a total of 3,290 sales compared to 4,007 sales in 2023. Townhome sales decreased by 7.0% in 2024 for a total of 2,815 sales compared to 3,028 in 2023.
– At the start of the year, inventory was recorded at 8,217 – 4.78 months of supply. Supply continued to rise in the following months. In November 2024, inventory was recorded at 11,604 – 6.43 months of supply. This was the first time since February 2011 that the Orlando area witnessed a balanced market. (The real estate market is considered balanced when there is 6 months of supply.) Closing the year, inventory was recorded at 10,049 in December – 4.67 months of supply.
– Interest rates decreased from 6.7% in November to 6.5% in December.
– New listings dropped, with 2,510 new listings in December, compared to 3,185 new listings in November.
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 December 29th, 2024 – January 4th, 2025
Single-family existing homes
Sales of single-family homes increased to 278 during the week of December 29, from 266 the week prior
The median price of single family homes decreased to $400,000 a change of -3.6%
The number of single-family home foreclosure transactions decreased to 1 from 4 the week prior
The number of single-family short-sale transactions remains constant at 0
Single-family inventory decreased by 143, and now sits at 7,337
Condos, townhomes, and villas
Sales of condos, townhomes, and villas decreased to 92 during the week of December 29, from 95 the week prior
The median price of condos, townhomes, and villas increased to $295,000 a change of 15.0%
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 decreased by 117, and now sits at 3,691
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.
“We have watched our market slowly settle over the last 12 months, and we now have what we consider a ‘balanced market’ for the first time in many years,” said Rose Kemp, president of the Orlando Regional REALTOR® Association. “As we near the end of 2024, I expect sales to cool as families focus on the holiday season, then ramp back up as we move toward springtime. Now is the perfect time to connect with your local REALTOR® to discuss your real estate goals for 2025. Start planning to take advantage of this balanced market’s exciting opportunities for buying or selling in the year ahead.”
The median home price for November was recorded at $380,000, down from $388,990 in October.
Overall sales decreased by 13.4% from October to November. There were 2,085 sales in October and 1,805 sales in November.
Inventory for November was recorded at 11,604, up 2.2% from October when inventory was recorded at 11,357.
November’s interest rate was recorded at 6.7%, up from 6.4% in October
16 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in November. This is a 5.9% decrease from October, when 17 distressed homes sold.
New listings fell 2.3% from October to November, with 3,185 new homes on the market in November, compared to 3,260 in October.
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 November 24th, 2024 – November 30th, 2024
Single-family existing homes
Sales of single-family homes decreased to 250 during the week of November 24, from 365 the week prior
The median price of single family homes increased to $435,000 a change of 1.2%
The number of single-family home foreclosure transactions increased to 3 from 1 the week prior
The number of single-family short-sale transactions remains constant at 0
Single-family inventory decreased by 152, and now sits at 7,694.
Condos, townhomes, and villas
Sales of condos, townhomes, and villas decreased to 70 during the week of November 24, from 102 the week prior
The median price of condos, townhomes, and villas remains constant at $263,000
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 91, and now sits at 3,787.
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 November 17th, 2024 – November 23rd, 2024
Single-family existing homes
Sales of single-family homes increased to 365 during the week of November 17, from 305 the week prior
The median price of single family homes decreased to $430,000 a change of -6.0%
The number of single-family home foreclosure transactions decreased to 1 from 2 the week prior
The number of single-family short-sale transactions remains constant at 0
Single-family inventory increased by 3, and now sits at 7,846.
Condos, townhomes, and villas
Sales of condos, townhomes, and villas increased to 102 during the week of November 17, from 83 the week prior
The median price of condos, townhomes, and villas decreased to $263,000 a change of -7.7%
The number of condo, townhome, and villa foreclosure transactions remains constant at 1
The number of condo, townhome and villa short-sale transactions remains constant at 0
Condo inventory increased by 43, and now sits at 3,878.
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 November 10th, 2024 – November 16th, 2024
Single-family existing homes
Sales of single-family homes decreased to 305 during the week of November 10, from 329 the week prior
The median price of single family homes increased to $457,500 a change of 8.9%
The number of single-family home foreclosure transactions increased to 2 from 1 the week prior
The number of single-family short-sale transactions decreased to 0 from 1 the week prior
Single-family inventory increased by 24, and now sits at 7,843.
Condos, townhomes, and villas
Sales of condos, townhomes, and villas decreased to 83 during the week of November 10, from 98 the week prior
The median price of condos, townhomes, and villas increased to $285,000 a change of 9.6%
The number of condo, townhome, and villa foreclosure transactions remains constant at 1
The number of condo, townhome and villa short-sale transactions remains constant at 0
Condo inventory increased by 43, and now sits at 3,835.
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.
Many people turn to the “Foreclosures” section of online house hunts or newspaper ads. Sure, the price is a bargain, but there is normally a different process when purchasing a home that is in foreclosure. Consider these tips before heading to the auction or making an offer:
If the property is on the auction block, the bidder will likely need the full purchase amount in cash. The lender is looking to recoup as much from the defaulted loan as possible, which does not allow time for the financing process.
Most foreclosures have been unoccupied and will be affected by that. The new owner will need to be ready to put in some work and cash to bring it up to code/living conditions.
Some states allow redemption to the homeowner, and HUD defines this as “…a period after [the] home has already been sold at a foreclosure sale when [a homeowner] can still reclaim [their] home.”
Because a foreclosed property is sold “as is,” the buyer will not receive any disclosures, meaning, a home inspection is a must! Depending on who owns the property will make a difference in how much time the buyer has to complete the inspection.
On the other hand, if the property is REO (real estate owned), the buyer will be able to go through the home-buying process in the usual way and have time to secure financing for the purchase.
An REO will be sold as-is just like an auctioned property, and all repairs will have to be done by the new owner–there are no repair requests or contingencies granted.
For buyers who are new to the foreclosure-purchase game, going through a bank to buy the property is their best bet versus bidding at an auction.
For distressed properties, it is recommended that the interested party have a title search performed. Buying a foreclosure takes long enough, and this will help remove any roadblocks.
For foreclosure-hunting convenience, realtor.com® has a search page specifically for foreclosures! Municipality offices also publish notices on tax foreclosures, and if the funding is available,pre-foreclosures and short sales are other great property bargains. Remember to contact a Realtor® that is experienced in distressed sales. Their knowledge and expertise can make a drawn-out process go smoothly!
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.
When you have started considering buying a new home, the first thing you will need to work on is a down payment. While many lenders offer different programs with variable down payment amounts, saving as much as you can is necessary. Check out these tips and start saving now!
It is important to know, realistically, how much house you can afford, and start shooting for a 20% down payment of that amount.
Turn your $4.50-per-day cup of coffee into $90/month in the piggy bank. Add up similar purchases, decide what you can live without, and move that money (set up automatic transfers) every day from your checking to a hands-off savings account.
Sign up with your employer to deposit a portion of your pay into a down payment savings account. Most of the time, if you do not see it, you do not miss it.
If a pay raise comes your way, save that unexpected pay: stay on your old budget, and have the difference in old and new pay direct deposited into your down payment account.
When non-salary payments such as bonuses or even a tax refund come in, sock them away and give your savings a boost.
Did you know that family members can gift money towards your down payment? Make certain you document these gifts correctly for your lender and the IRS. Mortgage Reports shares more information about down payment gifts.
A part-time job may provide enough each week to add to your down payment savings. Your well-being is important, however, so do not go into a second job unless you are certain it will be a benefit.
If you have investments in stocks or bonds, plan on liquidating those assets when the time comes to purchase your house. Make sure you document these sales.
You can always borrow from your 401k or IRA, but make sure you will not have to pay penalties. Talk with your account holder before making any withdrawals.
Do not let that 20% ideal down payment stop you before you even get started. However, if it seems impossible for you, do your research. There are many first-time buyer programs available, as well as lower-than-20% down payment options through the USDA, the VA, and state-specific programs. Learn more about low down payment guidelines and opportunities to help you get started. Planning will help you keep your eyes on the prize of homeownership!
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.
When buying a home various factors come to mind immediately-location, price range, home style, home condition, wish list for the interior and exterior, number of bedrooms and bathrooms desired; just to name a few. One component which can be overlooked by some but is extremely essential to many would be the local school system in the neighborhood. I highly value my communities’ school system.
Studies have found that home buyers would give up one aspect of their home to have their children attend a ‘better’ school district; this speaks volumes to how important education is for parents’. For some parents there are alternatives such as private schools but that is not the case for many. Even if buyers don’t have or plan to have school-age children in the house, the quality of nearby schools can have an impact on how much you pay, and how much a home sells for down the line.
In the past year Orange county public schools has succeeded in the improvement to maintain outstanding schools for all of our children. Through strategic planning and organizational development our schools continue to advance! Good local schools are amongst us in high numbers and will provide our children with the learning and education they should receive but with the type we wish for them to obtain as well.
For additional information on our school systems please visit Florida Department of Education.
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.
