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.

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.

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.

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.

Things To Do Orlando:  A Petrified Forest 2016 gives you a great activity this weekend!

We have pulled out all the stops this year. With 2 outdoor scare trails, bigger and better! All new each year with more intensity and creativity than ever. In our “Front Yard” enjoy impromptu characters, live bands and entertainment on stage, vendors, great food, and as always, watching the unsuspecting guests run out of the trails.

WHEN:  Saturday, October 21, 2016 @ 7:30pm – 11pm
WHERE:  Petrified Forest
COST: Ticket Prices Vary

Visit the Event Website for more details.

Information courtesy of Orlando Real Estate Expert Teri Isner and the Orlando Avenue Top Team.

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.

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Things To Do Orlando:  Crayola Experience’s Screamin’ Green Hauntoween is great activity for the whole family!

Spooky and colorful family fun awaits during Screamin’ Green Hauntoween at Crayola Experience. In addition to 26 hands-on attractions you can create monster-rific crafts, snap character photos, go on a themed scavenger hunt and even trick-or-treat throughout the attraction.

WHEN:  Saturday, October 15,l 2016
WHERE:  Crayola Experience
COST:  General Admission: $22.99 + tax per person. Annual Passes: $29.99 + tax per person

Visit the Event Website for more details.

Information courtesy of Orlando Real Estate Expert Teri Isner and the Orlando Avenue Top Team.

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.

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Things To Do Orlando:  43rd Annual Winter Park Autumn Art Festival offers great entertainment this weekend!

More than 40,000 people attend this free juried art show held in Central Park that features work by outstanding Florida artists. The event also includes live entertainment and food provided by local restaurants. Children’s art workshops are offered.

WHEN:  Saturday, October 8, 2016 – all day
WHERE:  Central Park in Downtown Winter Park
COST: FREE

Visit the Event Website for more details.

Information courtesy of Orlando Real Estate Expert Teri Isner and the Orlando Avenue Top Team.

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.

Get Orlando Daily News delivered to your inbox! Subscribe here!

According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment.

The BH&J Index is a quarterly report that attempts to answer the question:

In today’s housing market, is it better to rent or buy a home?

The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.” 

Ken Johnson, Ph.D., Real Estate Economist & Professor at Florida Atlantic University, and one of the index’s authors explains that:

“Housing prices, in general, continue to slow and when considered in light of the recent trends in the Buy vs. Rent Index signal that ownership remains an excellent investment for the majority of Americans.”

While 15 of the 23 metropolitan markets examined moved further into buy territory since last quarter, Dallas, Denver, and Houston are three of the major cities that are currently deep into rent territory. In these three markets, it is estimated that renting will top homeownership 7 out of 10 times.

Eli Beracha, Ph.D., Assistant Professor in the T&S Hollo School of Real Estate at FIU,believes that, in these three markets, the “strong odds in favor of renting to create more wealth should begin to have an impact on the demand for home ownership and from that, impact property prices in these areas.”

Simply put, home prices in these areas will begin to return to more normal levels once residents realize that renting may be a better choice, therefore bringing home affordability back as well.

Bottom Line

The majority of the country is strongly in buy territory. Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year. Protect yourself from rising rents by locking in your housing cost with a mortgage payment now.

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.

Get Orlando Daily News delivered to your inbox! Subscribe here!

To Find Out More About the Study: The BH&J Index and other FAU real estate activities are sponsored by Investments Limited of Boca Raton. The BH&J Index is published quarterly and is available online at http://business.fau.edu/buyvsrent.

Things To Do Orlando:  Food & Wine Weekends at Waldorf Astoria is a celebration of fine wine and the culinary arts… the perfect complement to the Epcot® Food & Wine Festival, for the serious epicurean.

Designed for those who truly savor the artistry of fine culinary preparations – each plate a canvas for delight and each vintage an invitation for couples to indulge in each other – we invite you to experience Food & Wine Weekends at Waldorf Astoria Orlando. Come for an evening, or immerse yourself in a weekend retreat.

Food & Wine Weekends events will be held from September 16 through November 13, 2016.

Weekend Highlights

The Taste of Bull & Bear
Friday and Saturday, 6pm – 10pm, Bull & Bear
Experience an exclusive tasting four-course menu comprised of exquisite food and wine pairings – prepared by the illustrious chefs of Waldorf Astoria Orlando. Reservations recommended, please refer to, “The Taste of Bull & Bear,” when making a reservation. Call 407-597-5413. ($)
View Dinner and Wine Pairing Menu

The Taste of La Luce
Friday and Saturday, 6pm – 11pm, La Luce at Hilton Orlando Bonnet Creek
From the kitchen of La Luce at Hilton Orlando Bonnet Creek, enjoy an exclusive four-course menu with recommended wine pairing featuring the best of La Luce. Menu may be paired with wine flights for an additional fee. Reservations recommended, please refer to, “The Taste of La Luce,” when making a reservation. Call 407-597-3600. ($)

The Art of Sushi Pairing
Friday and Saturday, 5pm – 10pm, Zeta Bar & Sushi Lounge at Hilton Orlando Bonnet Creek.
Guests can enjoy an exciting epicurean journey at Zeta Bar & Sushi Lounge, exploring perfect pairings of sake or beer with favorite sushi dishes. ($)

Cocktail Creations
Saturday 4:30pm – 5:30pm, Peacock Alley
Muddle, mix and sample! Guests partake in an interactive experience creating their very own specialty cocktails.

Sip, Swirl & Savor – A Wine Tasting Experience
Friday and Saturday, 5pm – 7pm, outside of La Luce at Hilton Orlando Bonnet Creek
Before dinner, sample an array of wines which will be offered as a complement to The Taste of La Luce dinner menu. Regardless of your wine knowledge, this is a wonderful opportunity to learn more from an experienced sommelier. Select Weekends.

Bar du Chocolat and Champagne Tasting
Friday and Saturday, 6:30pm – 10:30pm, Peacock Alley
A decadent selection of à la carte chocolate treats hand-crafted by Waldorf Astoria Orlando’s world-class pastry team. A selection of champagnes are available, as well. Highlights include chocolate truffles, exotic chocolate cakes and bowls of beautiful bon-bons. ($) Select Weekends.

Macaron Bar
Friday & Saturday, 6pm – 10pm, MYTH Bar at Hilton Orlando Bonnet Creek
Whether indulging in a pre or post-dinner treat, guest can visit the Macaron Bar to try an assortment of flavors, hand-made by the resort’s world-class pastry team. ($) Select Weekends.

Craft Beer Experience
Friday & Saturday, MYTH Bar at Hilton Orlando Bonnet Creek
The resort has teamed up with local breweries to bring this interactive experience to guests. Enjoy a selection of craft beers each weekend. Select Weekends.

Live Entertainment
Nightly, Peacock Alley at Waldorf Astoria Orlando

Royal Tea – A Waldorf Astoria Tradition
Sundays, 2pm – 4pm, Peacock Alley
Treasure time together as you savor finely-prepared tea sandwiches and house-made pastries, while sipping premium hot tea and listening to live piano music. Add a glass of champagne for a “Grand Royal Tea.” Reservations are required 24 hours in advance. Please see Concierge or call 407-597-5450. ($)

Astoria After Dark
Friday and Saturday, 6pm – 10pm, WA Kids Club
Adults are not the only ones to have fun. The WA Kids Club is offering a nightly children’s program including dinner and a non-stop roster of fun activities – providing parents some “adult time” in which to experience Food & Wine Weekend activities. ($)

Waldorf Astoria® Spa Tuscany Wine Special
Daily, Waldorf Astoria Spa
Experience the powerful antioxidants of red wine powder, red grape seed extract, crushed grape seeds and pure grape seed oil as you indulge in an extravagant Tuscany Wine Wrap or Pedicure. To book an appointment at Waldorf Astoria Spa please call 407-597-5360. ($)

All guests of Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek are invited to enjoy Food & Wine Weekend experiences.

WHEN:  Friday, September 30, 2106
WHERE:  Waldorf Astoria
COST:  Varies, packages are available

Visit the Event Website for more details.

Information courtesy of Orlando Real Estate Expert Teri Isner and the Orlando Avenue Top Team.

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.

Get Orlando Daily News delivered to your inbox! Subscribe here!

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Whenever there is talk about an improving housing market, some begin to show concern that we may be headed toward another housing bubble that will be followed by a crash similar to the one we saw last decade.

Here are five data points that show the housing market will continue to recover, and that a new housing crisis is not about to take shape.

1) Mortgage availability is increasing, but is nowhere near the levels we saw in 2004-2006.

A buyer’s chances of being approved for a mortgage have increased over the last three years; That’s good news for the market. This is not a precursor to another challenge, as many experts maintain that it is still too difficult for many buyers to attain house financing.

As Jonathan Smoke, the Chief Economist of realtor.com, recently explained:

“The havoc during the last cycle was the result…of speculation fueled by loose credit. That’s the exact opposite of what we have today.”

2) The Housing Affordability Index, which measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home, based on the most recent price and income data. The current index shows that it is more affordable to buy a home today than at any other time between 1990 and 2008. With median incomes finally beginning to rise, houses should continue to remain affordable and housing demand should remain strong.

3) Home prices are well within historic norms. Prices have increased substantially over the last several years; However, those increases followed the housing crash of 2008 and national prices are still not back to 2006 levels. If there were no bubble (and subsequent bust), today’s prices would actually be lower than if they were measured by historic appreciation levels from 1987-1999.

4) Demand for housing, as measured by new household formations, is growing. The Urban Land Institute projects that 5.95 million new households will be formed over the next three years. Even if the homeownership rate drops to 60%, that would be over 3.5 million new homeowners entering the market.

5) New home starts are finally beginning to increase. This helps eliminate the number one challenge in the industry – lack of inventory. And it does so in two ways:

1. Some first time buyers will, in fact, purchase a newly constructed home.
2. Many current homeowners will move-up (or move-down) to a new construction and then put their current home on the market.

This means that there will be an increase in both new construction and existing home inventories.

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.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Being a homeowner means that your home is yours – even the things that need fixing. Is a faucet leaking? Are floor boards squeaky? Is a light-switch not working? Those issues are all yours to tackle. But what projects can you do yourself and what ones require the help of a trained professional? Taking on projects yourself can save you time and money. But taking on the wrong projects can lead to unending amounts of stress or end up costing you more money than if you had hired someone in the first place. NAR’s consumer website, HouseLogic.com, lets you know which projects need a seasoned hand and a beginner can undertake.

Take a look at how many families decided to become homeowners in our local market in August…

Orlando Real Estate Sales Statistics

Orange County Real Estate Sales Statistics – August 2016

Orange County home sales increased by 2.08%. Prices increased with the average sales price up 9.74% and the median price increased by 11.28%.  Market times decreased by 10 days compared to August 2015.

Osceola County Real Estate Sales Statistics – August 2016

Osceola County home sales decreased by 4.92%. Prices increased with the average sales price up 8.65% and the median price increased by 10.12%.  Market times decreased by 8 days compared to August 2015.

Seminole County Real Estate Sales Statistics – August 2016

Seminole County home sales increased by 5.92%. Prices increased with the average sales price up 11.9% and the median price increased by 15.49%.  Market times decreased by 5 days compared to August 2015.

Lake County Real Estate Sales Statistics – August 2016

Residential sales in Lake County home sales increased by 15.37%. Prices increased with the average sales price up 14.19% and the median price increased by 13.12%.  Market times decreased by 12 days compared to August 2015.

Polk County Real Estate Sales Statistics – August 2016

Polk County home sales increased by 17.2%. Prices increased with the average sales price up 10.55% and the median price increased by 12.98%.  Market times decreased by 21 days compared to August 2015.

Search all Orlando area homes for sale here!

Things To Do Orlando:  Global Peace Film Festival celebrates the art of film!

The Global Peace Film Festival, established in 2003, uses the power of the moving image to further the cause of peace on earth. From the outset, the GPFF envisioned “peace” not as the absence of conflict but as a framework for channeling, processing and resolving conflict through respectful and non-violent means. People of good faith have real differences that deserve to be discussed, debated and contested.  GPFF works to connect expression – artistic, political, social and personal – to positive, respectful vehicles for action and change. The festival program is carefully curated to create a place for open dialogue, using the films as catalysts for change.

WHEN:  Friday, September 23, 2016
WHERE:  Orlando & Winter Park
COST:   Cost varies by event

Visit the Event Website for more details.

Information courtesy of Orlando Real Estate Expert Teri Isner and the Orlando Avenue Top Team.

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.

Get Orlando Daily News delivered to your inbox! Subscribe here!