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Orlando State of the Market November 2024

December 16th, 2024 by tisner

State of the Market

  • “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.

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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.

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