Orlando Florida Home Sales
Welcome to your March update on the Greater Orlando housing market. In this edition of Orlando Florida Home Sales March 2024, we examine rising prices, growing inventory, and a year-over-year dip in sales activity.
March 2024 Sales Summary
A total of 2,559 homes were sold in March 2024—a 13% decline from the 2,936 homes sold in March 2023. Despite the drop, month-over-month sales momentum was building, setting the stage for a stronger spring season.
Median Home Price
The median home price in March reached $386,500, up 6% compared to March 2023. This rise in price reflects sustained buyer demand despite affordability challenges and higher mortgage rates.
Inventory of Homes for Sale
Inventory continued to climb, with 8,971 homes on the market in March 2024—a 4% increase from February and a significant 78% increase compared to the same time last year. More options are becoming available for buyers, though competition remains active in many areas.
Buyer Considerations
While inventory is up, it remains below levels needed for a fully balanced market. Buyers still face challenges, especially in popular neighborhoods. Actively priced and well-presented homes are continuing to move quickly.
ORRA’s Complete Market Report
For a full breakdown of current and historical data, check out ORRA’s State of the Market Report, which includes 13 months of data and archives dating back five years.