The Orlando Regional REALTOR Association dropped its newest State of the Market update.
During the month of July 2023, the Orlando housing market inventory experienced a decrease compared to the same month last year. In addition, the median price stayed the same while sales decreased. A total of 2,852 homes sold during the month, a tally that is 14% less than the 3,309 sales in the same month during 2022.
The median price of an Orlando home sold in July 2023 was $380,000 which is a 0% decrease compared to the same month last year.
The limited number of homes available for sale in Orlando is still a challenge for buyers compared to the same month in 2022. The number of homes on the market decreased by 12% compared to the last month. There are 5% more properties available. There are currently 5,720 homes listed for sale.
