The Orlando Regional REALTOR Association dropped its newest State of the Market update.
During the month of March 2023, the Orlando housing market inventory experienced a significant increase compared to the same month last year. In addition, the median price increased while sales decreased. A total of 2,936 homes sold during the month, a tally that is 28% less than the 4,100 sales in the same month during 2022.
The median price of an Orlando home sold in March 2023 was $365,000 which is a 1% increase 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 increased by 104% compared to the last month, there are 9% less properties available. There are currently 5,052 homes listed for sale.
