State of the Market – Orlando | May 2023

The Orlando Regional REALTOR Association dropped its newest State of the Market update.

During the month of May 2023, the Orlando housing market inventory experienced an increase compared to the same month last year. In addition, the median price equaled the same while sales decreased. A total of 3,150 homes sold during the month, a tally that is 20% less than the 3,946 sales in the same month during 2022.

The median price of an Orlando home sold in May 2023 was $378,000 which is a 1% 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 increased by 34% over last year, and the same as last month. There are currently 5,149 homes listed for sale.