The Orlando Regional REALTOR Association dropped its newest State of the Market update.
During the month of November 2022, 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 1,996 homes were sold during the month, a tally that is 46% less than the 3,664 sales in the same month during 2021.
The median price of an Orlando home sold in November 2022 was $360,000, which is a nine percent 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 2021, the number of homes on the market increased by 136%, compared to the last month there are only 1% more properties available. There are currently 7,197 homes listed for sale.
