Orlando Florida Home Sales
The Orlando Regional REALTOR Association dropped its newest State of the Market update.
Market Overview
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.
Median Home Price
The median price of an Orlando home sold in November 2022 was $360,000, which is a 9% increase compared to the same month last year. The rise in median price indicates that demand for homes in the Orlando area remains strong, despite the slowdown in sales.
Inventory of Homes for Sale
The limited number of homes available for sale in Orlando remains 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.