Orlando Housing Market Report Video – March 2017

Sales activity versus available inventory drive Orlando’s supply of homes to its lowest point since 2013

Buyer activity during the month of March pushed the supply of homes available for purchase in Orlando to just 2.48 months’ worth, the lowest since May of 2013 and swinging the market pendulum further towards favoring sellers. Housing economists consider six months of supply to indicate a market that is balanced between buyers and sellers.

“Buyers have turned out in force for the start of Orlando’s traditional spring/summer buying season, enough to drive sales up by nearly 40 percent compared to last month,” says Orlando Regional REALTOR® Association President Bruce Elliott, Regal R.E. Professionals LLC. “The health of Orlando’s economy and job market are significant factors in the jump in sales, as a sense of urgency among buyers trying to beat an anticipated increase in mortgage rates.”

Orlando Housing Market Report September 2016

Orlando home sales increase 3 percent as median price continues upward march and climbs 12 percent

The median price of Orlando homes rose 12 percent year-over-year in September, while sales increased by 3 percent. The supply of homes available for purchase in the Orlando area slid downward by 10 percent.

“However, a glimmer of hope lies in the increase of “normal” sales that entered the inventory in September as new listings,” continues Lazenby. “While new listings of foreclosures and short sales are plummeting as these sales types disappear from the market, new listings of “normal” sales are up more than 16 percent. REALTORS® are encouraged to see that more traditional homeowners are realizing it is an opportune time to sell and are putting their properties on the market.

Orlando Housing Market Report Video – August 2016

Orlando home sales jump 7 percent; median price rises 14 percent as inventory continues downward slide

Sales of homes in Orlando experienced a year-over-year increase of 7.32 percent for the month of August, reports the Orlando Regional REALTOR® Association. The jump occurred amid yet another double-digit decrease in inventory, which continues to contribute to the area’s sustained rise in median price.

“Despite a 10 percent drop in overall inventory, continued buyer demand drove Orlando home sales up by more than 7 percent and contributed to a 14 percent jump in median price between August 2015 and August 2016,” says Orlando Regional REALTOR® Association President John Lazenby, Colony Realty Group, Inc.

“The rise in median price is being driven, in particular, by massive year-over-year declines in inventory among single-family residences under $300,000, and purchases within this price range accounted for nearly 75 percent of all sales in August, ” explains Lazenby. “There were 21 percent fewer single-family homes listed below $300,000 available for purchase than this month last year. The lack of available options is pushing buyers to take advantage of the current low interest rates and choose more expensive properties they might not otherwise be able to afford with higher rates.”

Months of Supply by Price Category, Single-family Homes
August 2016
Price Category/Months of Supply
$200,000 and below/1.55
$200,001 – $300,000/2.43
$300,001 – $400,000/2.86
$400,001 – $600,000/ 5.49
$600,001 – $800,000/9.79
$800,001 – $1M/9.88
$1M and above/24.88

Orlando Housing Market Report Video – July 2016

Orlando median price jumps 12 percent amid declines in both inventory and sales

The inventory of homes available for purchase in the Orlando area dropped by 9.91 percent in July 2016, contributing to a 6.28 percent decrease in sales and a 12.04 percent increase in median price when compared to July 2015. Inventory has experienced 13 consecutive months of year-over-year declines.

“We saw a slowdown of home sales in July, and we’re still seeing prices rise and fewer available homes on the market,” says Orlando Regional REALTOR® Association President John Lazenby, Colony Realty Group, Inc. “Competition for homes in the entry-level and mid-price range (under $300,000) continues to remain high, especially among first-time homebuyers and investors. Additionally, would-be sellers are staying put and hesitant to put their homes on the market because they will face high prices and few choices as they look for a new home. As expected, high demand and low supply is continuing to drive prices up.”

Orlando Housing Market Report Video – May 2016

Orlando home sales rise 7 percent, median price jumps 12 percent to $203,000

The median price of Orlando homes sold during the month of May increased more than 12 percent compared to May 2015 and crossed the $200,000 mark for the first time since August 2008. In addition, sales showed a year-over-year increase of nearly 7 percent despite a continuing slide in inventory.

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Orlando Housing Market Report Video – April 2016

During the month of April, Orlando’s housing market saw both home prices and sales rise, but low inventory continued to challenge many would-be buyers.

Orlando Housing Market Report Video – February 2016

Orlando median price continues upward trek
as buyer demand for homes outstrips inventory in February

The inventory of Orlando homes available for purchase took another tumble in February, slowing year-over-year sales by 5 percent and driving a double digit increase in median price.

The overall median price (all sales types and all home types combined) for the month of February 2016 is $185,000, a 12.19 percent jump compared to the $164,900 median price in February 2015. The median price is up 2.78 percent compared to the January 2016 median of $180,000.

The Orlando median home price has now experienced year-over-year increases for the past 55 consecutive months; as of February the median price is 60.17 percent higher than it was in July 2011.

Orlando Housing Market Report – January 2016

Inventory declines drive Orlando home sales down, squeeze median price up

The median price of Orlando homes sold in January increased nearly 14 percent over January of 2015, amid an inventory level that has seen year-over-year decreases for the last seven months.

 

Orlando Housing Market Report – December 2015 and 2015 Year End

Orlando housing market ends 2015 with a 15 percent increase in annual sales; 9 percent increase in median price.

Orlando’s 2015 median price ($178,788) finished a healthy 9.02 percent higher than the 2014 annual median price ($164,000), thanks to a full 12 months of year-over-year price increases. Sales for 2015 finished 15.46 percent above the cumulative total sales for 2014.

Orlando Housing Market Report Video – October 2015

Orlando home sales slipped 3 percent in October and marked the first time since August 2014 that the market has posted a year-over-year decline in the number of residential real estate closings. On the other hand, the median home price rose 12.50 percent in October compared to October 2014, which is the highest leap in year-over-year increases since May of 2014.