Orlando Market Pulse May 2022
Inventory Increasing Bringing More Options To Buyers and Great Pricing For Sellers.
The latest market results are in
“This new surge in inventory is a sign that the Orlando housing market is beginning to level out, which is good news
for both buyers and sellers,” said Tansey Soderstrom, Orlando Regional REALTOR® Association President. “Buyers
will find more homes to choose from and sellers are still getting top dollar as Orlando’s median home price continues
May’s median home price was recorded at $379,950, an increase of 2.7% compared to $370,000 in April 2022;
this sets a record high for the fourth month in a row.
Overall sales in May increased by 3.8%, with a total of 3,946 sales compared to 3,800 sales in April 2022. This is a
1.9% increase compared to May 2021 when overall sales were recorded at 3,872.
Inventory increased by 44.2% from April 2022 to May 2022, with over 1200 additional homes hitting the market in
May compared to April – this is the highest monthly increase in Orlando inventory to date.
Interest rates increased from 4.9% in April 2022 to 5.3% in May 2022. This is the highest interest rates in the
Orlando area have been since 2009. This is also the first time Orlando’s interest rates have gone above 5% since
April 2010, when they were recorded at 5.1%.
24 distressed homes (bank-owned properties and short sales) accounted for 0.6% of all home sales in May 2022.
That represents a 7.7% decrease over April 2022, when 26 distressed homes sold.
New listings increased by 10.7% from April 2022 to May 2022, with a total of 4,822 new homes on the market in May.
While Inventory is still not balanced we are seeing healthier competition for owner occupant buyers and a great fighting chance to win in multiple offer situations.
Ready to Purchase a Home?
We would be happy to help you begin your home purchase goals. Reach out to us today and we can discuss all of the steps to achieve your objective!