Orlando Market Pulse May 2022

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Email: teamtyler@creegangroup.com

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
to rise.”

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!

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