Orlando Market Overview June 2022

Take a look at some of the most recent sales data for Orlando in November.

AT A GLANCE:

• New Listings: 5367 (Up 41% From Last Month)
• Days On Market: 20 ( Homes Sold 1 Day Faster Than Last Month)
• Average List Price: $451,260 (↑ 1.3% Purchase Price Increase Over Last Month)
• Homes Sold: 3793 (3.9% Fewer Sales Than Last Month)
• Avg Mortgage Rate: 5.52% (.28% Increase Over Last Month)

We are seeing a shift in the market. As interest rates rise buyers are looking for more value in the homes they purchase. Sellers are looking to access their equity with home purchases vs refinancing and so as such, we are seeing a significant increase in homes on market. While this increase is helpful it does not solve the limited inventory problems we currently have.  Buyers may have more opportunities in the next few months akin to the market we had in 2017-2018 time period. As agents, we have had experience with this type of market and have the strategies needed to get the most value in home purchases.

At the same time, sellers will need to improve the quality of their homes in order to attract buyers who are paying a significant amount per month for their purchases. We expect home pricing to have more moderate increases than during the pandemic and so sellers will have to price accordingly in order for their listings to not get stale. Strong marketing will also be needed again to get the best possible price and get committed buyers.