Market situation
- Total sales fell by 5.8% from March to April. There were 2,766 sales in April, down from 2,936 in March.
- Total sales in April 2023 were 27.2% lower than in April 2022, when there were 3,800 sales.
- The stock increased by 1.9% - from 5,052 homes in March to 5,148 homes in April.
- The stock in April 2023 (5,148) was 92.8% higher than in April 2022, when it was registered in only 2,670 households.
- The average house price in April was recorded at $370,000, up from $365,000 in March. Average house prices have increased every month this year.
- The average house price in April 2023 was the same as in April 2022, at $370,000.
- April's interest rate was recorded at 6.4%, down from 6.7% in March. This comes after three consecutive months with rising rates.
- New listings fell by 6.4% from March to April, with 3,220 new homes on the market in April, down from 3,442 in March.
- Homes spent an average of 52 days on the market (DOM) in April, compared to 57 days in March. This is 116.7% higher than in April 2022, when homes spent an average of 24 days on the market.
"April's data showed a slight increase in Orlando inventory as home sales slowed, indicating that the spring selling season may be starting to balance out," said Lisa Hill, president of the Orlando Regional REALTOR® Association. "Median home prices in Orlando are still rising, just as sellers continue to receive competitive offers. The good news for buyers is that interest rates in Orlando have dropped slightly, giving them extra buying power."
Market overview
- Interest rates fell from 6.7% in March to 6.4% in April. This is 29.7% higher than in April 2022, when interest rates were 4.9%.
- Pending sales (waiting for the deed to be signed) increased, with 4,220 in March and 4,485 in April.
- 18 distressed homes (bank-owned properties and short sales) accounted for 0.7% of all home sales in April. This represents a drop of 35.7% compared to March, when 28 homes
Stock
- Inventory in the Orlando area increased by 1.9% from March to April - from 5,052 homes to 5,148 homes. Inventory in April 2023 was 92.8% higher than in April 2022.
- Housing supply increased to 1.86 months in April, up from 1.72 months in March. A balanced market is six months of supply.
- The number of new hires fell from March to April by 6.4% - from 3,442 households to 3,220 households.
The full and most up-to-date State of the Market report published by ORRA can be found here.
Updated real estate market indicators
Below you can see up-to-date figures on the real estate market in Orlando and the surrounding area.
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This representation is based in whole or in part on data provided by the Orlando Regional Realtor® Association and Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. The data maintained by the association or StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record closings published after the date of the report.
ORRA Realtor® sales represent sales involving Orlando Regional Realtor® Association members, who are primarily - but not exclusively - located in Orange and Seminole counties. Please note that the statistics released each month may be revised in the future as new data is received.
Orlando MSA figures reflect sales of homes located in Orange, Seminole, Osceola and Lake counties by members of any Realtor® association, not just ORRA members.