Market situation
- Total sales fell by 24.9% from December to January. There were 1,674 sales in January and 2,230 sales in December. This is the lowest number of monthly home sales since February 2009.
- Total sales in January 2023 were 44.8% lower than in January 2022, when there were 3,033 sales.
- The average house price in January was recorded at $350,000, down from $353,200 in December. This is the third month in a row that the average house price has fallen.
- Homes spent an average of 57 days on the market (DOM) in January, compared to 49 days in December. This represents an increase of 78.1% compared to January 2022, when homes spent an average of 32 days on the market.
- The stock fell slightly from 6,351 homes in December to 6,115 homes in January.
- The stock in January 2023 (6,115) was 157.0% higher than in January 2022, when only 2,379 households were registered.
- January's interest rate was recorded at 6.1% - the same as in December.
- New listings increased by 33.2% from December to January, with 2,911 new homes on the market in January.
"With significant year-over-year changes, January's data is a strong indicator that the Orlando real estate market continues to balance out," said Lisa Hill, president of the Orlando Regional REALTOR® Association. "The Orlando real estate market remains in correction mode as sales have steadily slowed over the past 12 months. The great news for buyers is that they have a lot more options compared to last year. For sellers, home values remain stable."
Market overview
- Interest rates remained stable at 6.1% in January. This is 81.5% higher than January 2022, when interest rates were 3.4%.
- Pending sales rose 43.8%, from 2,402 in December to 3,453 in January.
- 14 distressed homes (bank seizures and short sales) accounted for 0.8% of all home sales in January. This represents a drop of 17.6% compared to December, when 17 distressed homes were sold.
Stock
- Inventory in the Orlando area fell by 3.7% from December to January - from 6,351 homes to 6,115 homes. Inventory in January 2023 was 157.0% higher than in January 2022.
- The supply of homes increased to 3.65 months in January. This is the highest monthly supply of homes since November 2016. A balanced market is six months' supply.
- The number of new admissions increased from December to January by 33.2% - from 2,186 households to 2,911 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.