Market situation
- Inventory increased by 41.2% from May 2022 to June 2022, with 1,586 more homes on the market in June compared to May. This is the second consecutive month with an increase in inventory, following the 44.2% increase in May.
- The stock increased by 75.5% from June 2021 to June 2022, jumping from 3,098 homes in June 2021 to 5,437 in June 2022.
- The average sale price in June was recorded at $387,000, an increase of 1.9% compared to May 2022; this sets a record for the fifth month in a row. This is an increase of 22.9% from June 2021 to June 2022, when the average sale price of homes was recorded at US$315,000 in June 2021.
- Interest rates increased from 5.3% in May 2022 to 5.5% in June 2022. These are the highest interest rates in the Orlando area since November 2008.
- Overall sales in June 2022 decreased by 3.9%, with a total of 3,793 sales compared to 3,946 sales in May 2022. This represents a decrease of 14.1% compared to June 2021, when overall sales were recorded at 4,414.
- Houses stayed on the market for an average of 20 days in June, slightly less than in May 2022, when the average was 21 days.
- New listings increased by 11.3% from May 2022 to June 2022, with a total of 5,367 new homes on the market in June.
"A balanced housing market has a six-month supply of homes," said Tansey Soderstrom, president of the Orlando Regional REALTOR® Association. "In June, with rising interest rates and rising inventory, we had more than a month's supply of homes for sale for the first time since February 2021. While it's still a seller's market, we continue to see signs that the market is starting to stabilize, which is good news for buyers."
Market overview
- Interest rates continue to rise, as the average interest rate for June 2022 was recorded at 5.5%. This is an increase of 87.5% compared to June 2021, when interest rates were at 2.9%.
- Pending sales decreased by 8.9% from May 2022 to June 2022, totaling 4,231 pending sales.
- 23 distressed homes (bank seizures and short sales) accounted for 0.6% of all home sales in June 2022. This represents a drop of 4.2% compared to May 2022, when 24 distressed homes were sold.
Stock
- Orlando area inventory increased 41.2% from May 2022 to June 2022, from 3,851 homes to 5,437 homes. Inventory in June 2022 was 75.5% higher than in June 2021.
- The supply of homes increased to 1.43 months in June 2022. This is the first time supply has exceeded one month since February 2021. A balanced market is six months of supply.
- The number of new listings increased in June 2022 compared to May 2022 by 11.3% to 5,367 homes.
The full 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.