Market situation
- The average house price in June was recorded at $385,000, up from $378,000 in May. Average house prices have increased every month this year.
- The average house price in June 2023 was close to that of June 2022, when it was recorded at $387,000.
- New listings increased by 7.1% from May to June, with 3,703 new homes on the market in June, compared to 3,459 in May.
- Houses spent an average of 41 days on the market in June, down from 45 days in May. This is 105.0% higher than in June 2022, when homes spent an average of 20 days on the market.
- Total sales fell 0.8% from May to June. There were 3,124 sales in June, compared to 3,150 sales in May.
- The June interest rate was recorded at 6.7%, up slightly from 6.6% in May.
- Inventory in June was recorded at 5,450, an increase of 5.8% compared to May, when inventory was recorded at 5,149.
- The inventory in June 2023 (5,450) was 0.2% higher compared to June 2022, when it was recorded at 5,437 homes.
"Now that we're officially halfway through the year, the Orlando real estate market continues to be strong," said Lisa Hill, President of the Orlando Association of Realtors. "June's housing market data is a strong indication of how the rest of the year will go - we can expect to continue seeing more inventory and great prices for homes, which is good news for buyers and sellers."
Market overview
- Interest rates rose from 6.6% in May to 6.7% in June. This represents an increase of 20.6% compared to June 2022, when interest rates were at 5.5%.
- Pending sales fell, with 4,304 in May and 3,964 in June.
- 28 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all property sales in June. This represents an increase of 33.3% compared to May, when 21 distressed homes were sold.
Stock
- Inventory in the Orlando region increased by 5.8% from May to June. The inventory in May 2023 was 5,149 homes and in June it rose to 5,450 homes.
- The supply of homes increased to 1.74 months in June, up 6.7% from 1.63 months in May. A balanced market has a six-month supply.
- The number of new listings increased from May to June by 7.1% - from 3,459 homes to 3,703 homes.
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.