Market situation

• Inventory increased 44.2% from April 2022 to May 2022, with more than 1,200 additional homes coming on the market in May - this is the largest monthly increase in Orlando inventory ever recorded.
• The average sales price for May was recorded at US$379,950, an increase of 2.7% compared to US$370,000 in April 2022; this sets a record for the fourth consecutive month.
• Interest rates increased from 4.9% in April 2022, to 5.3% in May 2022. This is the highest interest rate in the Orlando area since 2009. This is also the first time Orlando interest rates have exceeded 5% since April 2010, when they were recorded at 5.1%.
• Overall sales in May increased by 3.8%, with a total of 3,946 sales compared to 3,800 sales in April 2022. This represents an increase of 1.9% compared to May 2021, when 3,872 sales were recorded.
• Homes stayed on the market for an average of 21 days in May, a drop of 12.5% compared to April 2022, when the average was 24 days.
• New listings increased by 10.7% from April 2022 to May 2022, with a total of 4,822 new homes on the market in May.

"This new increase in inventory is a sign that the Orlando real estate market is starting to stabilize, which is good news for buyers and sellers," said Tansey Soderstrom, president of ORRA. "Buyers will find more housing options and sellers are still getting a lot of money, as the median home price in Orlando continues to rise."

Market overview

• Interest rates continue to rise, averaging 5.3% in May 2022. This is a significant increase compared to May 2021, when interest rates were at 3%.
• Pending sales fell by 7.9% from April 2022 to May 2022, to a total of 4,645 pending sales.
• 24 distressed homes (bank seizures and short sales) accounted for 0.6% of all home sales in May 2022. This represents a drop of 7.7% compared to April 2022, when 26 distressed homes were sold.

Stock

• Orlando area inventory increased 44.2% from April 2022 to May 2022. From 2,670 homes to 3,851 homes on the market. Inventory in May 2022 was 36.5% higher than in May 2021.
• The supply of homes remained at almost 1 month in May 2022. A balanced market is 6 months of supply.
• The number of new listings increased by 10.7% in May 2022 compared to April 2022, to 4,822 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.