Market situation

• The average sales price in March was recorded at US$361,000, an increase of 4.6% compared to US$345,000 in February 2022. This sets a record for the second month in a row.
• Interest rates increased by 8.7%, from 3.9% in February 2022 to 4.2% in March 2022.
• Overall sales in March increased by 28.2%, with a total of 4,100 sales compared to 3,198 sales in February 2022.
• Houses stayed on the market for an average of 27 days in March, a drop of 10% compared to February 2022, when the average was 30 days.
• Inventory increased by 7.1% in March compared to February 2022 to a total of 2,478 homes on the market in March.
• New listings increased by 18.7% from February 2022 to March 2022, with a total of 4,375 new homes on the market in March.
• "Spring is one of the most popular times to sell homes, and we're seeing just that through this month's real estate data," says Tansey Soderstrom, 2022 president of the Orlando Regional REALTOR® Association. "Everything in general saw a jump - from inventory to a new record average sales price and even the number of homes sold in the last month. However, with interest rates rising rapidly, we have to watch its effect and see if this is the beginning for the market to cool down."

Market overview

• Interest rates continue to rise. The average interest rate for March 2022 was recorded at 4.2% compared to February 2022, when it was 3.9%.
• ORRA member brokers sold 4,100 homes in March 2022, a 28.2% increase on the 3,198 homes sold in February 2022.
• 24 distressed homes (properties taken over by banks and short sales) accounted for 0.6% of all home sales in March 2022. This represents a drop of 17.2% compared to February 2022, when 29 distressed homes were sold.

Stock

• Inventory in the Orlando area increased by 7.1% from February 2022 to March 2022, from 2,313 homes to 2,478 homes. Inventory in March 2022 was 14% lower than in March 2021.
• The supply of homes remained at almost one month in March 2022. A balanced market is six months of supply.
• The number of new listings increased in March 2022 compared to February 2022 by 18.7% to 4,375 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.