New Orlando Regional REALTOR® Association data shows record median home price for second time this year.

State of the Market

• The median home price for June was recorded at $395,000, up from $385,000 in May. This is the highest monthly median home price on record in the Orlando area. This is the second time in 2024 the record has been broken.
• Inventory for June was recorded at 10,796, up 5.0% from May when inventory was recorded at 10,282. This is the sixth month in a row inventory has risen. The last time inventory was this high was November 2015.
• Overall sales fell 10.6% from May to June. There were 2,601 sales in June, down from 2,909 sales in May. This breaks a four-month streak of rising sales.
• June’s interest rate was recorded at 6.7%, up from 6.6% in May.
• Pending sales fell by 8.3%, with 4,298 in May and 3,940 in June.
• New listings fell 8.4% from May to June, with 4,143 new homes on the market in June, compared to 4,521 in May.
• Homes spent an average of 54 days on the market (DOM) in June – the same as in May and April.
• “Demand in the Orlando market is holding strong this summer, as evidenced by yet another record-breaking median home price in June,” said Rose Kemp, Orlando Regional REALTOR® Association President. “The good news for buyers is that we are continuing to see inventory rise. More inventory gives buyers more options and more power to negotiate with the seller in the home-buying process.”

Market Snapshot

• Interest rates rose from 6.6% in May to 6.7% in June.
• Pending sales fell 8.3%, with 4,298 in May and 3,940 in June.
• 25 distressed homes (bank-owned properties and short sales) accounted for 1.0% of all home sales in June. That represents a 47.1% increase from May when 17 distressed homes sold.

Inventory

• Orlando area inventory increased 5.0% from May to June. Inventory in May was 10,282, and inventory in June was 10,796.
• The supply of homes rose to 4.15 months in June, up 17.4% from 3.53 months in May. A balanced market is six months of supply.
• The number of new listings decreased from May to June by 8.4% – from 4,521 homes to 4,143 homes.

You can find ORRA’s full State of the Market Report for May here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

New Orlando Regional REALTOR® Association data shows inventory surpasses 10,000 homes for first time since 2016.

State of the Market

• Inventory for May was recorded at 10,282, up 9.7% from April when inventory was recorded at 9,376. This is the fifth month in a row inventory has risen. The last time inventory was this high was September 2016.
  • Inventory was 99.7% higher than May 2023.
• Overall sales rose 5.4% from April to May. There were 2,909 sales in May, up from 2,759 sales in April. This is the fourth month in a row that sales have risen.
• The median home price for May was recorded at $385,000, down from $388,500 in April. April was the highest monthly median home price on record in the Orlando area.
• May’s interest rate was recorded at 6.6%, down from 6.9% in April.
• Pending sales fell by 1.8%, with 4,379 in April and 4,298 in May.
• New listings rose 6.9% from April to May, with 4,521 new homes on the market in May, compared to 4,230 in April.
• Homes spent an average of 54 days on the market (DOM) in May – the same as in April.
• “Although May’s inventory did show a slight increase, it’s important to remember that our market is still very active. While there may be a few more options available compared to recent months, the high sales volume means homes are still moving quickly,” said Rose Kemp, Orlando Regional REALTOR® Association President. “With inventory levels remaining below the six months of supply that is considered a balanced market, buyers should be prepared to act fast if they find a home that meets their needs. The past four months have seen consistent sales growth, and I expect that trend to continue into the summer, making inventory a key factor for buyers.”

Market Snapshot

• Interest rates fell from 6.9% in April to 6.6% in May.
• Pending sales fell 1.8%, with 4,379 in April and 4,298 in May.
• 17 distressed homes (bank-owned properties and short sales) accounted for 0.6% of all home sales in May. That represents a 34.6% decrease from April when 26 distressed homes sold.

Inventory

• Orlando area inventory increased 9.7% from April to May. Inventory in April was 9,376, and inventory in May was 10,282.
• The supply of homes rose to 3.53 months in May, up 4.0% from 3.40 months in April. A balanced market is six months of supply.
• The number of new listings increased from April to May by 6.9% – from 4,230 homes to 4,521 homes.

You can find ORRA’s full State of the Market Report for May here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Buying a new home is exciting, but after the euphoria wears off, it’s time to start thinking about how to pack up and move everything. Unless you have the luxury of hiring a moving company, getting all of your things loaded carefully and transported from one place to another is a major DIY project. Here are some tips to take some of the anxiety out of packing.

• Start deep cleaning and cleaning out as soon as possible. Cleaning your things as you pack them will make it easier when your bone-tired from loading and unloading.
• Have a throwing out party. Calling it a party will get the kids involved and make it sound like a good time, right?
• Have a garage sale for items that may not fit in your new home or you have out grown.
• Call donation centers to pick up items you are not taking with you or donate them yourself.
• Time to box it up. Start gathering sturdy boxes or reusable storage boxes, and lots of newspaper and/or bubble wrap.
• Keep everything safe. For your kitchen items, ball up several sheets of newspaper and cover the bottom or the box. This provides a cushion for your breakables.
• Wrap it up. Use blankets, sheets and towels to keep framed photos and artwork safe.
• Clothes are best left in their dresser drawer–just remove the drawer when you’re moving the main part of the furniture, then replace them when it gets to the truck or trailer, and new room.
• Hanging clothes can be placed in a flat sheet. Lay the clothes, with their hangers, onto the sheet. Tie up each corner diagonally to create a big hobo pouch, and the knots can be a handle. Unless you’re lucky enough to have tons of luggage, it’s an easier way to transport those clothes than trying to hold all those hangers on your hand. Not to mention less painful.
• Luggage can be used to pack up items you consider priceless. Just pack them in the same manner as you would have in a box or container, and that way you can keep a better eye on them or move them yourself.
• Bare necessities. Make sure each person packs their own bag of clothes and any necessities they will need for a few days. The first week in a new home can be a bit confusing, and if everyone has what they need close by, this will make things easier.
• The big stuff. Furniture is straightforward. If you want extra protection, use an industrial roll of plastic wrap, or for tables and chairs, use a large blanket or some towels on the seats or tabletop to protect the finish. Glass table tops and mirrors need to have some crisscrossed masking tape on them to help protect them from shattering–think hurricane-style. Use hair ties to keep cabinet doors closed on hutches or entertainment center doors.
• Get yourself together. After everything is boxed up, taped up, labeled and ready to go, leave the boxes in the rooms they belong in. Remove things from the truck by room, and make sure the containers get to the rooms they’re labeled for.

Preparing to relocate can be daunting, but if you use some common sense and think practically, you can cut down on the stress of moving. Organization is the key!

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

New Orlando Regional REALTOR® Association data shows record-high median home price in Central Florida.

State of the Market

• The median home price for April was recorded at $388,500, up from $386,500 in March. This is the highest monthly median home price on record in the Orlando area.
• Overall sales rose 7.8% from March to April. There were 2,759 sales in April, up from 2,559 sales in March. This is the third month in a row that sales have risen.
• April’s interest rate was recorded at 6.9%, up slightly from 6.7% in March. This is the third month in a row that interest rates have risen.
• Inventory for April was recorded at 9,376, up 4.5% from March when inventory was recorded at 8,971. This is the fourth month in a row inventory has risen.
• Pending sales increased by 2.9%, with 4,257 in March and 4,379 in April.
• New listings rose 2.6% from March to April, with 4,230 new homes on the market in April, compared to 4,124 in March.
• Homes spent an average of 54 days on the market (DOM) in April – down from 58 in March.
• “April’s median home price was recorded at $388,500,” said Rose Kemp, Orlando Regional REALTOR® Association President. ” We saw an increase in homes for sale, providing a wider selection for potential buyers. Despite the supply remaining slightly over three months, homes are selling quickly, indicating a strong demand. This demand is a positive indicator of market stability and is expected to continue through the next few months as families look to relocate during the summer season.”

Market Snapshot

• Interest rates rose from 6.7% in March to 6.9% in April.
• Pending sales rose 2.9%, with 4,257 in March and 4,379 in April.
• 26 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in April. That represents a 13.0% increase from March when 23 distressed homes sold.

Inventory

• Orlando area inventory increased 4.5% from March to April. Inventory in March was 8,971, and inventory in April was 9,376.
• The supply of homes fell to 3.40 months in April, down 3.1% from 3.51 months in March. A balanced market is six months of supply.
• The number of new listings increased from March to April by 2.6% – from 4,124 homes to 4,230 homes.

ORRA’s full State of the Market Report for April can be found here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

New Orlando Regional REALTOR® Association data shows spike in listings kicking off the new year

State of the Market

• Overall sales rose 17.7% from February to March. There were 2,559 sales in March, up from 2,174 sales in February.
• The median home price for March was recorded at $386,500, up from $377,000 in February. The highest monthly median home price on record in the Orlando area was $387,000 in June 2022.
• Pending sales increased by 9.4%, with 3,891 in February and 4,257 in March.
• New listings rose 8.6% from February to March, with 4,124 new homes on the market in March, compared to 3,799 in February.
• Inventory for March was recorded at 8,971, up 4.4% from February when inventory was recorded at 8,589.
• March’s interest rate was recorded at 6.7%, up slightly from 6.6% in February.
• Homes spent an average of 58 days on the market (DOM) in March – up slightly from February.
• “The busy spring season for the real estate market is in full swing,” said Rose Kemp, Orlando Regional REALTOR® Association President. “We’ve seen a steady increase in sales, median home price and inventory every month this year. Our median home price in March was very close to our peak from June 2022, so it will be interesting to see how these high prices affect the market in the coming months.”

Market Snapshot

• Interest rates rose from 6.6% in February to 6.7% in March.
• Pending sales rose 9.4%, with 3,891 in February and 4,257 in March.
• 23 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in March. That represents an 8.0% decrease from February when 25 distressed homes sold.

Inventory

• Orlando area inventory increased 4.4% from February to March. Inventory in February was 8,589, and inventory in March was 8,971.
• The supply of homes fell to 3.51 months in March, down 11.3% from 3.95 months in February. A balanced market is six months of supply.
• The number of new listings increased from February to March by 8.6% – from 3,799 homes to 4,124 homes.

ORRA’s full State of the Market Report for March can be found here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

When buying a home various factors come to mind immediately-location, price range, home style, home condition, wish list for the interior and exterior, number of bedrooms and bathrooms desired; just to name a few. One component which can be overlooked by some but is extremely essential to many would be the local school system in the neighborhood. I highly value my communities’ school system.

Studies have found that home buyers would give up one aspect of their home to have their children attend a ‘better’ school district; this speaks volumes to how important education is for parents’. For some parents there are alternatives such as private schools but that is not the case for many. Even if buyers don’t have or plan to have school-age children in the house, the quality of nearby schools can have an impact on how much you pay, and how much a home sells for down the line.

In the past year Orange county public schools  has succeeded in the improvement to maintain outstanding schools for all of our children. Through strategic planning and organizational development our schools continue to advance! Good local schools are amongst us in high numbers and will provide our children with the learning and education they should receive but with the type we wish for them to obtain as well.

For additional information on our school systems please visit Florida Department of Education.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Credit Karma conducted a recent survey and discovered that 33% of those asked are expecting a refund of $1,001 or more this year, and 16% responded that they expect $2,501 or more. Now, we cannot get into the financial sense of tax refunds, but if you are one of those expecting a refund and planning to use it for some home-work, here are a few suggestions on how best to spend that money! 

$1,000 or Less 

• Replacing the front door is an expensive job, but it can create a whole new look for the front exterior of your home. 
• Improve an existing front walkway or add one.  Whether the home is going on the market soon or not, a new walkway will improve the curb appeal.  
• Make the kitchen look like it has undergone an expensive update: paint the cabinets, replace the hardware, and add a tile backsplash. 
• Install new light fixtures in the home. Shop smart, and every room in the house can get stylish new flush-mount fixtures. 
• DIY a minor bathroom renovation:  replace the toilet, faucets, and lights, and give the tub/shower a makeover with a refinishing kit. 
• Upgrade one appliance kitchen appliance.  

$1,000-$2,000 

• Making repairs that have been put off because of the expense should be done before any improvements are made. Protecting your investment is more important than new bathroom tile. 
• Bump your front lawn landscaping up a notch and hire a landscape designer to create a custom design for your yard.  
• Have those “popcorn” ceilings removed by a pro, and add new crown molding.  
• Tankless water heaters, whether whole-house or single-point, are worth the investment, as there will be an immediate difference in power usage. 
• Take on a DIY job and save money: paint the home’s exterior, install new flooring, add wainscotting, or install kitchen countertops. 

A tax refund can feel like a small lottery win, and using it for a visible home improvement job is very satisfying. However, using those funds to pay down any accumulated debt or as an investment will pay back in the long run. Check out these ideas from Investopedia, and take off some of that financial load! 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Spring is here and people are on the move! Buyers and sellers are waking up from their winter blues ready for new. A new change of scenery, a new place, a new start. In today’s competitive market, finding your dream home is just the beginning. The real challenge lies in making an offer that stands out, ensuring you cross the finish line as the new homeowner. Here are some top tips to help you craft the strongest offer possible, putting you a step closer to turning that dream home into your own.

1. Get Pre-approved for a Mortgage

Before you start your home search, get pre-approved for a mortgage. This step is crucial as it shows sellers that you are a serious and capable buyer. A pre-approval letter alongside your offer can significantly increase its attractiveness, as it reduces the risk for the seller.

2. Understand the Seller’s Needs

Knowing what the seller wants can be as important as the offer itself. Some sellers prefer a quick closing, while others may need a bit more time to move out. Tailor your offer to accommodate these needs. A flexible closing date can sometimes be just as appealing as a higher offer.

3. Offer a Competitive Price

While it’s important to stick within your budget, make sure your offer is competitive, especially in a seller’s market. Your real estate agent can provide insights into the home’s value and suggest an offer price that is both attractive to the seller and fair to you. Sometimes, offering just a bit over the asking price can make your offer stand out.

4. Minimize Contingencies

Contingencies are conditions that must be met for the sale to go through, such as home inspections and mortgage approvals. While they’re designed to protect the buyer, too many contingencies can make your offer less attractive. Work with your agent to minimize unnecessary contingencies, but be careful not to waive essential ones that could protect you.

5. Increase Your Earnest Money Deposit

An earnest money deposit is a sign of good faith and indicates your serious intent to buy the home. By increasing the amount beyond what’s typical in your market, you can show the seller you’re committed. This act can make your offer more appealing without increasing your overall offer price.

6. Personalize Your Offer

A personal touch can sometimes make all the difference. Consider writing a letter to the seller, expressing why you fell in love with the home and how you envision your future there. This emotional appeal can resonate with the seller, especially if they have a strong sentimental attachment to the home.

7. Work with a Reputable Real Estate Agent

A skilled agent is invaluable in the home-buying process. They can provide market insights, negotiation expertise, and guidance on crafting a strong offer. Choose an agent with a good track record and one who understands your needs and the local market.

8. Be Ready to Move Quickly

In a hot market, time is of the essence. Be ready to view homes and make decisions quickly. The ability to submit a prompt and well-considered offer can be a significant advantage.

Making a strong offer on a home requires a blend of strategy, flexibility, and sometimes, a personal touch. By following these tips and working closely with your real estate agent, you can increase your chances of success in today’s competitive market. Remember, every seller is different, so understanding their unique needs and preferences can truly set your offer apart. Good luck, and happy house hunting!

This time of year folks begin to get outdoors to do more around their homes because it is nice and warm outside.   It’s also a good time to do a bit of work outside the house and make your outdoor space more inviting and fun for family and friends.   Below is a list of ways in which you can accomplish this.

1. If you already have landscape lighting, why not purchase a few fun colored lights to use in them for different holidays.  This will defiantly make your outdoor space a lot more fun.
2. If you are getting tired of mowing your grass then you may want to replace your grass with a garden. You might want to add a garden of flowers or a garden of vegetables or even put in a koi pond.  Any of these ideas will help to keep you from spending your summer evenings mowing the grass all the time, therefore making your outdoor space more fun.
3. If your patio furniture is old and outdated, now is the time to go out to purchase some that allows you to show your style more effectively. Outdoor furniture always makes outdoor spaces more inviting and fun.
4. Adding a new doorbell to the outside of your home may seem like a small thing, however if you find a nice one that lights up the front door area it can do wonders towards making your home seem more inviting at night.
5. If you don’t already have a swimming pool, summertime is a great time to add one. Not much can make your outdoor space more fun than a swimming pool for all to enjoy.
6. If you do add a swimming pool why not go out and make it really fun and cool by adding an outdoor shower to the mix. This type of thing is pretty rare unless your home is at the beach, therefore your outdoor shower may quickly become the talk of the neighborhood.

There are so many ways in which to make your outdoor space more inviting and fun; these are just a few of them that you may want to try.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

New Orlando Regional REALTOR® Association data shows spike in listings kicking off the new year

State of the Market

• Overall sales rose 26.5% from January to February. There were 2,174 sales in February, up from 1,719 sales in January. This comes after eight months of falling sales.
• The median home price for February was recorded at $377,000, up from $360,000 in January. This comes after three months of falling median home price.
• Pending sales increased by 17.8%, with 3,303 in January and 3,891 in February.
• New listings rose 7.8% from January to February, with 3,799 new homes on the market in February, compared to 3,524 in January.
• Inventory for February was recorded at 8,589, up 4.5% from January when inventory was recorded at 8,217.
• February’s interest rate was recorded at 6.6%, up slightly from 6.5% in January.
• Homes spent an average of 57 days on the market (DOM) in February – the same as in January.
• “Super Bowl weekend is considered the unofficial kick-off to the spring homebuying season, and we definitely saw an uptick in the market this month,” said Rose Kemp, Orlando Regional REALTOR® Association President. “We had a lot of pending sales in January that finalized in February, causing home sales to jump as we approach this busy time for the market. Inventory and pending sales both increased from January to February, meaning we can expect to see another active sales month in March now that buyers have more options.”

Market Snapshot

• Interest rates rose from 6.5% in January to 6.6% in February.
• Pending sales rose 17.8%, with 3,303 in January and 3,891 in February.
• 25 distressed homes (bank-owned properties and short sales) accounted for 1.1% of all home sales in February. That represents a 13.6% increase from January when 22 distressed homes sold.

Inventory

• Orlando area inventory increased 4.5% from January to February. Inventory in January was 8,217, and inventory in February was 8,589.
• The supply of homes fell to 3.95 months in February, down 17.3% from 4.78 months in January. A balanced market is six months of supply.
• The number of new listings increased from January to February by 7.8% – from 3,524 homes to 3,799 homes.

ORRA’s full State of the Market Report for February can be found here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.