Moving is such a huge task, and not only takes a physical toll on you and your family, it takes an emotional toll as well. While those unpacked boxes are staring at you, it is very easy to feel overwhelmed, and wonder when the new house will feel like home.  After making a few decisions, then getting to work, it will not take as long as you may think;  follow these tips! 

Before you move, think about how you want to set up and decorate your new home.  Here are a few factors you can focus on: 

• If you love the layout of your current home, do the same in your new house as closely as you can.  Use the same furniture placement, arrange your focal wall close to what you are familiar with, and keep your kitchen arranged as you do now. 
• Is there something you really dislike about where you are now? Switch things up in the new house for a completely different look that you love. Paint and furniture slipcovers go a long way if a total overhaul is not in the budget. 

• Those who thrive on change are going to have an easier time of moving to a new place.  Many go from one decorating extreme to another: farmhouse rustic to sleek and modern or from mid-century decor to a cottage style.    

• If it is in your plan to do any painting or other work, have that done before moving, or get it completed as soon as possible.  The longer it takes to unpack and put your personal things in place, the longer you will feel unsettled. 
• Getting unpacked as quickly as you can; no one feels at home having to maneuver around boxes that are stacked up around the house. If there are storage items that need to be put away, get them in the attic. Some rooms can be set up easily, such as the kitchen and eating areas, as well as bedrooms.  
• Forgo the take-out food after a couple of nights.  If you simply do not have time for cooking, at least seat everyone at the table with your usual dishes and silverware.  
• Having younger children’s rooms arranged with all their favorites will help them settle in.  Is there a family clock that chimes the hour? Get it unpacked and chiming as soon as possible.  Whatever is an “expected thing” in your home, the sooner it is in place, the more comfortable everyone will feel. 

• No matter the season, get your landscaping and outdoor items placed where you would like them. Personalizing with a monogrammed flag, your favorite flowers (in pots, as that is easier to care for after a recent move), and outdoor furnishings.  
• Get into your normal routine as best you can, and if there are new jobs or places to be, go about them as you would have in your former home.  Keeping everything, you need for the everyday running of life in the same general way and area they were in before will make for some normalcy. 

Even if you are happy and excited about living in a new place, wanting to make it feel like home is important to everyone involved. Whether approached with a casual “whenever,” or a planned out unboxing and setting up, the comfort of home may take a few weeks or months to achieve.  Taking care of the little things will certainly get you on your way to feeling some home, sweet home. 

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.

Orlando Regional REALTOR® Association releases overall 2023 data, revealing that rising interest rates were the biggest factor affecting housing market in 2023, slowing sales and boosting inventory.

December 2023 Summary

State of the Market

• “The housing market in 2023 continued to stabilize from the frenzy we saw during COVID-19. Many buyers chose to wait on
  buying a home amid rising interest rates,” said Rose Kemp, 2024 Orlando Regional REALTOR® Association President. “Interest
  rates fell near the end of 2023, which enticed buyers who were waiting on the sidelines. Looking ahead, these rates will continue
  to be the biggest factor in the market.”
• The overall median home price in 2023 was recorded at $370,500, an all-time high and a slight increase of 1.5% compared to
  2022 when the overall median home price was recorded at $365,000.
• Overall sales in December decreased slightly – 0.7% – from November, with 1,982 sales recorded. Overall sales in 2023 decreased
  by 20.1% with a total of 30,499 sales. Overall sales in 2022 were recorded at 38,162.
  Single family home sales decreased in 2023 by 19.6% for a total of 22,530 sales compared to 28,022 sales in 2022.
  Condo sales decreased in 2023 by 22.5% for a total of 4,007 sales compared to 5,168 sales in 2022.
  Townhome sales decreased by 19.7% in 2023 for a total of 2,853 sales compared to 3,551 in 2022.
• In November 2023, inventory was recorded at 8,202 – 4.11 months of supply. This was the highest inventory in the Orlando area
  since January 2019. (The real estate market is considered balanced when there is 6 months of supply.) Closing the year, inventory
  was recorded at 7,838 in December – 3.95 months of supply.
• Interest rates rose nearly every month in 2023. In October 2023, interest rates reached 7.8%, their highest point in more than 22
  years. Interest rates began to fall in the two subsequent months, closing out the year at 6.6%.
• New listings dropped in December, with 2,409 new listings, compared to 3,188 new listings in November.

2023 Annual Market Recap

(Cumulative 2023 totals compared to cumulative 2022 totals)

• The overall median home price in 2023 was recorded at $370,500, an all-time high and a slight increase of 1.5% compared to 2022 when the overall median home price was recorded at $365,000.
• Overall sales in 2023 decreased by 20.1% with a total of 30,499 sales. Overall sales in 2022 were recorded at 38,162.
  • Single family home sales decreased in 2023 by 19.6% for a total of 22,530 sales compared to 28,022 sales in 2022.
  • Condo sales decreased in 2023 by 22.5% for a total of 4,007 sales compared to 5,168 sales in 2022.
  • Townhome sales decreased by 19.7% in 2023 for a total of 2,853 sales compared to 3,551 in 2022.
• “The housing market in 2023 continued to stabilize from the frenzy we saw during COVID-19. Many buyers chose to wait on buying a home amid rising interest rates,” said Rose Kemp, 2024 Orlando Regional REALTOR® Association President. “Interest rates fell near the end of 2023, which enticed buyers who were waiting on the sidelines. Looking ahead, these rates will continue to be the biggest factor in the market.”

Market Snapshot

• Interest rates rose nearly every month in 2023. In October 2023, interest rates reached 7.8%, their highest point in more than 22 years. Interest rates began to fall in the two subsequent months, closing out the year at 6.6%.
• The average interest rate in 2023 was 6.8%.

Inventory

• At the start of the year, inventory was recorded at 6,115 – 3.65 months of supply. Supply dipped in the following months before rising again.
• In November 2023, inventory was recorded at 8,202 – 4.11 months of supply. This was the highest inventory in the Orlando area since January 2019. (The real estate market is considered balanced when there is 6 months of supply.)
• Closing the year, inventory was recorded at 7,838 in December – 3.95 months of supply.
• The average monthly inventory for 2023 was 6,243. The average monthly inventory for 2022 was recorded at 4,997.

ORRA’s full State of the Market Report for December 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 September 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.

Congratulations on becoming a first-time homeowner! Owning a home is an exciting milestone, but it also comes with a whole new set of responsibilities. From maintenance to budgeting, there’s a lot to consider. But fear not! In this comprehensive guide, we’ll provide you with essential tips to help you navigate the world of homeownership with confidence. Let’s dive in!

1. Prioritize Home Maintenance:

Keeping your new home in good shape is crucial. Regular maintenance can help prevent costly repairs down the line. Create a schedule for tasks like cleaning gutters, inspecting HVAC systems, and changing air filters. Don’t forget to maintain your lawn and garden too! A little effort now will go a long way in preserving the value and comfort of your home.

2. Understand Your Finances:

Owning a home comes with financial responsibilities beyond the monthly mortgage payment. Take time to understand your budget, including property taxes, insurance, and utility bills. Create an emergency fund to cover unexpected repairs or maintenance issues. It’s also wise to review your homeowners’ insurance policy and make sure it adequately covers your needs.

3. Get to Know Your Neighborhood:

One of the joys of homeownership is becoming part of a community. Take the time to explore your new neighborhood, meet your neighbors, and get involved in local activities. It’s a great way to find out about resources, services, and amenities that can enhance your living experience.

4. Stay Organized with Important Documents:

Keep all important documents related to your home in a safe, accessible place. This includes your mortgage agreement, insurance policies, warranties, home improvement receipts, and contracts with service providers. Having everything organized will save you time and stress if you need to refer to them later.

5. Plan for Home Improvements:

Make a list of home improvements you’d like to tackle over time. Prioritize them based on urgency and budget. Whether it’s updating the kitchen, remodeling the bathroom, or adding a deck, having a plan will help you achieve your vision for your home while staying within your means.

6. Learn Basic DIY Skills:

While it’s always good to call professionals for complex repairs, learning some basic DIY skills can save you time and money. Simple tasks like fixing a leaky faucet, changing light fixtures, or painting a room are handy skills to have. There are plenty of online tutorials and workshops available to help you get started.

7. Build a Reliable Support Network:

Don’t hesitate to seek advice from family, friends, or even online communities of homeowners. They can offer valuable insights and share their experiences. Additionally, having trusted professionals like plumbers, electricians, and contractors on speed dial will give you peace of mind when you need help.

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.

By and photo credit: blog.homekeepr.com/essential-tips-for-first-time-homeowners-a-comprehensive-guide

You are reading that correctly–classes for home buyers! If you are just starting the home-purchase process, you may get overwhelmed when you find out all that is involved. Sadly, it is not as easy as finding a house, paying for it, then moving in. It is a great idea to learn all you can about the purchase process as well as being a homeowner. 

• The Department of Housing and Urban Development has a list of free classes in every state, from credit counseling and home maintenance to housing for seniors. Select your state and find all that are available. 
• Sign up before you have found a house you want to purchase! However, if you are purchasing your home through FHA, USDA, or other agency, you may be required to take the courses. 
• Before deciding what workshop is best for you, make sure it is certified through HUD, and any credit courses are nonprofit and accredited by the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies.  

• Credit counseling should take place about six months before you start looking at homes so you can learn about improving your credit score and creating a budget. You want the highest credit score possible in order to receive pre-approval for a mortgage. 
• HUD-approved counseling agencies usually offer one-on-one sessions so you can get a better understanding of your financial situation, as well as answers to questions you may have. 
• Many workshops have more than one “instructor;” you will hear from lenders, appraisers, inspectors, and insurance agents who will discuss their roles in the home-buying process. 
• If there is no way to save or pay a 20% down payment, taking a workshop can help you find low down payment mortgages, as well as any grants that may be available in your community. 

When dreaming of buying your own home, do not allow the amount of information to overwhelm you and keep you from even trying! All it takes is this first step, and you will find that a home-buyer course will show you will not be alone on the road to homeownership. Once you learn the ropes of the process, you will feel confident when you contact a RealtorⓇ to begin your search. 

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 spikes as interest rates reach new heights.

State of the Market

• Inventory for November was recorded at 8,202, up 5.0% from October when inventory was recorded at 7,813. This is the eighth month in a row inventory has risen.
• Overall sales fell 17.8% from October to November. There were 1,996 sales in November, down from 2,429 sales in October. This is the sixth month in a row that home sales have fallen. A double-digit drop in sales from October to November is not out of the ordinary heading into the holiday season.
• November’s interest rate was recorded at 7.3%, down from 7.8% in October, when rates reached their highest level in more than 22 years.
• The median home price for November was recorded at $375,000, down slightly from $377,000 in October.
• Homes spent an average of 46 days on the market (DOM) in November, up from 44 days in October.
• New listings fell 7.8% from October to November, with 3,188 new homes on the market in November, compared to 3,456 in October.
• “A balanced market is a six-month supply of homes. In November, for the first time since January 2019, we have more than four months of supply,” said Lisa Hill, Orlando Regional REALTOR® Association President. “With an increase in inventory and with interest rates showing signs of coming down, we have conditions for a strong, healthy market heading into 2024.”

Market Snapshot

• Interest rates fell from 7.8% in October to 7.3% in November. This is 10.3% higher than November 2022 when interest rates were 6.6%.
• Pending sales fell 3.6%, with 2,900 in October and 2,796 in November.
• 21 distressed homes (bank-owned properties and short sales) accounted for 1.1% of all home sales in November. That represents a 16.0% decrease from October, when 25 distressed homes sold.

Inventory

• Orlando area inventory increased 15.6% from September to October. Inventory in September was 6,758, and inventory in October was 7,813.
• The supply of homes increased to 3.22 months in October, up 21.8% from 2.64 months in September. A balanced market is six months of supply.
• The number of new listings decreased from September to October by 2.5% – from 3,545 homes to 3,456 homes.

ORRA’s full State of the Market Report for September 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 September 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.

With a little less than a month left in the year, many begin to think about charitable donations.  Once you’ve decided on an amount to give, there are a few things to keep in mind: 

• Did you give last year?  Do a quick check of the organization’s website, or give them a call to see what sort of strides they’ve taken.  If you’re not satisfied, or don’t see progress, consider another charity. 
• As difficult as it can be to narrow your donation to one organization, a larger gift can be more beneficial as one gift, instead of spreading your donations around. 
• Keep in mind that there are thousands of charities who don’t have it in their budgets to advertise.  Consider giving to a local charity, or a national one that’s lesser known. 
• Once you’ve narrowed down your list, call the charities if you can’t find their mission statements online, and ask questions.  It’s the best way to get the information you need. 
• Although there’s nothing wrong with giving to your alma mater or the hospital that took such great care of a family member, find out if your local homeless or domestic violence shelter needs help.  These kinds of organizations usually struggle to make ends meet in providing services.   
• Make sure your charity is legitimate, and it’s very important to check their finances. Charity Navigator’s website will let your search a charity’s name and get feedback. 
• Because donations are tax-deductible, the IRS has a search tool that allows you to see what organizations are eligible for tax-deduction gifts. There are other handy options, such as seeing what organizations are no longer allowed to be considered exempt. 
• Avoid scams–charitable giving is at a high at the year’s end, and crooks abound.  Use the above IRS search tool to make sure your charity is a legitimate charity. 
• Keep receipts, check stubs or letters of thanks for when you’re filing taxes.  If your donation isn’t monetary, but something valued at over $5,000, the IRS requires an appraisal for your deduction. 
• Do you volunteer? Any out-of-pocket directly related expenses–even mileage–are tax deductible.  
• Keep in mind that last-minute online donations made December 30-31 are eligible for a tax write-off.  

Deciding who should benefit from your generosity can be a tough or easy decision, depending on what you already know. Just look for charities that depend on your generosity to keep their doors open, or who need your physical presence to be successful.  Giving isn’t always about money.  

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.

It’s time to get the holiday house decorating in high gear, and you may have bought new light strands, but plan on mixing them with ones you have, or adding LED lights.  Safety is important this time of year, and making the days merry and the nights bright means taking a few precautions. 

• Check your old lights for frayed wires, nicks or cuts along the outer cord, and broken bulbs. Broken bulbs can be replaced, but toss the frayed strands, or those with cuts. 
• Decorating the exterior of your house means the lights you use must be made for outdoors.  Check the packaging or tag on the string to make certain. 
• Use clips or hangers that are UL-approved–do NOT nail, tack, or staple lights to any fixture. 
• If you’d like to light a tree in your yard, make absolute certain no power lines run through the branches, and keep any lighting at least ten feet from power lines. 
• Make sure your extension cords are specifically made for outdoor use, and have a three-pronged ground plug.  Your receptacle should be a ground fault circuit interrupter (GFCI) outlet in case of electrical overload, it will shut off power.  Portable outdoor GFCI’s are available for very little cost at Amazon. 
• Read and heed all labels when it comes to connecting strings of lights.  If the label says only three can be connected to one another, start a new chain of lights after the third strand is in place.  Also keep in mind that only strands with the same number of bulbs should be connected–in other words, don’t connect a 100-strand with two 25-strands. 
• Keep extension cords away from high-traffic areas, and out from under welcome mats or pavers. 
• Many people start decorating long before Christmas, but be aware that most non-commercial light strands are only safely exposed to the elements for 90 days.  Any longer, and deterioration to the insulation will begin.   
• Avoid using a metal ladder if you’re having to get up high with your lights–use wooden or fiberglass instead. 
• Never leave lights on when you’re not at home, or asleep.   
• If you’re considering adding LED’s to your holiday display, make sure you don’t mix connecting with incandescent.  Going all-LED will be costlier upon start-up, but will save money on your power bill, as well as in replacement costs–LED’s can last up to twenty years. 

You don’t want a friendly neighborhood competition to turn into disaster, nor do you want a classic Clark Griswold power outage at home.  Know your home’s electrical limits, and use common sense and care while you’re decorating. 

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 spikes as interest rates reach new heights.

State of the Market

• October’s interest rate was recorded at 7.8%, up from 7.3% in September. This is the highest interest rate in the Orlando area since April 2001.
• Inventory for October was recorded at 7,813, up 15.6% from September when inventory was recorded at 6,758. This is the seventh month in a row inventory has risen and the largest monthly percentage increase in 2023 so far.
• Overall sales fell 5.0% from September to October. There were 2,429 sales in October, down from 2,558 sales in September. This is the fifth month in a row that home sales have fallen.
• The median home price for October was recorded at $377,000, up from $370,000 in September. This breaks a three-month streak of the median home price falling.
• New listings fell 2.5% from September to October, with 3,456 new homes on the market in October, compared to 3,545 in September.
• Homes spent an average of 44 days on the market (DOM) in October, up from 41 days in September. This is 15.8% higher than October 2022 when homes spent an average of 38 days on the market.
• “Sales were down and inventory was up in October as interest rates reached their highest level in more than 22 years,” said Lisa Hill, Orlando Regional REALTOR® Association President. “Even as rates climb, demand is keeping home prices high, creating challenges for buyers this fall. Early reports from November show rates falling, so we will have to wait and see if this offers buyers some reprieve.”

Market Snapshot

• October 2022 when interest rates were 7.0%.
• Pending sales fell 12.7%, with 3,322 in September and 2,900 in October.
• 25 distressed homes (bank-owned properties and short sales) accounted for 1.0% of all home sales in October. That represents a 56.3% increase from September, when 16 distressed homes sold.

Inventory

• Orlando area inventory increased 15.6% from September to October. Inventory in September was 6,758, and inventory in October was 7,813.
• The supply of homes increased to 3.22 months in October, up 21.8% from 2.64 months in September. A balanced market is six months of supply.
• The number of new listings decreased from September to October by 2.5% – from 3,545 homes to 3,456 homes.

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

his 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 September 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 rates reach highest level in over 20 years, contributing to market slowdown this fall.

State of the Market

• September’s interest rate was recorded at 7.3%, up from 6.6% in August. This is the highest interest rate since March 2002.
• Inventory for September was recorded at 6,758, up 10.5% from August when inventory was recorded at 6,115. This is the sixth month in a row inventory has risen.
• Overall sales fell 8.4% from August to September. There were 2,558 sales in September, down from 2,792 sales in August. This is the fourth month in a row that home sales have fallen.
• The median home price for September was recorded at $370,000, down from $375,000 in August. This is the third month in a row that median home price has fallen.
• New listings fell 2.1% from August to September, with 3,545 new homes on the market in September, compared to 3,620 in August.
• Homes spent an average of 41 days on the market (DOM) in September – the same as in August. This is 32.3% higher than September 2022 when homes spent an average of 31 days on the market.
• “Rising rates in September contributed to continued rising inventory, falling sales and falling median home price,” said Lisa Hill, Orlando Regional REALTOR® Association President. “Home sales during the fall are typically slower than sales during the spring or summer, and this may be especially prevalent this season with rates reaching their highest level in over 20 years. High interest rates have been the No. 1 factor affecting buyers this year, and it’s evident this challenge will persist.”

Market Snapshot

• Interest rates rose from 6.6% in August to 7.3% in September. This is 15.3% higher than September 2022 when interest rates were 6.3%.
• Pending sales fell 8.9%, with 3,647 in August and 3,322 in September.
• 16 distressed homes (bank-owned properties and short sales) accounted for 0.6% of all home sales in September. That represents a 23.8% decrease from August, when 21 distressed homes sold.

Inventory

• Orlando area inventory increased 10.5% from August to September. Inventory in August was 6,115 and inventory in September was 6,758.
• The supply of homes increased to 2.64 months in September, up 20.6% from 2.19 months in August. A balanced market is six months of supply.
• The number of new listings decreased from August to September by 2.1% – from 3,620 homes to 3,545 homes.

ORRA’s full State of the Market Report for September 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 August 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.