Market Pulse December 2021
January 27th, 2022 by tisner
State of the Market
“We witnessed an unprecedented real estate market in 2021 – with demand, and price, dramatically increasing. On the flipside, we saw buyers struggle in a market puncuated by low inventory month-after-month,” said Tansey
Soderstrom, 2022 Orlando Regional REALTOR® Association President. “We expect demand will remain strong in 2022. If sellers decide to take advantage of this market, we could be in for another fierce year.”
December’s median home price was recorded at $340,000, closing the year with the highest median home price ever recorded.
Overall sales in December increased by 4.26% over November, with 3,820 sales.
Inventory noticeably dropped in December, decreasing by 15.1% from November, for a total of 2,586 homes on the market. This is a historic low for inventory in Orlando.
Interest rates showed a slight increase, as the average interest rate in December 2021 was 3.07%. New listings continued to drop with just 2,797 new listings in December.
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Complete stats and data may be found under Market Info at www.orlandorealtors.org. Comments or suggestions? Contact Mike Blinn, Statistician.
Market Pulse™ data represents all listings, taken or sold, by ORRA brokers, regardless of location, and is exclusive to residential property, which includes townhomes, duplexes, single-family homes, and condos. It does not include vacant land, or commercial transactions.