Orlando, Florida Home Sales
A total of 2,655 homes were sold during the month of August 2024. That is 5% less than the 2,792 sales in August 2023. Overall sales rose .01% from July to August. There were 2,655 sales in August, up from 2,652 sales in July.
Median Home Price
The median home price for August was recorded at $384,500, down 1.4% from $390,000 in July and up 2.5% from August 2023.
Inventory of Homes for Sale
Inventory for August was recorded at 11,511, up 3.2% from July when inventory was recorded at 11,158. This is the eighth month in a row inventory has risen. The last time inventory was this high was September 2015. Inventory in August 2024 was 88.2% higher than in August 2023.
Interest rates have dropped to their lowest level since August 2022, providing much-needed relief for buyers. This decrease can significantly reduce monthly mortgage payments
by hundreds of dollars. Additionally, buyers have more leverage and options, with homes staying on the market longer and inventory increasing. Now is the perfect time to explore the market, find your dream home, and secure a favorable rate.
