Orlando, Florida Home Sales
A total of 2,652 homes were sold during the month of July 2024. That is 7% less than the 2,852 sales in July 2023. Overall sales rose 2.0% from June to July. There were 2,652 sales in July, up from 2,601 sales in June.
Median Home Price
The median home price for July was recorded at $390,000, down from $395,000 in June. June was the highest monthly median median home price on record in the Orlando area. Home prices were cited as the second biggest issue facing buyers in ORRA’s new survey.
Inventory of Homes for Sale
Inventory for July was recorded at 11,158, up 3.4% from June when inventory was recorded at 10,796. This is the seventh month in a row that inventory has risen. The last time inventory was this high was November 2015. Inventory in July 2024 was 95.1% higher than in July 2023.
July represented another strong month in the housing market as many families worked to squeeze in their moves before the start of the new school year. We continued to see an increase in inventory and sales as the Orlando housing market continued to stabilize. Interest rates are still holding steady in the mid-upper 6.0% range. The current market conditions offer more options for buyers along with new potential negotiating opportunities. Realtors are key to the success of a buyer and seller transaction.
