Orlando, Florida Home Sales
A total of 2,085 homes were sold during the month of October 2024. That is 14% less than the 2,429 sales in October 2023. There were 2,085 sales in October, down 7.3% from 2,249 sales in September.
Median Home Price
The median home price for October was recorded at $388,990, up from $380,000 in September.
Inventory of Homes for Sale
Inventory for October was recorded at 11,357, down 1.8% from September when inventory was recorded at 11,560. This breaks a nine-month streak of rising inventory. Inventory in October 2024 was still 45.4% higher than in October 2023
The end of a nine-month inventory increase in October as interest rates rose back into the 6.0s, While inventory has shifted, this still represents a significant improvement compared to last year, offering more opportunities for buyers. With the holidays approaching, we typically see a market cooldown, but it will be exciting to see how the rest of the year unfolds. Additionally, with the election period now over, its impact on market conditions will also be interesting to follow.
