Florida has started Phase 1 of reopening after the COVID-19 outbreak. The real estate market for Central Florida has remained pretty strong overall. However, as we look at the sales data from April the impact of the initial lock down is very apparent.

It is important to remember that we are always looking back at sales data The Orlando Regional Realtor Association recaps data from the previous month on the 15th. The number of homes sales declined by 28%. That’s a huge chunk of sales. But the inventory declined too. So even amidst a pandemic, the median sales price went up!

Things to watch…

We will keep watching pending sales data since it’s the biggest indicator of the future sales market. At the end of April pending sales were down 36.3% compared to April of last year and are down 17.1% compared to last month. However we are tracking this data weekly and it seems the pending sales have picked up in the last few weeks, so we will see if that was just a momentary blip in the market or a look at what is to come. Keep up weekly at our Youtube channel playlist .

One thing to note is that the average interest rate hit a 20 year low. If you are in the market for a new home and need to sell another, this is the right market to move up and upgrade. Sell for top dollar and buy with more buying power due to these interest rates. Call us with any questions at 407-982-7240