There’s a lot to love this February in the Orlando real estate market. If you are a home seller or thinking of selling a home, you will reap the benefits of the seller’s market we have been experiencing for the last few years. The historically low inventory has caused the prices to rise over 21% since the time last year. February 2022 Market Update Video link

The Central Florida real estate market had a record breaking year and prices are up 21% since 2021. Those equity gains are very helpful if you need to move this year!

Record Breaking Sales

In June 2021 we saw the highest number of homes sold in a 20 year recorded history. 4,414 homes were sold that month!

Record Breaking Prices

In June 2021 we also saw the average list to sales price ratio hit 100%. Never before has something like that happened. That means that on average sellers were getting 100% of their asking price that month.

Record Low Inventory

What contributed to the last one was the lack of inventory available. In April 2021 we had the lowest number of homes available with .67 months of inventory. We sat with less than a month of inventory for 9 straight months. That along with the high demand is what drove prices up!

Trends to watch in 2022

The interest rates went up slightly the last few weeks. If rates continue to go up, demand could go down if that prices buyers out of the market. Affordability is key to sustaining the strong market conditions. However, the fear of rising rates also has a lot of buyers shopping now and creating more demand and competition.

Rising inventory could also tip the scales in 2022. I don’t yet see a surge of new listings but if people think this is the top of the market they could begin selling at higher rates. We’ll have to wait and see on that one.

All in all I do not think we’re going to see a major market shift this year and in fact all industry sources expect the prices will continue to rise. Without a ton of new listings or a major change in affordability, the Orlando market will remain strong.

If you have been thinking of selling the prices are great but it does matter who you work with. Our listings sold for 4.2% higher than average last year and 62% faster. Whatever your needs we have the experience and knowledge to guide you through the challenges this competitive market brings – even for home sellers!

We are powered by Keller Williams. 1 in 4.67 homes were sold with a Keller Williams Agent. We are proud to be a part of the #1 real estate company in the world and the #1 real estate company in Orlando. Call today and Ask for Kathryn 407-982-7240