The Orlando real estate numbers are in and we have analyzed the data for you.

For June, prices are up to a historic level! The average sales price is over $451,000. That’s another double-digit gain in value and that is indicative of what has been going on in the market for the last two months.

One important change in June was the level of inventory available. For the first time in over a year, we have over a month and a half or homes available for sale. Meaning, that we saw new listings come on the market in the past month and they are not selling as quickly leaving a larger surplus than we have become accustomed to. However keep in mind that anything below 4 months of inventory is still considered a “sellers market”.

The average number of days on the market is only 20 days. There’s still a heavy demand in the area, even though the number of sales has declined slightly-there are still many people buying homes. We have close to 4000 homes that sold last month. That’s a lot for our area and we don’t have enough inventory even with the increase that we saw last month.

Rising rates are certainly going to continue to make an impact on the demand as some buyers will be priced out of the market. If you’ve been thinking about selling and you want it to be sold fast and for a great price now would be the time to consider doing that because we can’t predict what it will look like in the future. You may not receive multiple offers but you will still get a great price today.

If you are buying a home it can feel a little scary with rising rates making affordability a little more difficult. Just know there are opportunities for everyone! You can buy down your rate or refinance in the future. There are lots of ways you can still own a home and become a wealth builder for your future without worrying about the actual rate itself.

Let’s talk about what your monthly payment needs to look like and find the right budget to fit that! 407-982-7240