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

We are seeing definite signs of a shift in the market, although practically speaking, the Central Florida market is still pretty hot! Looking at January’s numbers we are seeing a slow down with the average days on market. Those numbers are going up meaning that it’s taking longer to get a home sold than it did around this time last year. Right now there are almost 3x the amount of listings than there were last year and not as much demand cause the average days on market to go up.The average list to sales price ratio is going down meaning how much people are actually getting for their listing.

Months supply has gone up. The last few years we’ve been sitting at under a month of inventory and right now were sitting at just above three and a half months of inventory. As we’ve mentioned in our other videos anything less than four months is still a sellers market! Sellers still have more negotiating power than the buyers do because there’s still not enough inventory for the current demand.

So all in all were are still seeing that prices are holding strong. They are higher than what they were last year by quite a bit. The average sales price is about 10% higher than this time last year. We’re not seeing any major shifts in prices and affordability. We probably won’t see any changes until we shift into a buyers market where we see 10x the number of listings compared to the number of buyers there are before we start to see any price differences.There’s definitely less people that can afford to buy right now but there’s plenty of opportunities out there.

If you’ve been thinking about selling your home just keep in mind that we’ve reached the top of the market ( the strongest point at which to sell) sometime last year. Although that is the case, we are still at the top of the cycle. If the market is shifting we are at the top of a down cycle. According to industry leaders, we are expecting stats that are going to show the market balancing itself out over the next few years back to those normal trend lines. We probably still won’t see any major shifting or dropping in prices because there’s so much pent up demand and that will continue to be that way especially with the rates going up. So all these people that were going to buy are now holding off. Even if things changed a little bit in the future if interest rates come down all these people will be back in the market and it will shift that supply and demand again out of balance. So far, we are currently sitting at technically a sellers market because it’s below four months of inventory but I would call it reaching that balanced place where you can find a good deal and you can negotiate. If it’s a brand new listing in a hot neighborhood you’re still going to see that there is competition out there. Be prepared to make a strong offer if you find a house you love and find an agent like us and our team that will help guide you through every neighborhood where every little pocket is different. 

Give us a call and we’d be happy to help you navigate through these times (407)982-7240