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

We are currently in a normal market. It is still technically a seller’s market. Looking at the months of available inventory, we are just under three months. It has gone down a bit since January, but that’s because there’s still a listing inventory problem. There are just over 5,500 homes for sale, which is higher than it was last year. There are not many options in the Central Florida area, especially for the number of homes that are selling and the number of people shopping in our area. The supply and demand issue is driving up prices. Prices are still up year over year, but the rate of appreciation has slowed. The market isn’t going to shut down; it’s still very busy, and affordability has changed because the rates are higher. Higher rates have taken some buyers out of the shopping pool, but there are still plenty of people looking in the Central Florida area, keeping the market pretty hot! The average price point year over year is up 3.77%, so that means the market has gone up in the last year and it’s sitting at a normal appreciation rate, which is anything between 3% and 5%.

Things are still moving along very quickly here in Central Florida. The average days on the market are only 62 days, which is a little bit higher than what it was last year, but it’s still historically a pretty quick turnaround time from getting listed to sold. You still have a little bit of negotiation power now, and we’re still seeing some multiple offer situations in homes that are in a really hot area with not many listing options, priced right, and in good condition. There are definitely still great opportunities out there to get top dollar for your home, just know that you’ll have a little bit less competition in the buyer pool than you would have a year ago.

If you’re in the market to buy, you shouldn’t be too hesitant to make an offer on a home that you like because there is a good chance someone will make an offer on it the next day. The rates are higher, and we don’t expect them to go down, so sitting on the fence for the next few years waiting might get you a higher-priced home based on the rates of appreciation we’re seeing.

Give us a call and talk to us! Let’s see about your personal situation. There could be a way to buy down your interest rate, and we can get you into something now vs. waiting year over year to see what happens when the reality is that Central Florida is a very popular area to live in. (407)982-7240