As we get ready to spend time with family this holiday season and reflect on all we are thankful for, I’d like to take a moment and say thank you for following along each month. I am dedicated to providing the best advice and guidance to navigate the market in Central Florida and am so grateful for our clients and followers.

This month we are looking at the stats from the end of October. We analyze that data to see how it compares to the previous year and share what’s going on in the market and what to expect. We are starting to see a clear picture of real estate in Orlando in 2024 and things have drastically shifted from the previous few years. Despite the rising inventory (about double the amount since last year) and lower than average sales all year long, the prices still went up over 3%.

For the full update, read more below or watch the video:

There’s a few new things to discuss this month!

1. The number of homes sold is down year over year.
2. The number of pending homes sold is down year over year.
3. The number of homes for sale is UP. All year we have had more inventory available then in the last 10 years.
4. Despite rising inventory and slowing sales this year, the prices are still up over 3% year over year. This is considered a normal appreciation rate.
5. The balance of supply and demand inched closer to a “Buyer’s Market” with 5.45 months of available homes for sale. Anything over 6 months is considered a market weighted to the buyers advantage.
6. It is really important to note that in pockets where there are less listings available, such as near Downtown Orlando and the surrounding neighborhoods you will experience a different market. In the last 3 deals we have had more than one offer on each one. It’s all about supply and demand and that varies across Central Florida.

It is important to talk to us about the actual market you will be entering as a buyer or seller. Things are very strong in some pockets while others are in a full fledged buyer’s market. I have even seen some pockets of vacation rentals with prices lower than they were a few years ago. But for primary buyers and sellers we are pretty balanced in most popular areas and some still leaning towards a seller’s market.

Depending on your location, there is still time to buy or sell and be settled before the New year. Every location and situation is unique, Contact us today or Give us a call at 407-982-7240 and we’ll walk you through the best scenario for you!