The New Year is well under way and we have the full picture of how the real estate market in Orlando fared in December and 2024 as a whole. The market was moving towards a buyers market since September as days on the market got longer and more listings showed up without an increase in corresponding demand.

By November the months of inventory reached 6.43 – the first time we have shifted to what is considered a “buyer’s market” since February 2011! The question in my mind is this the new trend or is this just our typical seasonality during a more balanced year.

December numbers show the typical peak in sales and reduced number of listings available. That moved the level of inventory quickly back to under 5 months and a “balanced market” again. Looking at the overall year we spent most of the year in a normal market. Of course there are areas of Central Florida with multiple offers and more of a seller’s market still and spots with significantly higher inventory and little to no demand. Those spots are seeing price reductions and the tale tale signs of a buyer’s market.

Now that January is in full swing we won’t have the actual figures until February to see how 2025 is doing. But looking at the numbers from December show signs that things are picking back up a little. We ended December with more home sales than in 2023 at the same time, more pending sales than 2023 at the same time, and an appreciation rate of 3.47% on the median sales price from 2023-2024.

Things are looking good for 2025 but it is all dependent on interest rates. If they remain steady or decline I suspect 2025 will shape up to be a good year. If they go up – well you know the drill. Affordability affects buyer demand and if buyer demand goes up things will shift.

For the full update,  watch the video:

Major Points:

  1. The number of homes sold is UP year over year.
  2. The number of pending homes sold is UP year over year.
  3. The number of homes for sale is UP year over year but down slightly by the end of the year (this is seasonality)
  4. Despite rising inventory and slowing sales this year, the prices are still up over 3.47% year over year. This is considered a normal appreciation rate.
  5. The balance of supply and demand moved to a “Buyer’s Market” in November for a quick minute and was the first time in 13 years! That might have been concerning except it quickly bounced back to balanced in December.
  6. Orlando in 2024 spent most of the year in a balanced market with opportunity for sellers and buyers.

It’s a great year to consider making a move, Contact us today or Give us a call at 407-982-7240 and we’ll walk you through the best scenario for you!

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