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Written by:

Andrea Pointon

Orlando Real Estate Market – April 2022

Market Conditions

  • The average sales price in April was US$370,000, a 2.5% increase from US$361,000 in March 2022; this marks a new record for the third consecutive month.
  • Interest rates rose 17.6%, from 4.2% in March 2022 to 4.9% in April 2022. This represents a 66% increase compared to April 2021, when interest rates stood at 3%.
  • Total sales in April fell 7.3%, with 3,800 sales compared to 4,100 sales in March 2022. This represents a 7% decrease from April 2021, when total sales stood at 4,081.
  • Homes spent an average of 24 days on the market in April, down 11.1% from March 2022, when the average was 27.
  • Inventory rose 7.7% in April compared with March 2022, bringing the total number of homes on the market in April to 2,670.
  • New listings decreased by 0.5% from March 2022 to April 2022, with a total of 4,354 new homes on the market in April.

“As interest rates continue to rise, this suggests that the Orlando market may be starting to cool,” says Tansey Soderstrom, president of the Orlando Regional REALTOR® Association. “With interest rates on the rise, it will be more challenging for some buyers, as monthly payments will also be higher. However, overall demand remains strong, and homes continue to sell quickly.”

Market Overview

  • Interest rates continue to rise, with the average interest rate for April 2022 standing at 4.9%, compared to March 2022, when it was 4.2%.
  • Pending sales increased by 1.7% from March 2022 to April 2022, totaling 5,041 pending sales.
  • 23 distressed homes (bank-owned properties and short sales) accounted for 0.6% of all sales in April 2022. This represents a 14.8% decrease from March 2022, when 27 distressed homes were sold.

Inventory

  • Housing inventory in the Orlando area increased by 7.7% from March 2022 to April 2022, rising from 2,478 homes to 2,670 homes. Inventory in April 2022 was 1% higher than in April 2021.
  • The housing inventory stood at nearly one month in April 2022. A balanced market is defined as six months of supply.
  • The number of new listings in April 2022 decreased by 0.5% compared to March 2022, to 4,354 homes.

The full Market Situation report published by ORRA can be found here.

Updated Real Estate Market Indicators

Below you can find the latest real estate market figures for Orlando and the surrounding area.

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This representation is based in whole or in part on data provided by the Orlando Regional Realtor® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. The data maintained by the association or StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to account for closings published after the report date.

ORRA Realtor® sales refer to sales involving members of the Orlando Regional Realtor® Association, who are primarily—but not exclusively—located in Orange and Seminole counties. Please note that the statistics released each month may be revised in the future as new data is received.

The Orlando MSA figures reflect home sales in Orange, Seminole, Osceola, and Lake counties by members of any Realtor® association, not just ORRA members.