Market Conditions
- The average home price for August 2022 was recorded at $377,750, a slight decrease of 0.8% from July’s average home price of $380,900. This is the second consecutive month in which the average home price has fallen.
- Inventory rose 3.7% in August, from 6,518 to 6,762. This marks the fourth consecutive month of inventory growth.
- Homes spent an average of 27 days on the market in August, a 28.6% increase from July, when the average was 21 days.
- Interest rates remained relatively stable—4% in July compared with 5.3% in August.
- Overall sales in August also remained stable, with a 0.5% increase to a total of 3,324 sales compared with 3,309 sales in July.
- Overall sales fell 16.9% in August 2022 compared with August of last year.
- New listings fell 4.1% from July to August, with 4,550 new homes on the market in August.
“With a decline in average home prices and another increase in inventory, we’re seeing the Orlando real estate market stabilize as we continue to move away from a period of volatility and into a period of stability,” said Tansey Soderstrom, president of ORRA. “This is good for both buyers and sellers, as they can take a slower, more measured approach to buying or selling a home.”
Market Overview
- Interest rates fell slightly, with the average interest rate for August standing at 5.3%. This is 86.1% higher than in August 2021, when interest rates stood at 2.8%.
- Pending sales increased by 3.5% from July to August, for a total of 4,171 pending sales.
- Six distressed homes (foreclosed properties and short sales) accounted for 0.2% of all home sales in August. This represents a 66.7% decrease from July, when 18 homes were sold.
Inventory
- Housing inventory in the Orlando area increased by 3.7% from July to August, rising from 6,518 homes to 6,762 homes. Inventory in August 2022 was 85.9% higher than in August 2021, when it stood at 3,638 homes.
- Housing supply rose to 2.03 months in August. This is the first month since June 2020 with more than two months of supply. A balanced market is defined as six months of supply.
- The number of new listings fell by 4.1% in August compared to July, to 4,550 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.