Market Conditions
- Total sales fell 24.9% from December to January. There were 1,674 sales in January and 2,230 sales in December. This is the lowest monthly number of home sales since February 2009.
- Total sales in January 2023 were 44.8% lower than in January 2022, when there were 3,033 sales.
- The average home price in January was $350,000, down from $353,200 in December. This is the third consecutive month that the average home price has fallen.
- Homes spent an average of 57 days on the market (DOM) in January, compared with 49 days in December. This represents a 78.1% increase from January 2022, when homes spent an average of 32 days on the market.
- Inventory fell slightly from 6,351 homes in December to 6,115 homes in January.
- The number of households in January 2023 (6,115) was 157.0% higher than in January 2022, when only 2,379 households were recorded.
- The interest rate for January was recorded at 6.1%—the same as in December.
- New listings rose 33.2% from December to January, with 2,911 new homes on the market in January.
“With significant year-over-year changes, the January data is a strong indicator that the Orlando real estate market continues to find its balance,” said Lisa Hill, president of the Orlando Regional REALTOR® Association. “The Orlando real estate market remains in correction mode, as sales have been steadily slowing over the past 12 months. The big news for buyers is that they have many more options compared to last year. For sellers, home values remain stable.”
Market Overview
- Interest rates remained stable at 6.1% in January. That is 81.5% higher than in January 2022, when interest rates stood at 3.4%.
- Pending sales increased by 43.8%, rising from 2,402 in December to 3,453 in January.
- 14 distressed homes (foreclosed properties and short sales) accounted for 0.8% of all home sales in January. This represents a 17.6% decline from December, when 17 distressed homes were sold.
Inventory
- Inventory in the Orlando area fell 3.7% from December to January—from 6,351 homes to 6,115 homes. Inventory in January 2023 was 157.0% higher than in January 2022.
- The housing supply increased to 3.65 months in January. This is the highest monthly housing supply since November 2016. A balanced market has a six-month supply.
- The number of new admissions rose by 33.2% from December to January—from 2,186 households to 2,911 households.
The complete and most up-to-date 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.
—‍
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.