Market Conditions
- The average home price in June was $385,000, up from $378,000 in May. Average home prices have risen every month this year.
- The average home price in June 2023 was close to that of June 2022, when it stood at $387,000.
- New listings rose 7.1% from May to June, with 3,703 new homes on the market in June, compared with 3,459 in May.
- Homes spent an average of 41 days on the market in June, down from 45 days in May. That is 105.0% higher than in June 2022, when homes spent an average of 20 days on the market.
- Total sales fell 0.8% from May to June. There were 3,124 sales in June, compared with 3,150 sales in May.
- The interest rate in June was 6.7%, slightly higher than the 6.6% recorded in May.
- Inventory in June stood at 5,450, a 5.8% increase from May, when inventory stood at 5,149.
- The housing inventory in June 2023 (5,450) was 0.2% higher than in June 2022, when it stood at 5,437 homes.
“Now that we’re officially halfway through the year, the Orlando real estate market remains strong,” said Lisa Hill, President of the Orlando Real Estate Board. “The June real estate data is a strong indication of what the rest of the year will look like—we can expect to continue seeing more inventory and great prices on homes, which is good news for buyers and sellers.”
Market Overview
- Interest rates rose from 6.6% in May to 6.7% in June. This represents a 20.6% increase compared to June 2022, when interest rates stood at 5.5%.
- Pending sales declined, with 4,304 in May and 3,964 in June.
- 28 distressed properties (bank-owned properties and quick sales) accounted for 0.9% of all real estate sales in June. This represents a 33.3% increase from May, when 21 distressed properties were sold.
Inventory
- Housing inventory in the Orlando area increased by 5.8% from May to June. Inventory in May 2023 stood at 5,149 homes and rose to 5,450 homes in June.
- The housing supply rose to 1.74 months in June, a 6.7% increase from 1.63 months in May. A balanced market has a six-month supply.
- The number of new listings increased by 7.1% from May to June—from 3,459 homes to 3,703 homes.
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.
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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.