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Inventory in Orlando continues to rise
- The median home price for June was recorded at $395,000, up from $385,000 in May. This is the highest monthly median home price on record in the Orlando area. This is the second time in 2024 the record has been broken.
- Inventory for June was recorded at 10,796, up 5.0% from May when inventory was recorded at 10,282. This is the sixth month in a row inventory has risen. The last time inventory was this high was November 2015.
- Overall sales fell 10.6% from May to June. There were 2,601 sales in June, down from 2,909 sales in May. This breaks a four-month streak of rising sales.
- June’s interest rate was recorded at 6.7%, up from 6.6% in May.
- Pending sales fell by 8.3%, with 4,298 in May and 3,940 in June.
- New listings fell 8.4% from May to June, with 4,143 new homes on the market in June, compared to 4,521 in May.
- Homes spent an average of 54 days on the market (DOM) in June – the same as in May and April.
- “Demand in the Orlando market is holding strong this summer, as evidenced by yet another record-breaking median home price in June,” said Rose Kemp, Orlando Regional REALTOR® Association President. “The good news for buyers is that we are continuing to see inventory rise. More inventory gives buyers more options and more power to negotiate with the seller in the home-buying process.”
