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Monthly Newsletter
May 15th, 2024

State of the Market

  • The median home price for April was recorded at $388,500, up from $386,500 in March. This is the highest monthly median home price on record in the Orlando area.
  • Overall sales rose 7.8% from March to April. There were 2,759 sales in April, up from 2,559 sales in March. This is the third month in a row that sales have risen.
  • April’s interest rate was recorded at 6.9%, up slightly from 6.7% in March. This is the third month in a row that interest rates have risen.
  • Inventory for April was recorded at 9,376, up 4.5% from March when inventory was recorded at 8,971. This is the fourth month in a row inventory has risen.
  • Pending sales increased by 2.9%, with 4,257 in March and 4,379 in April.
  • New listings rose 2.6% from March to April, with 4,230 new homes on the market in April, compared to 4,124 in March.
  • Homes spent an average of 54 days on the market (DOM) in April – down from 58 in March.
  • "April's median home price was recorded at $388,500," said Rose Kemp, Orlando Regional REALTOR® Association President. " We saw an increase in homes for sale, providing a wider selection for potential buyers. Despite the supply remaining slightly over three months, homes are selling quickly, indicating a strong demand. This demand is a positive indicator of market stability and is expected to continue through the next few months as families look to relocate during the summer season.”

Market Snapshot

  • Interest rates rose from 6.7% in March to 6.9% in April.
  • Pending sales rose 2.9%, with 4,257 in March and 4,379 in April.
  • 26 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in April. That represents a 13.0% increase from March when 23 distressed homes sold. 

Inventory

  • Orlando area inventory increased 4.5% from March to April. Inventory in March was 8,971, and inventory in April was 9,376.
  • The supply of homes fell to 3.40 months in April, down 3.1% from 3.51 months in March. A balanced market is six months of supply.
  • The number of new listings increased from March to April by 2.6% – from 4,124 homes to 4,230 homes.

ORRA’s full State of the Market Report for April can be found here.

 

Brand New Listings to the Market

$360,000
3 Beds 2 Baths Villages Lady Lake Unit 22 SubDv. 32159 Zip Code
Welcome to your dream home in the charming and friendly Village of La Reynalda. Surrounded by Mira Mesa executive golf course you are ideally situated minutes from the vibrant Spanish Springs Towne Square and a 10-minute golf cart ride to picturesque Sumter Landing. This meticulously maintained 1,509-square-foot residence offers the perfect blend of comfort, style, and convenience. As you approach this inviting property, you'll be captivated by mature landscaping, providing a serene, natural setting. Located on an oversized corner lot, your home offers ample space and privacy, making it an ideal sanctuary. Step inside to discover an open, airy atmosphere, designed to accommodate modern living. The spacious living room, adorned with Berber carpet, is perfect for both relaxation and entertaining. Large sliders lead to an enclosed lanai, where you can have your morning coffee or evening beverage while enjoying the tranquil views of your beautifully landscaped yard. Your favorite gathering place will be the large, well-organized kitchen, which boasts a charming breakfast nook with bay windows that flood the space with natural light. Features include a built-in pantry, tile flooring, and updated appliances to make meal preparation a breeze. The primary suite is located on one side of the home and the additional two bedrooms are on the other, ensuring privacy for both you and your guest. Sliders that open to the lanai, a hugh walk-in closet, and an en-suite bathroom offer convenience and comfort, enhancing the overall appeal of the primary suite. Each of the additional bedrooms is generously sized, featuring Berber carpet and ample closet space. The second bathroom is easily accessible and well-appointed, catering to the needs of both residents and visitors. This home has been thoughtfully updated to ensure peace of mind and long-term value. Notably, a new roof was installed in 2020, adding to the home's structural integrity and aesthetic appeal. With its prime location, mature landscaping, and well-designed interior, this home is truly a gem in, according to the latest statistics, the 4th most desirable neighborhood in The Villages. Whether you're looking to downsize, relocate, or simply enjoy the Florida lifestyle, this residence offers everything you need and more. Don't miss the opportunity to make this beautiful house your new home. Schedule a viewing today and experience all that this exceptional property has to offer. From

919 Pasadena Way, The Villages

$530,000
3 Beds 2 Baths Park Nbrhd 05 SubDv. 32832 Zip Code
This exquisite Waterfront 3 bedrooms, 2 bathroom home, in the lake Nona area directly on East Lake exudes timeless elegance in a highly prized locale. Upon entry, you're greeted by a sprawling formal living and dining area, setting the stage for refined gatherings and luxurious living. The heart of the home is the meticulously crafted kitchen, adorned with cherry-finish cabinets, gleaming granite countertops, and stainless steel appliances, perfect for culinary enthusiasts and entertainers alike. Overlooking a cozy breakfast nook and expansive family room, this space is designed for effortless hosting and cherished memories. Neighborhood Fishing Pier, Volleyball, Pickle ball ,Tennis, Pavilion ,Grill, Playground and restroom HOA $26 a month Privacy is paramount with the thoughtfully arranged split floor plan, ensuring tranquility with the primary suite secluded opposite the secondary bedrooms. Luxuriate in the spacious primary suite, complete with amenities such as a water softener, solar attic fan, whole house surge protector, surround sound, and storm shutters, offering both comfort and peace of mind. Indulge in the quintessential Florida lifestyle with seamless indoor-outdoor living, highlighted by an enclosed back porch and brick patio overlooking the tranquil water views. With a front porch, ceiling fans, and an open floor plan, this home embodies relaxation and sophistication at every turn. Beyond the confines of this idyllic abode lies the vibrant East Park community, where an array of amenities awaits, from shopping and dining to parks, lakes, and major highways. Experience the epitome of luxury living, as this exceptional home is available for immediate occupancy.

9749 Lake District Lane, Orlando

$815,000
5 Beds 3 Baths Hunters Creek Tr 515 Ph 01 & Hunters Vis SubDv. 32837 Zip Code
“Picturesque” doesn’t do the setting of this property justice. “Perfection” is more accurate. One of the most gorgeous locations in Hunters Creek with a pool and outdoor living space that underscores the breathtaking water and conservation view. This beautifully refreshed home is filled with custom upgrades, offering bright and airy living space with the convenience of updated systems throughout. Evidence of this property’s immaculate maintenance begins the moment you arrive, with lush landscaping and sealed brick pavers adorning the driveway. Upon entering, hand-scraped wood floors fill the interior with warmth and charm. A formal living room and formal dining room flank the foyer, and the open floorplan perfectly integrates these spaces into the rest of the home, making it feel spacious and ideal for entertaining. The kitchen overlooks the family room and casual dining space and features refreshed 42-inch cabinetry with hand-painted accents, granite counters with breakfast bar, pendant lights, and stainless-steel appliances. A first-floor bedroom with ensuite bath has been customized to accommodate occupants with mobility challenges, making this is a highly desirable layout for many families. Upstairs, the vast owner’s suite is an enticing sanctuary, with a fabulous view, trio of closets, and ensuite bath with dual sinks, large soaking tub, and separate shower with frameless glass enclosure. Three additional 2nd floor bedrooms are all large with good closet space, plus there is an extra room above the foyer that would make an ideal office, nursery, or 6th bedroom. Now for the star of the show: The impeccable backyard. Fully fenced and surrounded by hedges for privacy, this park-like oasis is anchored by the stunning, perpendicularly-aligned saltwater pool. With the pool’s water feature providing a tranquil soundtrack while you relax in the shade on the covered rear patio or along the brick-paver pathways under gently swaying palm trees, you and your guests will never want to leave. A waterfront lot with deeded conservation beyond is one of the most sought-after settings in Central Florida, and after a visit to this home it will be easy to understand why. Additional features include a 3-car garage, self-cleaning pool system, plantation shutters throughout the 1st floor, large laundry room with built-in cabinetry, hybrid water heater, and architectural shingle roof installed in 2017. Residents of the Flora Vista neighborhood of Hunters Creek enjoy an array of community amenities including more than a half dozen parks, miles of walking and biking paths, lakes for fishing, basketball courts, tennis courts, dog parks, softball fields, racquetball courts, pickleball courts and more. Zoned for top rated schools and ideally located 20 minutes from Walt Disney World, Orlando International Airport, Lake Nona Town Center and Medical City, and 25 minutes from Universal Studios and Downtown Orlando. Schedule your showing today!

13348 Paloma Drive, Orlando

$380,000
3 Beds 2 Baths Lake Gleason Reserve SubDv. 32725 Zip Code
Better than new fully updated 2021 smart home is located in the fabulous Deltona area of Central Florida. The foyer entry hallway leads into a fabulous open large Family Room/Kitchen/Dining combination-making entertaining a breeze! A spacious owner’s suite boasting adult height GRANITE double sink vanity, WALK-IN shower in master, and walk-in closet. Spacious secondary bedrooms, closets & abundant storage! Energy efficient improvements include Block construction with Miami graded hurricane impact windows for extra protection. Double pleated blinds in all windows with master bedroom blinds being a blackout for better sleep. Property has paid in full Tesla 5.6 kw rated solar panels with TESLA power wall plus of 14 kwh for when needed. Newly installed water resistance wood 14mm thick plank and padded floors in all bedrooms. Garage Opener woth 2 remotes and wall remote access. Pre wired for 6 camera system. Fully refinished and professionally cleaned. Centrally located near all Central Florida has to offer w/easy access to I-4 corridor for commutes to Orlando/Airports/Theme Parks or north to Daytona/St. Augustine /JAX. Minutes away from shopping / medical centers and entertainment, St. Johns River and Beaches. This quaint community feels tucked away into a small oasis of community living. The natural reserve scene around the community of ponds, trees, and the lake is captivating. Homes backyard view green space and natural preserve.

823 Baylor Drive, Deltona

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