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    Monthly Newsletter
    May 19th, 2023

     

    State of the Market

    • State of the Market

      • Overall sales fell 5.8% from March to April. There were 2,766 sales in April, down from 2,936 sales in March.
      • Overall sales in April 2023 were 27.2% lower than April 2022 when there were 3,800 sales.
      • Inventory rose 1.9% – from 5,052 homes in March to 5,148 homes in April.
      • Inventory in April 2023 (5,148) was 92.8% higher compared to April 2022, when it was recorded at only 2,670 homes.
      • The median home price for April was recorded at $370,000, up from $365,000 in March. Median home prices have increased every month this year.
      • Median home price in April 2023 was the same as recorded in April 2022 at $370,000.
      • April’s interest rate was recorded at 6.4%, down from 6.7% in March. This comes after three straight months with rising rates.
      • New listings fell 6.4% from March to April, with 3,220 new homes on the market in April, compared to 3,442 in March.
      • Homes spent an average of 52 days on the market (DOM) in April, down from 57 days in March. This is 116.7% higher than April 2022 when homes spent an average of 24 days on the market.
      • “April data showed a slight uptick in Orlando inventory as home sales slowed, indicating the spring selling season may be starting to balance out,” said Lisa Hill, Orlando Regional REALTOR® Association President. “Orlando’s median home prices are still climbing as sellers continue to get competitive offers. The good news for buyers is that interest rates in Orlando dropped slightly, giving them extra buying power.”

       

      Market Snapshot

      • Interest rates decreased from 6.7% in March to 6.4% in April. This is 29.7% higher than April 2022 when interest rates were 4.9%.
      • Pending sales rose, with 4,220 in March and 4,485 in April.
      • 18 distressed homes (bank-owned properties and short sales) accounted for 0.7% of all home sales in April. That represents a 35.7% decrease from March, when 28 distressed homes sold. 

       

      Inventory

      • Orlando area inventory increased by 1.9% from March to April – from 5,052 homes to 5,148 homes. Inventory in April 2023 was 92.8% higher than in April 2022.
      • The supply of homes increased to 1.86 months in April, up from 1.72 months in March. A balanced market is six months of supply. 
      • The number of new listings decreased from March to April by 6.4% – from 3,442 homes to 3,220 homes.

       

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

    Brand New Listings to the Market

    15755 Autumn Glen Avenue, Clermont image
    15755 Autumn Glen Avenue, Clermont $374,900

    Welcome to a charming one-story home located in a peaceful gated community in Clermont, Florida. This beautiful 3 bedroom, 2 bathroom home offers a perfect blend of comfo...

    • 3 Beds
    • 2 Baths
    • Weston Hills Phase I SubDv.
    • 34714 Zip Code
    519 Wheatstone Place, Orlando image
    519 Wheatstone Place, Orlando $749,900

    Introducing this stunning model home that exemplifies modern luxury and meticulous attention to detail. With 4 bedrooms and 4 baths, this property offers an abundance of ...

    • 4 Beds
    • 4 Baths
    • Lake Rose Ridge Rep SubDv.
    • 32835 Zip Code
    21829 Royal St Georges Lane, Leesburg image
    21829 Royal St Georges Lane, Leesburg $330,000

    Beautiful turnkey Emerald model on the 6th fairway of the Monarch Golf Course * Tons of upgrades including a 2021 16-SEER HVAC system, 2021 garage screen, 2019 roof with ...

    • 2 Beds
    • 2 Baths
    • Royal Highlands Ph 01a SubDv.
    • 34748 Zip Code
    27021 White Plains Way, Leesburg image
    27021 White Plains Way, Leesburg $295,000

    Are you looking for carefree living with NO REAR NEIGHBORS? Well this is the place for you. This 2 bedroom, 2 bath villa features 1486 sq ft of living and is located in t...

    • 2 Beds
    • 2 Baths
    • Leesburg Arlington Ridge Ph 1-C SubDv.
    • 34748 Zip Code
    1509 Selma Avenue, Orlando image
    1509 Selma Avenue, Orlando $99,000

    There are few vacant lots left that are available in zip code 32825 Orlando. 1509 Selma Ave is a DOUBLE LOT. Selling 1/2 of that double lot on the right side of the dumps...

    • 32825 Zip Code
    758 E Michigan Street Unit 191, Orlando image
    758 E Michigan Street Unit 191, Orlando $149,900

    Just listed! This spotless first floor condo gives you the best of both worlds-close to all the action of downtown Orlando, and peaceful lakefront living. The entire unit...

    • 1 Beds
    • 1 Baths
    • La Costa Brava Lakeside Condo SubDv.
    • 32806 Zip Code
    2013 Bay Clover Drive, Winter Garden image
    2013 Bay Clover Drive, Winter Garden $775,000

    Welcome to this stunning 4-bedroom, 4-bathroom pool home located in the desirable Gated community of Carriage Pointe. This meticulously maintained property offers an arra...

    • 4 Beds
    • 4 Baths
    • Carriage Pointe A-I & L SubDv.
    • 34787 Zip Code
    10119 Sandy Marsh Lane, Orlando image
    10119 Sandy Marsh Lane, Orlando $559,000

    Welcome to 10119 Sandy Marsh Lane in the beautiful community of North Shore at Lake Hart. The community offers endless amenities for homeowners. They include tennis cou...

    • 4 Beds
    • 3 Baths
    • North Shore/Lk Hart Prcl 03 Ph I SubDv.
    • 32832 Zip Code
    Lady Lake image
    Lady Lake $230,000

    LOCATION LOCATION LOCATION!!! This spacious 2 bedroom 2 bath home located in the original villages offers the best of retirement living in central Florida. Situated on ...

    • 2 Beds
    • 2 Baths
    • Lady Lake Orange Blossom Gardens Unit 10 SubDv.
    • 32159 Zip Code
    9677 Lupine Avenue, Orlando image
    9677 Lupine Avenue, Orlando $299,000

    Light Bright 3/2 with a garage on a pond. Fantastic starter home or investment opportunity. Tenant occuped till 3/31/24. Bright & open home with vaulted ceilings, ceram...

    • 3 Beds
    • 2 Baths
    • Meadows At Boggy Creek SubDv.
    • 32824 Zip Code
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