Orlando Regional Realtor’s Association

New Orlando Regional REALTOR® Association data shows a balanced market for the first time since February 2011.

• The supply of homes in Central Florida rose to 6.43 months in November, up from 5.45 months in October. A balanced market is six months of supply.
  
  • February 2011 was the last time there was a six-month supply of homes.
• Inventory for November was recorded at 11,604, up 2.2% from October when inventory was recorded at 11,357.
• November’s interest rate was recorded at 6.7%, up from 6.4% in October.
• The median home price for November was recorded at $380,000, down from $388,990 in October.
• Homes spent an average of 67 days on the market (DOM) in November – up from 60 in October.
• Overall sales decreased by 13.4% from October to November. There were 2,085 sales in October and 1,805 sales in November.
• Pending sales rose by 18.7%, with 2,767 in October and 3,285 in November.
• New listings fell 2.3% from October to November, with 3,185 new homes on the market in November, compared to 3,260 in October.
• “We have watched our market slowly settle over the last 12 months, and we now have what we consider a ‘balanced market’ for the first time in many years,” said Rose Kemp, president of the Orlando Regional REALTOR® Association. “As we near the end of 2024, I expect sales to cool as families focus on the holiday season, then ramp back up as we move toward springtime. Now is the perfect time to connect with your local REALTOR® to discuss your real estate goals for 2025. Start planning to take advantage of this balanced market’s exciting opportunities for buying or selling in the year ahead.”

• Interest rates rose from 6.4% in October to 6.7% in November.
• Pending sales rose 18.7%, with 2,767 in October and 3,285 in November.
• 16 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in November. This is a 5.9% decrease from October, when 17 distressed homes sold.

• Orlando area inventory rose 2.2% from October to November. Inventory in October was 11,357, and inventory in November was 11,604.
• The supply of homes rose to 6.43 months in November, up 18.0% from 5.45 months in October. A balanced market is six months of supply.
  
  • This is the highest supply of homes has been since January 2011.
• The number of new listings decreased from October to November by 2.3% – from 3,260 homes to 3,185 homes.

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

This representation is based in whole or in part on data supplied 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. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.