Home sales in the Orlando metropolitan area fall by 15% in September

The Orlando Regional Realtor Association in its latest publication reported that there were 11,560 homes for sale in Central Florida in September 2024. This is a 0.4% increase from August 2024, when there were 11,511 homes for sale. These September figures represent the ninth consecutive month in which the inventory of homes for sale has increased, and it is also the highest inventory since September 2015. Compared to September 2023, the inventory has increased by 71.1%.

Regarding interest rates, in September 2024, they fell to 5.9%, down from 6.1% in August 2024, representing the lowest rate since August 2022. Homes for sale remained on the market for an average of 58 days in September, compared to 57 days in August. Home sales in the Orlando metropolitan area plummeted by 15% in this last month of September.

The median home price in the Orlando metropolitan area in September was $380,000, a slight drop from $384,500 in August 2024. Likewise, overall sales also experienced a decline of 15.3%, decreasing from 2,655 sales in August to 2,249 in September 2024.

Pending sales fell by 1.9%, with 3,490 in September compared to 3,556 in August. Additionally, new properties for sale decreased by 8.5%, with 3,530 new homes on the market in September, compared to 3,856 units in August.

The president of the Orlando Regional Realtor Association, Ms. Rose Kemp, commented on all these movements in the Orlando real estate market and stated: “Lower interest rates and increasing inventory levels are fostering a more balanced Orlando real estate market as we enter the fourth quarter. With the recent Federal Reserve rate cuts and an increase in available homes, many buyers who have been waiting on the sidelines are now finding opportunities to achieve the American dream of homeownership.”

Available foreclosures: 

Orlando: 150 homes available 

Central Florida: 300 homes available

By Elías DaSilva | 27 de Noviembre de 2024