Is Orlando, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Orlando has remained a Seller's Market.
Key Takeaway
Orlando is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Orlando, FL
How much do homes in Orlando, FL cost?
Median Sold Price
$385,135
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Orlando have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Orlando was $385,135 in May 2024, up 5.3% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $158.3K | $162.8K | +2.9% |
| 2 Bedrooms | $230K | $240K | +4.3% |
| 3 Bedrooms | $366.4K | $374.9K | +2.3% |
| 4 Bedrooms | $509.6K | $511.4K | 0.4% |
| 5+ Bedrooms | $731.3K | $791.8K | +8.3% |
Summary: Orlando housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 8.3%.
Median Sold Price Compared To Nearby Cities
| Belle Isle | $501.2K | $585K | +16.7% |
| Orlando | $365.6K | $385.1K | +5.3% |
| Winter Garden-Ocoee | $400.2K | $414.9K | +3.7% |
| Winter Park | $496.5K | $491.1K | -1.1% |
| Edgewood | $450.5K | $423.5K | -6.0% |
Housing Supply in Orlando, FL
How many homes are available in Orlando, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4,454 | 4,587 | +3.0% |
Summary: The Orlando real estate market had 4,587 homes for sale in May 2024, a 3.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 291 | 300 | +3.1% |
| 2 Bedrooms | 912 | 962 | +5.5% |
| 3 Bedrooms | 1,814 | 1,834 | +1.1% |
| 4 Bedrooms | 1,033 | 1,059 | +2.5% |
| 5+ Bedrooms | 404 | 432 | +6.9% |
Summary: The Orlando housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 6.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 989 | 1,037 | +4.9% |
Asking Price vs. Sold Price
651 Homes Were Sold
Under Asking
214 Homes Were Sold
At Asking
172 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Orlando, you may be able to get a good deal. 62.8% of homes here sold below asking price last month.
Summary: A total of 1,037 homes were sold or pending in Orlando in May 2024, up by 4.9% month-over-month. Of the 1,037 sold homes, 63% were sold under asking, 21% were sold at asking, and 17% were sold over asking.
Days on Market for Orlando, FL
How long does it take to sell a home in Orlando, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 41 Days | +31.7% |
Summary: Homes in Orlando had an average of 41 days on market in May 2024, up by 31.7% compared to last year.
Breakdown of Home Sale Times
633 Homes Were Sold
Under 30 Days
265 Homes Were Sold
In 30 - 90 Days
139 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Orlando are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1037 homes were sold in Orlando; 61% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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