The Orlando real estate numbers are in and we have analyzed the data for you.

The average price has gone down slightly from last month, so we are still seeing signs of the market cooling down. However, it is still much higher than what it was last year with almost 15% gains year over year.  The number of pending sales and homes sold are declining.  This is partly because of seasonality but also because interest rates have gone up making it less affordable for some buyers.

If you or someone you know are looking to sell your home, you should try to do that before the end of the year. The average days on market is at about 31 days so ideally you’d want to get your home listed by mid-November to be sold by the end of the year. If you or a friend wants to buy a home by the end of the year, I recommend you start now to ensure you close on time to claim Homestead exemption in 2023.

There’s opportunity for both sides in this market.  A sellers market is anything less than 4 months of homes for sale.  Balanced is 4-6 months and a buyers market is 6+ months of inventory.  We are still technically in a sellers market with 2.5 months of available homes for sale so homes in excellent condition and priced well will sell quickly and there are still some multiple offer situations.  But for most people you will find negotiation is back in play and there is opportunity to find a great property with a fair price. 

Opportunity for everybody exists regardless of what the interest rates are. It’s all about finding the right budget for you and your needs and we can certainly help you with that. 

Give us a call and we’ll be happy to get you top dollar for your home as well! (407)982-7240