Orlando home sales fall to lowest point since 2009, report says
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Loading... - Jeremy MOORE
- 27 Feb 2023
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Home sales in Orlando plunged in January, dropping to their lowest point in 14 years, with prices trending downward and homes spending longer on the market, according to a new report.
Sales last month were 24.9% behind December, for a total of 1,674 sales, the lowest amount in metro Orlando since February 2009, according to the latest housing report from the Orlando Regional Realtor Association.
The association includes sales from Lake, Orange, Osceola and Seminole counties.
Prices fell slightly as well, with the median home price dropping from $353,200 to $350,000. Homes also spent an average of 57 days on the market in January, up from 49 days in December and 32 days from the same time last year.
Despite sales being 45% behind last January, real estate agent Kristin Haughwout-Osorio of Orlando’s ParkSide Properties says she saw signs of improvement last month among her clients looking for new homes.
“I think it took everyone a moment to digest the interest rate bump,” she said. “Once they did, they started looking.”
Bolstering her point, pending sales rose by 43.8% from the previous month, according to the report. Read More…
