Your Winter Garden Realtor
Maybe you’re wondering what your current home value is, or if you could get approved for a loan to buy?
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Market Deceleration = Good News for Home Buyers!
After two years of scorching property markets, recent sales data tells us that the housing market has finally begun to decelerate. Here’s why a slowdown can be good news for would-be homebuyers.
Home inventory is rising. NAR data shows that inventory of homes for sale began rising in April 2022, with more than 237,000 additional homes on the market by June. This number is expected to keep rising.
Sales are cooling. Earlier this month, the annual rate of new home sales fell 17% between March and April. It was also the lowest reading since April 2020. Reports show that the numbers of homes with price reductions continues to rise while the share of homes getting multiple offers is decreasing.
Orlando Real Estate Market
Single-family existing homes
- Sales of single-family homes decreased to 419 during the week of Jul 03, from 767 the week prior
- The median price of single family homes increased to $426,600, a change of 0.4%
- Single-family inventory increased by 338, and now sits at 4,431
Sales of condos, townhomes, and villas
- Sales of condos, townhomes, and villas decreased to 142 during the week of Jul 03, from 245 the week prior
- The median price of condos, townhomes, and villas increased to $275,000, a change of 0.9%
- Condo inventory increased by 47, and now sits at 1,340
