Orlando Sales Slip in June 2019

  Follow me: Wendy Morris on Twitter Wendy Morris on Facebook Wendy Morris on LinkedIn
Tue, Jul 16, 2019 at 10:35AM

Orlando’s housing market enjoyed year-over-year increases in both median price and inventory in June, while sales took a bit of a slide during the peak of our traditional home buying season.

We are expecting June’s 2% decline in sales to reverse itself in the coming months as families seek to close on their new homes before the start of the school year and In addition, we anticipate an eagerness to take advantage of favorable conditions such as falling mortgage rates and small-but-steady increases in the inventory of homes available for purchase in the Orlando area.  A more detailed analysis Video can be seen here

(View our Latest Orlando Housing Market Report Video - June 2019.mp4)

Median Price

The overall median price of Orlando homes (all types combined) sold in June is $250,000, which is 5.0% above the June 2018 median price of $238,000 and up compared to the May 2019 median price of $243,000.  
The median price for single-family homes that changed hands in June increased 3.0% over June 2018 and is now $270,000. The median price for condos increased 7.5% to $134,350.

The Orlando housing affordability index for June is 130.40%, down from 130.49% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)

The first-time homebuyers affordability index decreased a fraction to 92.73% from 92.79% last month.

Sales and Inventory

Members of ORRA participated in 3,399 sales of all home types combined in June, which is 1.8% less than the 3,461 sales in June 2018 and 10.7% less than the 3,806 sales in May 2019.

Sales of single-family homes (2,685) in June 2019 increased by 0.5% compared to June 2018, while condo sales (406) increased 3.3% year over year.

Sales of distressed homes (foreclosures and short sales) reached 115 in June and are 14.2% less than the 134 distressed sales in June 2018. Distressed sales made up just 3.4% of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in June (8,050) represents an increase of 6.5% when compared to June 2018, and a 0.9% decrease compared to last month. There were 5.0% more single-family homes and 23.5% more condos, year over year.

Current inventory combined with the current pace of sales created a 2.4-month supply of homes in Orlando for June. There was a 2.2-month supply in June 2018 and a 2.1-month supply in May 2019.

The average interest rate paid by Orlando homebuyers in June was 3.93%, down from 4.15% the month prior.

Homes that closed in June took an average of 51 days to move from listing to pending and an average of 37 days between pending and closing, for an average total of 88 days from listing to closing (down from a total of 90 days the month prior).

Pending sales in June are up 4.2% compared to June of last year and are down 4.8% compared to last month.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in June were down by 2.7% when compared to June of 2018. To date, sales are down 6.9%.

Each individual county’s sales comparisons are as follows:

*Lake: 8.3% above June 2018;

*Orange: 2.8% below June 2018;

*Osceola: 8.5% below June 2018; and

*Seminole: 5.9% below June 2018.


Orlando Sales Slip in June 2019

Bookmark & Share

User Comments

Be the first to comment on this post below!

Popular tags on this blog

Al Capone | Bella Collina | Broker Associate Wendy Morris Realty | Celebrity Homes | Disney News | Drones | Foreclosure | For Sale Cannon EOS 7D Cameras Plus all the Lens | Hamilton Gardens Winter Garden Ryan Homes | How to Price your Home for Sale in Orlando Fl | Landlord | New From Our Broker Wendy Morris | ORLANDO HOUSING MARKET REPORT - AUGUST 2018 | Orlando Market Reports | Orlando Penthouses | Orlando Real Estate Market report 2019 | Queen of Versailles Jacqueline Siegel | David Siegel Windermere Lake Butler Sound | STAR WARS GALAXY?S EDGE | Summerport Windermere Fl | Waterfront Homes Clermont | Wendy Morris | Wendy Morris Realty | Wendy Morris Realty Marketing | Whitney Isles Windermere Home For Sale | Windermere Fl |

All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: | Stellar MLS (updated 1/28/20 9:04 PM)

Listing Search

Translate Tool

Featured Listings
Haines City Real Estate
Always dreamed of your own private boat dock just steps from your house? Now is your chance to make that dream a reality... Read More
Clermont Real Estate
remodeled condo - live in and homestead - use as retreat - rent out long term or short term - a/c replaced 2012 - comple... Read More
Maitland Real Estate
Exquisite lakefront property on Lake Maitland & "chain of 6 lakes" nestled on a very secluded street. This spacious tran... Read More
Okahumpka Real Estate
Rare Lake Harris Waterfront! Direct Chain of Lakes. Absolutely NO ROAD between the house and Lake Harris. House is si... Read More
Kissimmee Real Estate
4.5 BATH
One or more photo(s) has been virtually staged. LARGE PRICE REDUCTION-- The life of luxury is easy in this newly painted... Read More
Contact Wendy Morris


Wendy Morris LLC
DBA Wendy Morris Realty
Licensed in the State of Florida
BK 3146762
14832 Speer Lake Drive
Winter Garden, FL 34787

Your privacy is our utmost concern. We will never sell your personal information. Privacy Policy
©2011 -2020 windermerehomes.net - all rights reserved. | Site Map