Central Florida Real Estate Report May 2023: Orange County Florida

Actively Listed Single-Family Homes

Year-over-year, active listings of single-family homes has decreased by 8% from 1,767 in May 2022 to 1,618 in May 2023. The median list price has increase 4% from $495,000 in May 2022 to $514,990 in May 2023.

Month-over-month, active listings of single-family homes has decreased 5% from 1,712 in April 2023 to 1,618 in May 2023. The median list price has increased 1% from $509,000 in April 2023 to $514,990 in May 2023.

Sales Activity Of Single-Family Homes

Year-over-year, the number of sales has decreased 14% from 1,308 sales in May 2022 to 1,125 sales in May 2023. The median sale price is up 2% from $456,000 in May 2022 to $465,000 in May 2023.

Month-over-month, the number of sales has increased 12% from 1,003 in April 2023 to 1,125 in May 2023. The median sale price has remained constant (less than 1% change) from $468,990 in April 2023 to $465,000 in May 2023.

Original List Price vs Sale Price Of Single-Family Homes

In May 2023, single-family homes sold for 98.6% of their original list price. In May 2022, single-family homes sold for 101.4% of their original list price and April 2023 they sold for 98.2% of their original list price.

Summary

The inventory of single-family homes is down year-over-year and month-over-month and prices remain slightly up or consistent depending on the point of comparison. Last year, homes were selling, on average, higher than the originally listed price. This year, sellers are moving down slightly from their originally listed price, but the sale price is still, on average, within 2% of the originally listed price.