Central Florida Real Estate Weekly Market Report: August 13 - August 19, 2023

The weekly sales of single-family homes in 2023 is less than the number of weekly sales for the same week in 2022 (422 vs 451).

The median sale price of single-family homes this in 2023 is $420,000 compared to $415,000 for the same week last year. Last week, the median sale price was $426,250.

The inventory of single-family homes currently sits at 4,299 which is up from the prior week of 4,278. This week last year, the inventory of single-family homes was 5,096.

The days of inventory, or absorption rate, has decreased from the prior week. The absorption rate is a function of the current inventory of single-family homes divided by the average number of daily sales. The result tells us hw many days it will take to sell the inventory available on the market. There is currently 71 days of inventory compared to 79 days this week last year.