Central Florida Real Estate Weekly Market Report: August 20 - August 26, 2023
The weekly sales of single-family homes in 2023 was less than the number of single-family homes sales from the same week in 2022 (410 vs 500). For the last three weeks of 2023 sales have been relatively flat, while there was an increase for the week last year.
The median sale price of single-family homes for the week was $410,000. This is less than the same week last year where the median sale price was $420,000. For 2023, the median sale price has been decreasing for the last four weeks.
The inventory of single-family homes currently sits at 4,483 and has been steadily increasing week-over-week. This week last year, the inventory of single-family homes was 5,096.
The days of inventory, or absorption rate, has increased 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 how many days it will take to sell the inventory available on the market. There is currently 77 days of inventory compared to 71 days this week last year.