Central Florida Real Estate Weekly Market Report: August 27 - September 2, 2023

The weekly sales of single-family homes increased from the prior week, but remains lower than the same week of 2022 (495 vs 653). Sales activity for 2023 has been running consistently lower than 2022.

The median sale price of single-family homes for the week was $425,000. This is up from the prior week of $410,000 and higher than the same week of 2022 at $417,000. The weekly median sale price of single-family homes has been at or above $400,000 for most of 2023.

The inventory of single-family homes currently sits at 4,436. After steadily increasing for multiple weeks, inventory has decreased from the prior week 47 homes. 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 how many days it will take to sell the inventory available on the market. There is currently 63 days of inventory compared to 54 days this week last year.