Central Florida Real Estate Weekly Market Report: July 23 - July 29, 2023
The number of transactions of single-family homes has been consistently lower in 2023 than 2022.
The median sale price of single-family homes in 2023 is very similar to 2022. Even though there are fewer transactions, as we saw in the previous chart, the sale price has not fluctuated significantly from year to year.
The inventory of single-family homes was higher in 2023 versus 2022 until the week of June 18. There is less inventory of single-family homes on the market now then there was this week last year.
The days of inventory, or absorption rate, was lower last year than this year until the week of July 16. The absorption rate is a function of the current inventory of single-family homes divided by the average number of daily sales. This result tells us how many days it will take to sell the current inventory available on the market.