Housing Market Activity: August 2021

Lake, Orange, Osceola, and Seminole Counties

State Of The Market

• Orlando's median home price for August 2021 was $320,000 which is constant from July 2021, but is a 16.4% increase from August 2020 when the median home price was $275,000.

• August 2021 sales decreased by 4.4% to 3,999 from July 2021 sales, but are up 13.0% from August 2020.

• Average days homes were on the market in August 2021 is 25 days setting a historic low. July 2021 was 26 days and August 2020 was 51 days.

• Inventory rose for the fourth straight month to 3,638, but is down 38.9% from August 2020.

Market Snapshot

• ORRA members sold 3,999 homes in August 2021, a 4.4% decrease from the 4,183 homes sold in July 2021. Home sales are up 13.0% from August 2020.

• Interest rates are flat from July 2021 and August 2020 at 2.84%.

• Listings spent just 25 days on the market in August 2021 which sets a new historical low from 26 days recorded in July 2021.

Inventory

• Orlando inventory for August 2021 was 3,628 which is up from 3,524 in July 2021, but down from 5,958 in August 2020.

• The supply of homes was 28 days in August 2021. A balanced market is six months.

• The number of new listings decreased to 4,375 homes in August 2021 from 4,710 in July 2021, a 7.1% decrease. It is an increase of 13.1% from August 2020 which had 3,869 new listings.