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    Orlando Housing Market Recap: January 2021

    Orlando Housing Market Activity in January 2021

    New Orlando Regional REALTOR® Association report shows continued squeeze on the number of homes for sale

    State of the Market

    • There are fewer homes on the market to start off in 2021. More people are moving to Central Florida, furthering the gap between supply and demand. The Orlando metropolitan area gained 60,977 new residents in 2020, the most in the last five years.
    • Buyers are quickly snatching up available homes. In January, homes spent an average of just 49 days on the market versus 60 days in January 2020.
    • “Sellers definitely have the upper hand right now. Inventory is down significantly from a year ago, and we’re seeing this continued influx of people moving to Central Florida. Buyers need to be pre-approved and ready to make an offer on a home they like, as the competition for homes is fierce,” said Natalie Arrowsmith, 2021 Orlando Regional REALTOR® Association President, NextHome Arrowsmith Realty.

    “Sellers definitely have the upper hand right now. Inventory is down significantly from a year ago, and we’re seeing this continued influx of people moving to Central Florida. Buyers need to be pre-approved and ready to make an offer on a home they like, as the competition for homes is fierce,” said Natalie Arrowsmith, 2021 Orlando Regional REALTOR® Association President, NextHome Arrowsmith Realty.

    Market Snapshot

    • ORRA members sold 2,727 homes in January 2021, an increase of 20% over January 2020.
    • The median sales price for January 2021 was $275,000, up 12% from January 2020.
    • Listings spent an average of 40 days on the market until contract in January 2021, a drop of 33% from January 2020.

    Inventory

    • The Orlando area inventory is down 40% from 7,030 homes in January 2020 to 4,233 homes in January 2021.
    • The number of new listings decreased 5% from 3,579 homes in January 2020 to 3,394 homes in January 2021.

    How Does Your Home Value Stack Up?

    The low housing inventory of 2020 continues into 2021 – driving up median sale prices right along with the competition. But is the trend changing? REALTORS® in Orlando sold 20% more homes last month than they did the previous January. Could it mean this Seller’s market is about to go away?

    ORRA’s full Market Pulse Report for February can be found here.

    This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

    ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

    Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.


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