ORLANDO HOUSING MARKET SNAPSHOT FOR DECEMBER 2021

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State of the Market

  • December’s median home price was recorded at $340,000, closing the year with the highest median home price ever recorded.
  • Overall sales in December increased by 4.26% with 3,820 sales.
  • Homes spent an average of 31 days on the market in December, up slightly from November 2021 when the average was 28.
  • Inventory noticeably dropped in December, decreasing by 15.1% from November, for a total of 2,586 homes on the market. This is a historic low for inventory in Orlando.
  • New listings continued to drop with just 2,797 new listings in December.
  • Interest rates showed a slight increase as the average interest rate in December 2021 was 3.07% compared to 2.95% in November.

Market Snapshot

  • During 2021, interest rates increased by roughly a quarter point from 2.73% on January 1, 2021 compared 3.07% on December 31, 2021.
  • There were 439 total distressed homes (bank-owned properties and short sales) sold in 2021. That represents a 50.1% drop over 2020 when 880 distressed homes sold.

Inventory

  • At the start of the year, inventory was at 4,875. The last day of the year, inventory was at 2,586 – a decrease of 47% and a historic record low dating back to 1995, as far back as ORRA data goes. Previously this year, inventory hit a record low in April 2021 followed by several months of increased inventory.

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 of 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.

Sources:

https://www.orlandorealtors.org/housingmarketnarrative

https://www.orlandorealtors.org/clientuploads/Market%20Statistics/Monthly%20Market%20Reports/2021/112021MarketPulse.pdf

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