Orlando Housing Market Update – January 2020

The Orlando Housing Market Update for January 2020.

Orlando’s housing market in January marked a second consecutive month of double-digit year-over-year sales increases. Sales improved by more than 16 percent compared to January 2019, while the overall median price of homes (all types combined) increased to $245,000, which is 7.9% above the January 2019 median price of $227,000. However, the numbers of homes available for purchase in Orlando, although an 0.1% increase compared to last month, dropped by 14.7% when compared to January 2019.

 

 

The image below shows the Market Data for the Orlando & surrounding areas

from December 2017 thru January 2020.

ORRA Market Pulse Jan 2020

The Following graph shows New Listings, New Contracts on Listings, Total Pendings, and Closed Sales over the last two years!

ORRA Market Data Jan 2020 2-Year Running Recap

The following shows the cyclical pattern of new listings over the last 3 years!

ORRA Market Data Jan 2020 3-Year New Listings

The following shows the total number of homes listed for sale over the last 3 years! Total inventory still remains low.

ORRA Market Data Jan 2020 3-Year Inventory

The following shows the Average Monthly Mortgage Rate over the last 3 years!

The Avg rate for January dropped to 3.55%; the lowest since November 2012!

ORRA Market Data Jan 2020 3-Year Mortgage Rates

The market data still points to an active start to the year with pending sales in January up 7.8% compared to January of last year; Pending sales are up 25.9% compared to last month.