Orlando Market Update- August 2021
The real estate market is continuing on its competitive streak, homes are staying on the market for a shorter period of time and going for higher prices than before! Let’s not forget to pay attention to the changing Orlando Market for the month of August! Take a look at our August 2021 Orlando Real Estate Market Update for the month to understand the residential real estate activity in your area. Mark Spain Real Estate has summarized the key real estate trends of the Orlando Market so you can stay well informed!
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Hard Facts- Orlando Market Update
- The Number of active listings is down 51% from the previous year and down 1%
- The median listing price is $350,000
- The number of days on the market is down 58% from last year
- The median sales price is $310,000
- The number of units sold increased 4% year over year and decreased 8% month over month
What does this mean for you?
Buyers, the decrease in the number of active listings indicates a smaller inventory to choose from for those who have waited to buy. But, the number of units sold increasing indicated that buyers are finding what they are looking for.
Sellers, the number of days homes are spending on the market has decreased 58%, signaling a positive trend in local turnover rates. Sellers are able to sell their homes faster, due to the rising demand to buy a home. The median sales price for Orlando was $310,000.
Mark Spain Real Estate is grateful to provide up-to-date information for our clients to stay informed about recent residential real estate trends. One of our core values is to constantly grow and improve, we dedicate time to advancing our knowledge of the markets we serve to better deliver an unparalleled client experience. Contact us today!