ORLANDO, Fla. — New data from the Orlando Regional Realtor Association shows home prices dropped at the beginning of 2024.
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New home listings in the market rose 46.3% from Dec. 2023 to Jan. 2024, with 3,524 new homes on the market in January.
According to the Orlando Regional Realtor Association, there was a record inventory for January with 8,217 homes.
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The median home price for the new year is about $360,000; this is the third month in a row when the median price fell.
“We closed out 2023 with the healthiest market we’ve had in years, and this made both buyers and sellers optimistic for 2024,” said Rose Kemp, Orlando Regional Realtor Association President.
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The ORRA said the median price has dropped by $17,000 since Oct. 2023.
According to the association, January marks the eighth month in a row that home sales have fallen.
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Orlando homes are also spending more time on the market; there is an average of homes spending 57 days on the market in January.
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