Orlando Housing Market remains “Hot for the Holidays” as reported in ORRA’s December 2020 Market Report

Orlando Regional Realtor Association® reports the Central Florida median home value at $275,000, up 14.6% year-over-year in its December 2020 Market Report (for data from November 2020). ADOM of 44 days is the lowest in 3 years. Total number of sales is a spiking upwards 25% year-over-year with inventory steadily declining, thus creating an extremely limited 1.72 months’ supply available. If all the homes on the market were to sell, the timeline would take approx. 6 weeks. Economists generally consider a 6 month supply of inventory has a healthy market between buyers & sellers. Avg. mortgage rate of 2.7% is an all-time low as the Federal Reserve is maintaining historically low interest rates to aid in the Covid-19 economic recovery process. Distressed sales, which include REO & short sales, are 1% of all sales. The full report is available here: ORRA Market Pulse Report December 2020