Orlando April Market Update

The Orlando real estate market is continuing to show strength in April as the spring selling season is in full swing. With low inventory and high demand, the market continues to favor sellers, but buyers are still finding opportunities for success.

According to the Orlando Regional REALTOR® Association, the median price of a home in Orlando in April was $300,000, an increase of 8.7% compared to April 2020. The number of homes sold in April 2021 was 3,935, down 13.4% from the same time last year. However, this decrease can largely be attributed to the low inventory of homes available for sale.

Sellers in the Orlando market are still able to take advantage of the favorable conditions. With a tight inventory and high demand, homes are selling quickly and often for above asking price. However, sellers should still be cautious with their pricing strategy. While homes are selling quickly, pricing too high can still deter potential buyers and ultimately lead to a longer time on the market.

For buyers, the Orlando market may be challenging, but opportunities are still available. With interest rates remaining low, buyers may be able to afford more than they initially thought. Additionally, working with a knowledgeable real estate agent who can help navigate the market and find off-market listings can increase a buyer's chances of success.

One area of the market that is showing signs of increased activity is new construction. With a lack of existing homes on the market, buyers are turning to new construction as a viable option. Builders are also responding to the demand by ramping up construction, which may help alleviate some of the inventory concerns.

Overall, the Orlando real estate market in April is showing continued strength and is expected to remain favorable for sellers. However, with low inventory and high demand, buyers will need to remain diligent in their search and be prepared to act quickly when the right opportunity arises.

If you are considering buying or selling in the Orlando market, it is important to work with a real estate agent who can help you navigate the current conditions and achieve your goals. Contact us today to learn how we can help you succeed in the Orlando real estate market.