Orlando, FL Housing Market Report January 2017


Orlando home sales increase 2 percent as median price jumps 11 percent in January


The Orlando housing market experienced increases in both median price and sales in January, while the pool of homes available for purchase shrank by 21 percent in comparison to January of last year.

Orlando’s overall median home price (all home types combined) is $199,000, which is 10.6 percent above the January 2016 median price of $180,000. Year-over-year increases in median price have been recorded for the past 66 consecutive months; as of January 2016, the overall median is 72.3 percent higher than it was back in July 2011.

The median price for single-family homes that changed hands in January increased 8.8 percent over January 2016 and is now $216,500. The median price for condos increased 13.6 percent to $99,950.

The overall average home price for January 2017 is $244,904, an increase of 11.9 percent over the average home price in January 2016. The average home listed for $252,514 in January and sold for 96.99 percent of its listing price (96.70 percent in January 2016).


Members of ORRA participated in 2,195 sales of all home types combined in January, which is 2.3 percent more than the 2,146 sales in January 2016 and 26.8 percent less than December 2016.

“We traditionally experience a big drop in sales between December and January after the rush to close for tax purposes,” says Orlando Regional REALTOR® Association President Bruce Elliott, Regal R.E. Professionals LLC. “REALTORS® expect sales to pick up in the coming months as the start of the spring-summer selling season takes hold. The pending sales tally for January, which is an indicator of future transactions, jumped by 15 percent over the last 30 days and supports an upcoming increase in sales.”

Sales of single-family homes (1,709) in January 2017 decreased by 0.3 percent compared to January 2016, while condo sales (282) increased 14.2 percent.

Sales of distressed homes (foreclosures and short sales) reached only 243 in January and is 54.3 percent less than in January 2016. Distressed sales made up 11.1 percent of all Orlando-area transactions last month.

The average interest rate paid by Orlando homebuyers in January was 4.30 percent, down from 4.32 percent the month prior.

The overall inventory of homes available that were for purchase in January represents a decrease of 20.7 percent when compared to January 2016. There were 21.5 percent fewer single family homes and 19.3 percent fewer condos.

Current inventory combined with the current pace of sales created a 3.90-month supply of homes in Orlando for January. There was a 5.02-month supply in January 2016 and a 2.87-month supply last month.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in January are up by 4.1 percent when compared to January of 2016.

Each individual county’s sales comparisons are as follows:

• Lake: 10.1 percent above January 2016;
• Orange: 4.8 percent above January 2016;
• Osceola: 9.2 percent above January 2016; and
• Seminole: 6.8 percent below January 2016.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Cherie Foutz

Broker and Owner of Lakes & Links International Realty, Cherie Foutz has been a top producing Realtor in the Central Florida area since 1989. She has owned and managed several successful real estate companies, a title company, and a mortgage company. In 2010, she opened her boutique real estate company, Lakes & Links International Realty to focus on the sale nationally and internationally of luxury properties that offer "resort like amenities" such as golf, tennis, and recreational lakes.

She specializes in the gated golf and lake communities in Heathrow, Lake Mary, and the Markham Woods corridor. Since 2002, she has sold hundreds of area homes. In 2016 and YTD in 2017, Cherie is ranked the #1 Agent in Lake Mary for Volume Sales, selling more volume real estate in Lake Mary/Heathrow than any other agent in the Orlando Regional Realtor Association comprised of over 11,000 agents.

Since 2006, she has been one of the Top 100 agents in the Orlando Regional Realtor Association for Volume Residential Sales and named to the "Hot 100 Real Estate's Best." She was awarded exclusive membership in the Who's Who in Luxury Real Estate. She is an Accredited Luxury Home Specialist, a designated Transnational Relocation Specialist, a Resort & Second Home Property Specialist and holds membership in the following: Global Real Estate Council, Associated Realty of the Americas, The International Real Estate Federation (FIABCI), and Worldwide ERC-The Association for WorkPlace Mobility.

Cherie Foutz, Broker, Lakes & Links International Realty