Real Estate Rate Update


With both rates and inventory on the rise there is good news to be had for Buyer’s in the marketplace today.  Here are 3 positive notes to take on the current market for all you Buyer’s out there:

1. More Inventory Means More Choices!

Throughout the pandemic the housing supply was at an all time low while buyer demand went through the roof.  This combination made it difficult to find a home because there just weren’t enough to meet buyer demand. According to Calculated Risk, the supply of homes for sale increased by 39.5% for the week ending October 28 compared to the same week last year.

2. Overvalued Homes and Multiple Offers Are Gone!

Bidding wars are no more. With more options we’ve experienced less competition from other Buyers.  According to the National Association of Realtors (NAR), the average number of offers on recently sold homes has declined.

Most people who tried to purchase a home within the last 24 months dealt with inflated prices and being outbid by other buyers.  Now you have a chance to jump back into the market and enjoy searching for a home with less competition and less stress.

3. Buyer’s Have Negotiating Power Again!

With less competition Buyer’s now have more power.  For the past two years loads of Buyer’s were willing to look over very important steps in the home buying process, such as appraisals and inspections.  The most recent data from the Nation Association of Realtors (NAR) indicates the number of Buyer’s waiving those contingencies has decreased significantly.

As a buyer, this is good news. The appraisal and the inspection give you important information about the value and condition of the home you’re buying. And if something turns up in the inspection, you have more power today to renegotiate with the seller.

 According to a report, 95% of sellers said buyers requested a home inspection, and 67% negotiated with buyers on repairs as a result of the inspection findings.


Orlando Real Estate Market

October 23, 2022 – October 29, 2022

Single-family existing homes

  • Sales of single-family homes decreased to 351 during the week of Oct 23, from 425 the week prior
  • The median price of single family homes increased to $429,000, a change of 8.3%
  • Single-family inventory increased by 94, and now sits at 5,358

Sales of condos, townhomes, and villas 

  • Sales of condos, townhomes, and villas remains constant at 156 during the week of Oct 23
  • The median price of condos, townhomes, and villas decreased to $252,750, a change of -6.2%
  • Condo inventory increased by 5, and now sits at 1,674


See the full Newsletter Here!