Orlando Housing Market Activity: April 2019

Orlando’s housing market cools in advance of summer

After 93 months of consecutive year-over-year increases in median price, the Orlando housing market saw its first decline in April. The decrease was only 1% but it comes at the start of our traditional summer selling season, which typically sees jumps in both median price and sales.

According to the latest monthly report from the Orlando Regional REALTOR® Association, the median price (the figure at which half of the homes sold for more and half sold for less) was $235,000.

The report also shows 3,315 homes were sold in April compared to 3,371 for a 2% decrease. The decline can be attributed to factors such Orlando’s years of meager inventory (especially in the lower price categories) and years of steadily rising prices.

Regardless of a dip in sales, Orlando has just 2.38 months of supply. Since six months of supply is considered by economists to indicate a market that is balanced between buyers and sellers, Orlando is clearly still a seller’s market. However, the balance shifts when you consider price categories, with the lower price categories firmly favoring sellers and the higher price categories ($600,000 and above) favoring buyers.

The good news is that our inventory has been experiencing small-but-consistent increases. For April, the level of available homes increased by 2%. Each month since January has seen a year-over-year rise, with January in the lead with an 8% increase.

Condos are exhibiting the largest rises in availability; there were 20% more condos available in April of this year than in April of last year.

Single-family Home Update

Single-family home sales dropped 4% in April, with 2,535 units sold throughout the Orlando area versus 2,636 a year earlier. April marks the fourth consecutive month of sales declines; January saw the greatest (-14%) and February saw the smallest (-2%).

The median price for single-family homes decreased by 1% to $255,000 in April. The inventory of this home type increased a tiny fraction of less than one%. There are currently 6,193 single-family homes available for purchase through the multiple listing service.

Condo Update

Condos are leading the field in Orlando! Condo sales are up by 19% (433); condo inventory is up by 20% (1,157), and condo median price is up by 6% ($138,000).


About the Author

eXp Realty, the largest residential real estate brokerage by geography in North America and a subsidiary of eXp World Holdings (NASDAQ: EXPI).

Bobby is a U. S. Marine Corps Veteran and Florida native with over 17 years of combined, award-winning experience in Real Estate and Mortgage Lending in Central Florida.  An eXp ICON AGENT and Certified Mentor.  Formerly with RE/MAX where he was recognized as a Hall of Fame Member and a consistent Platinum Club Award Winner.  Locally, a multi-year Gold-Level Award Top Producer within the Orlando Regional Realtors Association (ORRA). His consistent productivity has earned him universal recognition, named as a Top agent in numerous publications, year after year including being voted a Best of Southwest Orlando Realtor 6 years in a row!

Bobby holds a Florida Real Estate Broker’s License with designations as a Graduate, REALTOR Institute (GRI); Accredited Buyer Representative (ABR); Certified Short Sale Professional (CSP); a Florida Military Specialist (FMS) and one of the few Real Estate Collaboration Specialists – Divorce (RCS-D) in Central Florida.  These advanced designations denote expertise in financial, market, and investment analysis, in addition to negotiation.   As such, he is considered an ‘expert’ in his field with experience in court testimony.

Bobby is also a dedicated member of his community and has served on numerous local Boards of Directors. He is a youth sports coach and a Partner in Education with Orange County Schools. Thus, Bobby was voted a 2015 ORRA Good Neighbor Award recipient for his volunteerism and charitable contributions by his peers.

Bobby and his beautiful wife Halle have three very active children; Isabella, ‘Little’ Bobby and Alex. They stay busy as a family with sports, extra-curricular clubs and travel. However, they also give back as a family and donate to local rescues as well as providing their home to foster animals whenever possible.

One of Bobby’s greatest attributes is that time and again he has proven himself to be a selfless professional, treating each of his clients as if their property was the most important. He continues to work with his clients personally and does not differentiate between a $100K condo or a $1M house on a lake…anywhere in Central Florida, he gives each one the equal time, attention and respect that they deserve, as praised through the countless reviews written about him by former Buyers & Sellers!

Bobby Baldor has demonstrated the extensive experience and proven expertise in our local market to help you and your family achieve your real estate goals. But more importantly, he is a caring member of our community. Bobby’s personal slogan is ‘Your Real Estate Hero’ …and he works hard to prove it.