Orlando Housing Market Activity – February 2021

Orlando Area Residential Real Estate Snapshot for February 2021

New Orlando Regional REALTOR® Association report shows continued squeeze on the number of homes for sale

 

State of the Market

  • The number of homes for sale in the Orlando market plummeted by 50% from February 2020 to February 2021. This marks the lowest inventory since May 2005, putting an even tighter squeeze on the market, as demand remains high.
  • The supply of homes stands at 1.14 months, less than half of what it was in February 2020 (2.71). A healthy market has a six-month supply
  • The median home price continues to rise, with February’s median price at $280,000 up 2% over January.
  • Interest rates continued to rise for a second straight month to an average of 2.88% in February 2021. That number, however, is still lower than the interest rate in February 2020, which was 3.43%.
  • “The new numbers illustrate just how far the market is tipped in favor of sellers. Sellers are receiving multiple offers, often above their asking price, and buyers are engaging in bidding wars with people looking to move to Orlando from other states,” said Natalie Arrowsmith, 2021 Orlando Regional REALTOR® Association President, NextHome Arrowsmith Realty. “There are not nearly enough homes on the market to meet the demand from people who want to buy homes right now.”

Market Snapshot

  • ORRA members sold 2,995 homes in February 2021, an increase of 19% over February 2020.
  • The median sales price for February 2021 was $280,000 up 12% from February 2020.
  • Listings spent an average of 52 days on the market until contract in February 2021, a drop of 10% from February 2020.

Inventory

  • The Orlando area inventory is down 50% from 6,825 homes in February 2020 to 3,420 homes in February 2021.
  • The number of new listings decreased 15% from 3,924 homes in February 2020 to 3,322 homes in February 2021.
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.

Personally:

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.