Orlando Housing Market Activity: November 2019

Orlando home sales, median price on the rise in November while inventory drops

Orlando’s housing market in recorded 3% year-over-year increases in both median price and sales in November, reports the Orlando Regional REALTOR® Association. The association’s data also show that the inventory of homes available for purchase declined for the fourth consecutive month, with November’s 10 percent drop the steepest of 2019.

“Despite our ongoing inventory challenge, there are some very interesting forward-looking indicators this month,” says ORRA President Jeffrey M. Fagan, Watson Realty Corp. “For example, the pending sales tally is up 17 percent compared to November of last year, and the new-contract count is up a whopping 28 percent. While some of this movement can be attributed to the traditional rush to close before the new year and desire to take advantage of homeownership’s tax benefits, I’d point my finger squarely at the very favorable interest rate that homebuyers are currently enjoying.”

Median Price

The overall median price of Orlando homes (all types combined) sold in November is $240,000, which is 3.0% above the November 2018 median price of $233,000 and down 0.8% compared to the October 2019 median price of $242,000.

The median price for single-family homes that changed hands in November increased 3.2% over November 2018 and is now $259,000. The median price for condos increased 0.3% to $135,000.

The Orlando housing affordability index for November is 141.87% up from 140.70% last month. (An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)

The first-time homebuyers affordability index increased to 100.88% from 100.05% from last month.

Sales and Inventory

Members of ORRA participated in 2,671 sales of all home types combined in November, which is 3.3% more than the 2,585 sales in November 2018 and 8.1% less than the 2,906 sales in October 2019.

Sales of single-family homes (2,044) in November 2019 increased by 2.9% compared to November 2018, while condo sales (340) increased 3.0% year over year.

Sales of distressed homes (foreclosures and short sales) reached 113 in November and are 12.4% less than the 129 distressed sales in November 2018. Distressed sales made up 4.2% of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in November (7,562) represents a decrease of 10.3% when compared to November 2018, and a 3.5% decrease compared to last month. There were 11.2% fewer single-family homes and 12.3% less condos, year over year.

Current inventory combined with the current pace of sales created a 2.8-month supply of homes in Orlando for November. There was a 3.3-month supply in November 2018 and a 2.7-month supply in October 2019.

The average interest rate paid by Orlando homebuyers in November was 3.61%, the same as the month prior.

Homes that closed in November took an average of 54 days to move from listing to pending and an average of 37 days between pending and closing, for an average total of 91 days from listing to closing (static from a total of 91 days the month prior).

Pending sales in November are up 17.4% compared to November of last year and are down 2.1% compared to last month.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in November were down by 0.6% when compared to November of 2018. To date, sales are down 2.7%.

Each individual county’s sales comparisons are as follows:

*Lake: 3.1% above November 2018;
*Orange: 0.8% below November 2018;
*Osceola: 5.1% below November 2018; and
*Seminole: 0.9% above November 2018.

Source: The Orlando Regional REALTOR® Association

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.