ORRA HOUSING MARKET REPORT – FEBRUARY 2019

Orlando’s median home price and inventory rise while sales decline in February

The Orlando housing market saw its median price continue a years-long upward trek with an economically healthy 3 percent year-over-year increase in February. Sales dipped a fraction and inventory increased for the fourth consecutive month, just in time for the start of Orlando’s homebuying season.

“March and April typically herald the beginning of our most active period, when a great many prospective buyers begin getting serious about being settled into a home before the new school year,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “Despite a decrease in year-over-year sales, greater inventory combined with moderated prices and interest rates that are at historic lows is expected produce our traditional uptick in springtime homebuying.”

Median Price

The overall median price of Orlando homes (all types combined) sold in February is $235,000, which is 2.6 percent above the February 2018 median price of $229,000 and 3.5 percent above the January 2019 median price of $227,000.

Year-over-year increases in median price have been recorded for the past 92 consecutive months; as of February 2019, the overall median price is 103.5 percent higher than it was back in July 2011.

The median price for single-family homes that changed hands in February remained stable over February 2018 and is now $249,900. The median price for condos increased 13.3 percent to $137,000.

The Orlando housing affordability index for February is 131.64 percent, down from 136.05 percent last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent 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 decreased to 93.61 from 96.74 percent last month.

Sales and Inventory

Members of ORRA participated in 2,402 sales of all home types combined in February, which is 5.4 percent less than the 2,538 sales in February 2018 and 23.2 percent more than the 1,950 sales in January 2019.

Sales of single-family homes (1,865) in February 2019 decreased by 2.9 percent compared to February 2018, while condo sales (261) decreased 12.9 percent year over year.

Sales of distressed homes (foreclosures and short sales) reached 104 in February and are 26.2 percent less than the 141 distressed sales in February 2018. Distressed sales made up just 4.3 percent of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in February (8,194) represents an increase of 6.3 percent when compared to February 2018, and a 0.6 percent decrease compared to last month. There were 4.6 percent more single-family homes and 29.0 percent more condos, year over year.

Current inventory combined with the current pace of sales created a 3.4-month supply of homes in Orlando for February. There was a 4.2-month supply in January 2018 and a 3.0-month supply in February 2018.

The average interest rate paid by Orlando homebuyers in February was 4.34 percent, up from 4.32 percent the month prior.

Homes that closed in February took an average of 62 days to move from listing to pending and an average of 35 days between pending and closing, for an average total of 97 days from listing to closing (down from a total of 98 days the month prior).

Pending sales in February are down 15.1 percent compared to February of last year and are up 17.0 percent compared to last month.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in February were down by 10.0 percent when compared to February of 2018.

Each individual county’s sales comparisons are as follows:

*Lake: 16.0 percent below February 2018;
*Orange: 6.2 percent below February 2018;
*Osceola: 21.0 percent below February 2018; and
*Seminole: 2.8 percent below February 2018.

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.