Orlando, FL Real Estate & Homes for Sale | RE/MAX (2024)

FAQs

Are Orlando home prices dropping? ›

Median Sold Price

Homes in Orlando have sold for 5.3% more than they did a year ago. Summary: The median home sold price in Orlando was $385,135 in May 2024, up 5.3% from last year, and the median price per square foot was $239.

Orlando's median sale price is 6% lower than the national average. Overall cost of living in Orlando is 0% lower than the national average. Learn which home features in Orlando add value to a home.

The median listing home price in Orlando, FL was $389K in April 2024, trending down -2.5% year-over-year. The median listing home price per square foot was $249. The median home sold price was $395K.

Orlando, Florida, is one of the prime locations for such investments. With its booming tourism industry, growing population, and strong job market, Orlando offers ample opportunities for property investors. However, successful real estate investment requires careful planning and consideration.

State of the Market

Orlando's real estate landscape is marked by a steady market with a penchant for growth. According to the Orlando Regional REALTOR® Association, as of February 2024, the local housing market activities underscore a consistent demand.

Inventory in the Orlando area is now at a four-month supply, which is the highest it's been since 2019. The real estate market is considered balanced when there's a six-month supply. “What we're seeing now is a healthy market,” Kemp said. “The median price is $389,000.

With demand outpacing supply and interest rates inching up, the Orlando housing market is leaning slightly towards sellers. However, buyers can still find opportunities, especially with the increase in inventory and pending sales.

A good salary in Florida can range from $50,000 to $100,000 or more, depending on various factors.

Cape Coral on the state's Gulf Coast was listed as the most overpriced Florida area, ranked third at 38.9%. Other Florida cities on the Top 100 list: Tampa (4th most overvalued), Palm Bay (7th), Lakeland (8th), Orlando (9th), North Port (12th), Deltona (13th) and Jacksonville (25th).

Orlando cost of living: $100,298 to live 'comfortably,' study says | Commentary.

Where is the most expensive place to live in Orlando Florida? ›

Another reason Texas and Florida are currently considered buyers' markets is an increase in new construction. “Strong construction in many of these markets has helped restore inventory levels,” according to Zillow.

If you're considering buying a home in Orlando, you'll see the current median sale price for a home is $370,000, as of June. According to Redfin's recent study, the estimated median monthly mortgage cost is $2,966 while the average rent price in Orlando is $2,566.

Moving to Orlando to retire? O-Town and the suburbs of Orlando are some of the best places to live in Florida! The Sunshine State has been named one of the best places to retire because of the lack of taxes on retirement benefits and advantages like amazing year-round weather.

Orlando, Florida Property Taxes

The average property tax rate in Orlando is 1.31%, slightly higher than the county average of 1.30%. Property taxes are based on the assessed value of the property, which is determined by the local government.

ORLANDO, Fla.

There's a critical shortage of available units in Orlando, and according to a new report, the U.S. is at risk of losing nearly 200,000 rentals for cost-burdened families over the next five years.

While many people are worried about a housing market crash this year, Ramsey Solutions said it's unlikely. In fact, Florida homes might actually increase in cost, which is good news for sellers.