Central Florida Real Estate Weekly Market Report: October 8 - October 14, 2023

 

The weekly sales of single-family homes increased slightly from the prior week and is less than the same week last year (356 vs 440) and is also less than the same week for 2021 (356 vs 575).  The number of single-family homes sold this year is less than the two prior years.

The median sale price of single-family homes increased to $422,500.  Up from the median sale price last week of $409,000.  for the same week in 2022, the median sale price was $411,500 and for 2021 was $370,000.

The inventory of single-family homes currently sits at 5,051 and continues to rise week-over-week.  This week last year, the inventory was 4,998 and for 2021 was 2,806.

The days of inventory, or absorption rate is approximately the same as last week.  The absorption rate is a function of the current inventory of single-family homes divided by the average number of daily sales.  The result tells us how many days it will take to sell the inventory available on the market.  There is currently 99 days of inventory on the market.  This week last year, there was 80 days, and for 2021 there was 34 days.