***Published on 1st May 2025***

April “answers”  from the Resort Area Market... 

The March median price was up at $399,000 from the February figure of $397,900,  but remains down 1% from the March 2024 median price of $404,000. A closed home during the month achieved an average of 97.3%  of its final listed price, which was up from 97.1% in February but down from the 98.0% level being achieved one year ago.  During March, the average number of days it took to close a home was 123, while the average days on market were 91, which compares to 85 days in February and a 78-day average over the last 12 months.   Total closings during March were 311, which was 63 above the February total of 248, but down from the 396 sales recorded in March 2024.   The number of homes pending under offer or contract across the market stood at 349, up from 327 in February.   During the month, the market witnessed 312 homes withdrawn from the market, having failed to sell.  Overall resort area inventory levels stood at 3,480, which compares to 2,800 listings offered back in March 2024.  The market's overall inventory, when reviewed against the actual current pace of sales, indicates a record 11.1-month inventory supply, down from 11.0 months the previous month but considerably higher than the 7.1-month level recorded back in March 2024.  

Orlando...

The Orlando real estate market saw 791 home sales, with 49% of these selling within 30 days, while 26% took 30-90 days, and 25% took longer. Homes recorded price reductions in 17.5% of listings, the highest share since 2016.   The number of homes for sale increased 28.5% year-over-year, marking the 17th consecutive month of inventory growth in Orlando.  The median home price in Orange County was $430,046 in March 2025, which is a 4% increase from the previous year.   

Florida... 

The Florida March housing market and first quarter (Q1) of 2025 reported more new listings, increasing levels of inventory and easing median prices compared to a year ago, according to Florida Realtors®’ latest housing data. Closed sales of existing single-family homes statewide totalled 23,128, down 1.3% year on year, while existing condo-townhouse sales totalled 8,414, down 9.8% compared to March 2024.  For Q1 of 2025, statewide existing single-family home sales totalled 56,209, down 1.9% from Q1 of 2024, while statewide existing condo-townhouse sales totalled 20,704, down 9.2% from the same quarter a year ago.  The statewide median sales price for an existing single-family home was $412,500, down 1.9% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $315,000, down 4.5% over the year-ago figure.  For Q1 2025, the statewide median price for single-family homes was $414,555, a slight decrease of 0.1% year-over-year; the statewide median price for condo-townhouse properties was $315,000, down 3.2% from the same quarter a year earlier. On the supply side of the market, new listings for existing single-family homes were up 10.8% last month compared to March 2024 and up 9.6% for the First Quarter of 2025 compared to a year earlier.  New listings for condo-townhouse units in March were up 5.8% year-over-year, and up 4.1% in the First Quarter compared to the First Quarter of 2024. Inventory (active listings) for both property categories rose in March as well as for the First Quarter of 2025. Single-family existing homes had a 5.5-month level of supply, while condo-townhouse properties had a 10.1-month supply for both timeframes.   

U.S...   

 Total existing-home sales for all home styles fell 5.9% from February to a seasonally adjusted annual rate of 4.02 million in March. Year over year, sales declined by 2.4% (down from 4.12 million in March 2024).  Total housing inventory stood at 1.33 million units, up 8.1% from February and 19.8% from the one-year-ago level of 1.11 million.  Unsold inventory sat at a 4.0-month supply at the current sales pace, up from 3.5 months in February and 3.2 months in March 2024. The median existing home price for all housing types was $403,700, up 2.7% from the one-year-ago level of $392,900.  Single-family home sales fell 6.4% to a seasonally adjusted annual rate of 3.64 million, down 2.2% from the previous year.  The median existing single-family home price was $408,000, up 2.9% from March 2024. Existing condominium and co-op sales were unchanged at a seasonally adjusted annual rate of 380,000 units, down 5.0% from one year ago. The median existing condo price was $363,000, up 1.5% from the prior year's figure of $357,700. First-time buyers accounted for 32% of all sales in March, up from 31% in February 2025 and matching the rate seen in March 2024.  Cash sales accounted for 26% of all transactions during the month, down from 32% in February and 28% in March 2024. 

According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.83% as of April 17. That is up from 6.62% one week before but down from 7.1% a year ago. 

Closing Numbers ... April 30th 2025… 

1 G.B.P…Buys  1.336 U.S.D                   -              1 U.S.D…Buys  0.748  G.B.P

1 EURO...Buys  1.136 U.S.D                   -              1 U.S.D…Buys  0.879  EURO

 1 CAN $…Buys 0.722 U.S.D                   -              1 U.S.D…Buys  1.383  CAN $ ***

U.S Federal Prime Interest Rate = 7.5%. 

 Team Donovan's monthly report on the Florida real estate market is published on the 1st of each month for absentee owners in the United States and worldwide. If you are considering selling your property now or in the future, please don't hesitate to contact us. We would be delighted to discuss the marketing of your property in more detail.