ORLANDO REAL ESTATE MARKET NEWS - December 2024 - Published - 1st January 2025
Published January 1st 2025
December "data" from the Resort Area Market...
The last Team Donovan sales activity report for 2024 reveals that the median Price of a resort area home fell 2.7% over the past 12 months, from $406,495 in December 2023 to $399,900 twelve months later. The resort area inventory was up 14.1% from January 2024 from 2,767 listings to the 3,216 total currently available. The average number of days on the market that a home took to close in December was 120, compared to 98 days a year ago. A home that closed during the Month did so at an average of 97.9% of its listed Price, from an average of 98% twelve months ago. During the month, the market saw 268 homes withdrawn after failing to sell, down from the 312 withdrawn listings during the first month of 2025. The pipeline number of homes under offer/pending closure stood at 409, down from the 482 pipeline last December. Total closings during the last month of 2024 of 292 was identical to the December 2023 total. The year ends with the total number of available listings, when considered against the current sales pace at a 11.0-month supply, down from the 11.4 month level in November but significantly up on the 5.4 month supply offered in the market during December 2023.
Looking Back ... 2024... Key Performance Numbers At A Glance…
| MONTH | ACTIVE | D.T.C. | SP/LP | MEDIAN PRICE | PEND | SLD | SUPPLY |
|---|---|---|---|---|---|---|---|
| JANUARY | 2767 | 105 | 97.6% | $404,419 | 611 | 281 | 9.8 |
| FEBRUARY | 2775 | 105 | 97.8% | $402,500 | 690 | 359 | 7.7 |
| MARCH | 2800 | 105 | 98.0% | $404,000 | 684 | 396 | 7.1 |
| APRIL | 2867 | 107 | 97.5% | $402,949 | 734 | 408 | 7.0 |
| MAY | 2959 | 109 | 98.1% | $404.000 | 676 | 444 | 6.6 |
| JUNE | 3468 | 111 | 97.5% | $403,900 | 644 | 401 | 8.6 |
| JULY | 3157 | 112 | 98.0% | $400,000 | 550 | 412 | 7.7 |
| AUGUST | 3161 | 114 | 97.8% | $400,000 | 523 | 326 | 9.7 |
| SEPTEMBER | 3217 | 114 | 98.0% | $400,000 | 530 | 340 | 9.4 |
| OCTOBER | 3213 | 115 | 98.3% | $400,000 | 497 | 305 | 10.5 |
| NOVEMBER | 3235 | 116 | 97.6% | $399,900 | 295 | 283 | 11.4 |
| DECEMBER | 3216 | 120 | 97.9% | $399,900 | 409 | 292 | 11.0 |
Active = Active listings as of the 25th of each respective Month.
DTC = Days to home securing a contract.
SP/LP = Average Price attained compared to asking Price and expressed as a %.
Median Price = Median Price across the resort area communities.
PEND = Homes recorded as under offer/contract at the respective Month's end.
SLD. = Homes that sold or closed during the indicated Month.
Supply = The total supply of available inventory based on the respective Month's sales pace.
Closing Numbers ... December 31st 2024
1 G.B.P…Buys 1.254 U.S.D - 1 U.S.D…Buys 0.796 G.B.P.
1 EURO...Buys 1.040 U.S.D - 1 U.S.D…Buys 0.960 EURO
1 CAN $…Buys 0.696 U.S.D - 1 U.S.D…Buys 1.434 CAN $
***
U.S. Federal Prime Interest Rate = 7.50%
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 do feel free to contact us; we would be delighted to discuss the marketing of your property in more detail.