Orlando Real Estate Market News - January 2023
Published January 1st 2023
December "data" from the Resort Area Market...
The final Team Donovan review of 2022 reveals that the median price of a resort area property has increased 26.6% over the past 12 months rising from $286,600 last December to $363,100 a year later. Total resort area inventory has risen significantly over the same period from just 385 listings a year ago to 1115 homes available now. The average number of days on the market that a home took to close during December was 67, compared to the 66 day total in November and the 84 days it took during December 2021. A home closing during the month did so at an average of 100.01% of its listed price, which compared to an average of 99.4% twelve months ago. December saw 128 homes withdrawn from the market having failed to sell, which was 76 higher than the 52 withdrawn listings during the corresponding month a year ago. The pipeline number of homes under offer/pending closure stood at 429, a 69.4% decrease on the 684 pipeline total of twelve months ago. Total sales during the month of 296 were down slightly from the previous months' 298 closings but significantly lower than the 483 sales recorded during December 2021. The year ends the total number of available listings when reviewed against the current pace of sales, indicates a 3.8-month supply in December, which was the same as November 2022 but much up on the 0.8-month supply offered during December 2021.
Looking Back ... 2022... Key Performance Numbers At A Glance…
| MONTH | ACTIVE | D.T.C | SP/LP | MEDIAN PRICE | PEND | SLD | SUPPLY |
|---|---|---|---|---|---|---|---|
| JANUARY | 273 | 61 | 99.7% | $292,300 | 751 | 418 | 0.7 |
| FEBRUARY | 250 | 63 | 99.9% | $298,800 | 817 | 448 | 0.5 |
| MARCH | 273 | 59 | 99.8% | $303,188 | 807 | 441 | 0.5 |
| APRIL | 325 | 62 | 99.9% | $310,900 | 883 | 564 | 0.7 |
| MAY | 451 | 64 | 99.8% | $319,850 | 792 | 523 | 0.9 |
| JUNE | 692 | 64 | 99.9% | $328,000 | 719 | 445 | 1.5 |
| JULY | 871 | 63 | 99.9% | $335,875 | 589 | 412 | 2.1 |
| AUGUST | 911 | 60 | 99.9% | $341,311 | 597 | 363 | 2.5 |
| SEPTEMBER | 1030 | 64 | 99.9% | $348,188 | 571 | 353 | 2.9 |
| OCTOBER | 1113 | 65 | 100.01% | $353,063 | 481 | 306 | 3.6 |
| NOVEMBER | 1128 | 66 | 100.03% | $358,875 | 476 | 298 | 3.8 |
| DECEMBER | 1115 | 67 | 100.01% | $363,100 | 429 | 296 | 3.8 |
Active = Active listings as of 25th of each respective month.
D.T.C = 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 30th 2022
1 G.B.P…Buys 1.204 U.S.D - 1 U.S.D…Buys 0.830 G.B.P
1 EURO...Buys 1.066 U.S.D - 1 U.S.D…Buys 0.937 EURO
1 CAN $…Buys 0.738 U.S.D - 1 U.S.D…Buys 1.353 CAN $
***
U.S Federal Prime Interest Rate = 7.50%
Team Donovan publishes this updated monthly report on the 1st of each month to benefit all Worldwide Central Florida absentee owners. Our community reports are updated and posted on the 15th of each month. If you are considering selling your property in the future, please feel free to contact us; we would be delighted to discuss the marketing of your own home in more detail.