Orlando Housing Market Snapshot- September 2018

Orlando housing market september

Orlando median home price continues to gain amid sales slowdown

The year-over-year median price for Orlando homes sold during the month of August continued on its years-long upward trajectory, albeit at a slower pace as dwindling inventory takes its toll on sales.

“Like across much of the country, sales are sliding in Orlando as would-be buyers are either priced out of the market or are deciding to postpone their search until more homes come on the market,” explains ORRA President Lou Nimkoff.

“Fortunately for us, our housing market is bolstered by a healthy economy, prices that compare favorably to other major cities, and a quality of life that attracts an influx of new residents by the thousands each year. In addition, our market benefits from international homebuyers who look to Orlando for investment and vacation properties.”

The overall median price of Orlando homes (all types combined) sold in August is $231,000, which is 2.7 percent above the August 2017 median price of $225,000 and 1.7 percent below the July 2018 median price of $235,000.

Year-over-year increases in median price have been recorded for the past 86 consecutive months; as of August 2018, the overall median price is 100.0 percent higher than it was back in July 2011.

The median price for single-family homes that changed hands in August increased 4.9 percent over August 2017 and is now $255,000. The median price for condos increased 12.0 percent to $125,975.

Sales and Inventory

Sales of single-family homes (2,583) in August 2018 decreased by 6.7 percent compared to August 2017, while condo sales (440) increased 3.3 percent year over year.

Sales of distressed homes (foreclosures and short sales) reached 121 in August and are 40.7 percent less than the 204 distressed sales in August 2017. Distressed sales made up just 3.6 percent of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in August (7,808) represents a decrease of 11.6 percent when compared to August 2017, and a 3.8 percent increase compared to last month. There were 10.2 percent fewer single-family homes and 8.5 percent fewer condos.

Current inventory combined with the current pace of sales created a 2.3-month supply of homes in Orlando for August. There was a 2.2-month supply in July 2018 and a 2.5-month supply in August 2017.

The average interest rate paid by Orlando homebuyers in August was 4.57, down from 4.59 percent the month prior.

Homes that closed in August took an average of 49 days to move from listing to pending, and took an average of 85 days from listing to closing.

Pending sales in August are down 21.4 percent compared to August of last year and are down 6.1 percent compared to last month.


This continues to be a challenging time for buyers in a market where prices are high and options are low. At Waypointe, you have access to properties not listed publicly as well as get properties before they come on the market. Buyers need the assistance of REALTORS to help them compete against other buyers, for example by crafting attractive offers that take into consideration current appraisal issues and advising on contingencies, in addition to assistance through the many traditional functions that a buyers’ agent performs. Ready to start the home buying process? We can help! Contact us today.


Inventory continues to drop and prices are steady, it’s a great time to sell, while being realistic with the value of your property! However, sellers should be aware that while selling their home is likely to be quick (particularly in the lower price categories) securing a new residence could be a challenge and requires the assistance of a REALTOR. Those seeking to move up into larger, more expensive homes will have more choices and less competition than those seeking to downsize. If you would like to know the value of your home, we would love to help. Contact us today!

Difference Between a Real Estate Agent and a Realtor

Real Estate Agent vs. Realtor

When it comes time for you to buy a house, you might want to enlist the help of a professional. Buying a house or business property is a big deal. Before you make that leap of commitment, though, there are a few clarifications that need to be made concerning the types of real estate professionals out there.
You’ve probably heard both the terms, realtor and real estate agent, used interchangeably. While they might sound very much the same, there’s a few key differences to each term that you should be aware of. Contrary to popular belief, “Realtor” is not just a simplified nickname for “real estate agent.” Both terms refer to a different type of person who sells real estate. While both terms indicate that the person is licensed to sell real estate, each title refers to a different type of real estate professional. Simply put, a real estate agent is someone who’s licensed to help people buy and sell commercial and residential real estate while a Realtor is someone is who is not only licensed to do the same but is also a member of a trademarked association, the National Association of Realtors. In order to become a Realtor, a real estate agent must become part of this association.
In a nutshell, you can be a licensed real estate agent and NOT be a Realtor, but all Realtors must be licensed professionals.

Requirements to Become a Realtor


You might assume that in order to become an Orlando Realtor, the professional must first be a real estate agent, but that’s not necessarily true. Real estate agents, property managers, appraisers and even real estate counselors and other professionals can become Realtors, but they must be licensed in their field by the State of Florida. To join, they simply have to locate their local National Association of Realtors office, pay the one-time application fee and then wait for approval of their applications by the Board of Directors.

Of course, there’s some prerequisite requirements prior to getting approved, some of which include the following:

  • Hold a valid real estate license
  • Be active in the real estate community
  • Have no record of official sanctions involving a breach in professional conduct
  • Have no recent or pending bankruptcy
  • Complete ethics training and continuing education requirements

Also, the principal of their organization must join first before you they can join. (The principles are basically the owners of the real estate company the real estate agent works for, such as the sole proprietor, partners and corporate owners.)

Realtor Code of Ethics

Because the National Association of Realtors is an organized association, it naturally has certain rules and etiquette that must be upheld by members in order for them to remain in the association. This code of ethics is what allegedly separates realtors from non-member real estate agents. The entire code consists of 17 articles, 131 explanatory case interpretations and 71 supporting standards. Like the Constitution and many other documents, the National Association of Realtors’ Code of Ethics is a living document that’s been changed and amended many times as necessary over the years. Basically, the Code of Ethics demands that Realtors respect one another and their relationships with clients and that they work together to further the best interest of their clients.

Why Would You Want a Realtor?

While a real estate agent can help you buy and sell property without being a Realtor, having a Realtor just gives you that extra edge. Just like enrolling as a member of any other prestigious organization does, being a member of the National Association of Realtors shows clients that the agent holds himself or herself to a higher level of standards and that they’re truly committed to your profession, a particular code of ethics and what it stands for. You can be more assured that a Realtor will go out of his or her way to protect your interests.

Get a Realtor Today!


If you’re getting ready to buy or sell a house and want to get the best financial outcome, consider contacting one of your Waypointe Realtors today!

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