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Orlando Area Residential Real Estate Snapshot for July 2024

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ORLANDO, Fla. (FNN) – New Orlando Regional REALTOR® Association data shows market continues to stabilize for homebuyers as inventory increases for seventh month in a row.

State of the Market

  • July’s interest rate was recorded at 6.6%, down from 6.7% in June.
    • In ORRA’s new survey of Orlando REALTORS, 52% of respondents cited interest rates as the top challenge for buyers, causing some buyers to wait out purchasing homes right now or look at lower price points.
  • The median home price for July was recorded at $390,000, down from $395,000 in June. June was the highest monthly median home price on record in the Orlando area.
    • Home prices were cited as the second biggest issue facing buyers in ORRA’s new survey.
  • Inventory for July was recorded at 11,158, up 3.4% from June when inventory was recorded at 10,796. This is the seventh month in a row inventory has risen. The last time inventory was this high was November 2015.
    • Inventory in July 2024 was 95.1% higher than in July 2023.
  • Overall sales rose 2.0% from June to July. There were 2,652 sales in July, up from 2,601 sales in June.
  • Pending sales rose by 1.5%, with 3,940 in June and 3,999 in July.
  • New listings fell 1.8% from June to July, with 4,067 new homes on the market in July, compared to 4,143 in June.
  • Homes spent an average of 55 days on the market (DOM) in July – up from 54 in June. This is 41.0% higher than July 2023 when homes spent an average of 39 days on the market.
    • 72% of survey respondents reported that most homes are moving from sale to pending in 21+ days, up significantly from last year.
  • “July represented another strong month in the housing market as many families worked to squeeze in their moves before the start of the new school year. We continued to see an increase in inventory and sales as the Orlando housing market continues to stabilize,” said Rose Kemp, Orlando Regional REALTOR® Association President. “Interest rates are still holding steady in the mid-upper 6.0% range. The current market conditions offer more options for buyers along with new potential negotiating opportunities. Realtors are key to the success of a buyer and seller transaction.”

Market Snapshot

  • Interest rates fell from 6.7% in June to 6.6% in July.
  • Pending sales rose 1.5%, with 3,940 in June and 3,999 in July.
  • 25 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in July. This is the same number of distressed homes that sold in June.

Inventory

  • Orlando area inventory rose 3.4% from June to July. Inventory in June was 10,796, and inventory in July was 11,158.
  • The supply of homes rose to 4.21 months in July, up 1.4% from 4.15 months in June. A balanced market is six months of supply.
  • The number of new listings decreased from June to July by 1.8% – from 4,143 homes to 4,067 homes.

ORRA’s full State of the Market Report for July can be found here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

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Central Florida News

Puerto Rican Chamber President Jorge Figueroa Announces Bid for House District 47 Seat in Osceola County

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Puerto Rican Chamber President Jorge Figueroa Announces Bid for House District 47 Seat in Osceola County

OSCEOLA COUNTY, Fla. (FNN) — Jorge Figueroa, president of the Puerto Rican Chamber of Commerce of Central Florida and a longtime economic advocate, has officially entered the race for the Florida House, seeking to represent voters in the St. Cloud–Osceola County region.

Figueroa said his campaign will center on affordability, property insurance reform, and expanding economic opportunity for working families. His announcement comes as Democrats continue efforts to flip the district after recent unsuccessful attempts, including in House District 47.

“I’m running to make Florida more affordable for working families and small business owners,” Figueroa said. “I grew up in public housing in Puerto Rico and came to the mainland at 16 to chase opportunity. My parents sold everything they owned so I could get an education—a sacrifice that changed my life.”

As president of the Puerto Rican Chamber of Commerce, Figueroa has worked with hundreds of entrepreneurs, helping small businesses grow and strengthening economic pathways for local families. He said too many Floridians continue to struggle with skyrocketing property insurance costs, unaffordable rent, and rising prices for essentials such as groceries and gas.

The seat—representing a key portion of Osceola County—has become increasingly competitive in recent cycles, and Democrats hope Figueroa’s business background and personal story will energize voters ahead of the 2026 election.

Democrat Anthony Nieves, a former state financial crimes investigator is running again for Florida House District 47 seat.

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Business

La’Tonya Stark Named Vice President of Engagement at Orlando Regional REALTOR® Association

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La'Tonya Stark Vice President of Engagement (Oversees Marketing & Communications, Business Development, Events, Community Relations, Sponsorships & Statistics) for Orlando Regional REALTOR® Association

ORLANDO, Fla. (FNN) — Florida National News was the first media outlet to learn—during an exclusive one-on-one interview—that La’Tonya Stark has been appointed Vice President of Engagement for the Orlando Regional REALTOR® Association (ORRA), as confirmed by CEO Cliff Long.

In her new role, Stark will oversee all areas of marketing, communications, philanthropy, community outreach, events, and business development for the major real estate trade association. She brings more than 20 years of experience in marketing and communications, having served in key roles at major Florida brands including Disney Destinations, Wyndham Worldwide, and Holiday Inn Club Vacations.

Stark also has an extensive military background, serving more than 12 years as a Public Affairs Officer in the U.S. Navy. She earned her bachelor’s degree in journalism and public relations from the University of Central Missouri and later completed her master’s degree in administration with a concentration in human resources at Central Michigan University, according to ORRA’s website.

Florida National News Managing Editor Monica Hoyos secured the impromptu exclusive interview with Stark during ORRA’s annual Veterans Day Celebration held at the organization’s World Headquarters in Orlando.

Stark Expresses Excitement About New Leadership Role

During the interview, Stark shared her enthusiasm about stepping into the Vice President of Engagement role, describing it as an opportunity to expand ORRA’s community impact and member engagement. She also highlighted her passion for leadership development and elevating the real estate industry through strong communications and outreach.

A Veteran’s Story: Service, Leadership, and Style

Stark discussed her career in the U.S. Navy, where she refined her public affairs and leadership expertise. She also noted her love for professional fashion, often being recognized as a trendsetter within the industry.

Florida National News captured WWII veteran Sallie Amato’s speech at ORRA’s Annual Veterans Luncheon, where the organization also wished her a happy 102nd birthday. Photo by J Willie David, III / Florida National News.

ORRA’s Growing Support for Military Members

Stark also spoke about ORRA’s commitment to veterans, including the launch of its annual Veterans Day Celebration and the importance of doing business with ORRA. She encouraged veterans and military-connected professionals to join ORRA’s Military Council, which plays a key role in community service and advocacy.

_______________________________________________________________________________________________________

J Willie David, III | News@FloridaNationalNews.com

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Central Florida News

Osceola Magic Set Franchise Record in 43-Point Blowout Win Over Birmingham Squadron 120-77

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KISSIMMEE, Fla. (FNN SPORTS) — The Osceola Magic (4-0) continued their dominant start to the season Friday night, setting a new franchise record for the largest margin of victory in a commanding 120-77 win over the Birmingham Squadron (1-3) at Osceola Heritage Park. The previous record was a 38-point win, achieved when the Lakeland Magic defeated the Cleveland Charge 129-91 in March 2022.

Javonte Smart delivered another standout performance, erupting in the fourth quarter with 12 points on 4-of-6 shooting, all from three-point range. The former LSU guard finished with 26 points, knocking down eight of the Magic’s 18 made threes.

For Birmingham, Hunter Dickinson posted a strong double-double with 16 points and 16 rebounds, while Chase Hunter added 15 points off the bench.

Osceola showcased exceptional depth, with seven players scoring in double figures. Orlando Robinson, the Magic’s two-way player, recorded his second double-double in as many games with 17 points and 13 rebounds.

Coach Dylan Murphy on Javonte Smart

“Javonte plays with supreme confidence, and we have that confidence in him. He knows what the right shots are, and even when he’s got it going, he still makes the right plays. I’m proud of him and how he’s been playing to start the season—and obviously, we need him.”

Up Next

The Magic close out their November homestand on Sunday, November 16, when they host the Squadron again at Osceola Heritage Park. Tip-off is at 3 p.m. ET. The night will feature Orlando Magic Night, presented by AdventHealth and Rothman Orthopaedics. The first 1,000 fans in attendance will receive an exclusive Osceola–Orlando Magic reversible replica jersey.

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