Central Florida News

Orlando Area Residential Real Estate Snapshot for July 2024

Published

8 months ago

September 1, 2024

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.

Central Florida News

Orange County Launches Month-Long Earth Day Celebration with Eco-Friendly Events

Published

3 weeks ago

April 2, 2025

FNN NEWS

ORANGE COUNTY, Fla. (FNN) – In honor of Earth Day on April 22, Orange County is transforming April into a month-long celebration of sustainability, conservation, and environmental education. Residents and visitors will have access to a wide range of activities designed to promote eco-friendly practices and raise awareness about protecting natural resources.

Earth Month 2025: A Community Effort to Preserve the Planet

Throughout April, Orange County will host interactive events, workshops, and educational programs aimed at fostering a greener future. The initiative highlights the County’s commitment to environmental stewardship, conservation, and sustainable living.

Key Activities Include:

Eco-Scavenger Hunt: Engage in a fun and interactive challenge to explore nature and sustainability efforts across the county.
Florida-Friendly Landscaping Workshops: Learn how to create a beautiful, low-maintenance garden using native plants and water-efficient techniques.
Water Conservation Classes: Gain valuable tips on reducing water waste and improving efficiency at home.
Beginner Beekeeping Workshops: Discover the essential role of bees in the ecosystem and learn how to start your own hive.
Oyster Mushroom Cultivation: Learn how to grow your own nutritious mushrooms at home.
Spring Vegetable Gardening: Get expert advice from the University of Florida Orange County Extension Office (UF/IFAS) on growing seasonal vegetables.

Join the Movement for a Greener Future

The month-long Earth Month celebration encourages Orange County residents to take action by adopting eco-friendly habits and participating in educational programs that support sustainability.

For a full list of events and registration details, visit www.ocfl.net/EarthMonth.

Stay tuned to Florida National News for updates on Orange County’s Earth Month 2025 initiatives.

Central Florida News

2026 Orange County Mayor’s Race Heats Up: Tiffany Moore Russell Declares Candidacy

Published

3 weeks ago

April 2, 2025

Willie David

Orange County Clerk of Courts Tiffany Morre Russell speaks at the Orange County Board of County Commissioners. Photo by Florida National News / J Willie David, III

ORANGE COUNTY, Fla. (FNN) – Orange County Clerk of Courts Tiffany Moore Russell has officially filed paperwork to run for Orange County Mayor in the 2026 election, according to the Orange County Supervisor of Elections website. Russell, a trailblazing leader in local government, seeks to succeed Mayor Jerry Demings, who will complete his final term in 2026.

Russell’s Historic Leadership in Orange County

Russell is no stranger to breaking barriers. In 2014, she made history as the first African American female Clerk of Courts elected in Florida and the first African American Clerk in Orange County. Before that, she served as the District 6 Orange County Commissioner, first elected in 2006 at just 27 years old, making her the youngest commissioner ever elected in the county. She successfully served two terms on the commission, advocating for economic development, public safety, and affordable housing.

As Orange County Clerk of Courts, Russell has led efforts to modernize the court system, improve public access to legal services, and enhance transparency in county government. Under her leadership, the Clerk’s Office has expanded online services, improved efficiency, and increased community engagement through outreach programs.

The Role of Orange County Mayor

The Orange County Mayor is one of the most powerful local government positions in Central Florida, overseeing a $4.4 billion budget and more than 8,000 county employees while serving a population of approximately 1.5 million residents.

With Mayor Demings unable to seek re-election due to term limits, Russell’s candidacy sets the stage for a highly competitive race. Other potential contenders include:

Former U.S. Congresswoman Val Demings, who previously considered a run in 2014 but later dropped out.
Former U.S. Congresswoman Stephanie Murphy.
Orange County Commissioner Mayra Uribe.
Former Orange County Commissioners Emily Bonilla and Scott Boyd.
Former Orange County Property Appraiser Rick Singh.

Looking Ahead to 2026

Russell’s deep-rooted experience in public service and history-making leadership make her a formidable candidate in the non-partisan race. As the campaign unfolds, voters will look for candidates with strong leadership, financial management expertise, and a vision for Orange County’s future.

Stay connected with Florida National News for updates on the 2026 Orange County mayoral race.

________________________________________________________________

J Willie David, III
Florida National News and FNN News Network
News@FloridaNationalNews.com

Central Florida News

Congressman Maxwell Frost Takes Questions on Economy, Education, and Federal Cuts in Orlando Reddit AMA

Published

3 weeks ago

April 2, 2025

FNN NEWS

ORLANDO, Fla. (FNN) – Congressman Maxwell Alejandro Frost (FL-10) took to Reddit’s r/Orlando community this past Friday for an Ask Me Anything (AMA) session, addressing Central Floridians’ concerns on inflation, federal funding freezes, and the future of the Democratic Party. The discussion garnered over 81,000 views, 1,000 upvotes, and more than 350 comments and questions from local residents.

Congressman Frost on Economic Policy & Rising Costs

One Reddit user asked: Do House Democrats have a plan to offer an alternative to Trump’s economic policy?

Congressman Frost responded:

“We can’t just oppose Trump’s billionaire takeover—we must provide our vision. People don’t want marginal improvements, they want bold, transformational change.
Expanding Medicare so no one must choose between medical bills and rent.
Increasing affordable housing and enacting strong renter protections.
Holding corporations accountable for price gouging and price fixing.
Raising the minimum wage so workers aren’t stuck with $7.25 an hour.
We have a popular agenda, and we must fight to reclaim the narrative. While Republicans cover up their SignalGate scandal, Democrats are working to lower costs. I’ve championed price-lowering legislation to reduce property insurance costs, grocery prices, rental fees, and prescription drug costs, including capping EpiPen prices.”

Concerns Over Federal Education Cuts & Public School Support

Another Orlando resident expressed concerns over federal funding cuts to Title I schools, fearing that many students will lose access to free lunch programs.

Congressman Frost, whose mother was a public school teacher for 37 years, responded:

“Florida’s state government is actively working to dismantle public education. Title I funding is crucial for schools serving low-income communities. In February, I marched with fellow members of Congress to the Department of Education’s doors to fight back against threats to public education.
It took Department of Homeland Security officers in body armor to keep us out. That should tell you how serious this is.
Parents, teachers, and school administrators must pressure elected officials at all levels to oppose Trump’s efforts to dismantle the Department of Education. A strong federal education system is more important than ever.”

Food Insecurity: Second Harvest’s Government Support Cut

A Reddit user voiced concerns over Second Harvest Food Bank losing federal food shipments, which impacts over 300 local food pantries, churches, and shelters that rely on their support.

Congressman Frost assured residents that he is taking action:

“This week, the Trump Administration canceled federal food shipments to Second Harvest, and it’s likely not a temporary cut. Hunger is a devastating crisis, affecting both physical and mental health.
I was able to secure $200,000 for Second Harvest to help offset their energy costs for food storage, but I will continue fighting for more resources to ensure families in our district don’t go hungry.”