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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

Orange County Arts & Cultural Affairs Presents ‘HYPE HAIR’ Exhibit by Peppermint Sandy in Downtown Orlando

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ORLANDO, Fla. (FNN) — Orange County Arts & Cultural Affairs will present “HYPE HAIR,” a new exhibition by multidisciplinary artist Peppermint Sandy, in the Atrium Gallery at the Orange County Administration Center in downtown Orlando.

The exhibit will be on display from June 11 through June 25, 2026, showcasing Sandy’s wearable sculptures and mixed-media works that explore beauty, fashion, culture, and identity through the lens of Black hair and lived experiences.

Opening Reception Scheduled June 11

An opening reception will be held Thursday, June 11, 2026, at the Orange County Administration Center.

  • Doors open at 5 p.m.
  • Program begins at 5:45 p.m.
  • Admission is free
  • Advance registration is requested

Exploring Beauty, Culture and Identity

Peppermint Sandy is a multidisciplinary artist whose work incorporates fabric, hair, textiles, and mixed media to examine cultural and societal perceptions of beauty, fashion, and personal identity.

“HYPE HAIR is a series of wearable sculptures inspired by not just my relationship with Black hair, but a dedication and love letter to all Black women and girls everywhere with our hair as well,” Sandy said. “From the beginning of time, Black hair is not only art, but a form of communication.”

The exhibition highlights the artistic, historical, and cultural significance of Black hair while celebrating self-expression and identity through contemporary art.

Exhibit Information

The exhibition will remain on display through June 25, 2026, in the Atrium Gallery at the Orange County Administration Center, located at 201 S. Rosalind Ave. in downtown Orlando.

The Administration Center is open Monday through Friday from 8 a.m. to 5:30 p.m., excluding holidays.

The exhibit is presented by Orange County Arts & Cultural Affairs as part of its ongoing commitment to showcasing diverse artistic voices and cultural perspectives throughout Central Florida.

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Central Florida News

Puerto Rican Business Owner Tatiana Fernandez running for Orange County Commission District 8

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ORLANDO, Fla. (FNN) — The Orange County Board of County Commissioners recently approved a new District 8 seat to address the county’s continued population growth and expanding communities.

Tatiana Fernandez officially entered the race for the newly created Orange County Commission District 8 seat after announcing her candidacy on social media and filing the necessary paperwork with the Orange County Supervisor of Elections.

Fernandez Highlights Business, Advocacy, and Community Leadership Experience

Fernandez, a Puerto Rican-born business owner, autism advocate, and community leader, said her campaign is focused on strengthening families, supporting small businesses, and expanding opportunities throughout Orange County.

“Latinos are shaping the future of America,” Fernandez stated in her campaign announcement. “Together, we can build stronger communities, greater opportunities, and a brighter future for our children.”

Fernandez currently serves on the Orange County Commission on Aging Board, where she advocates for programs and services benefiting seniors throughout the county.

Her professional and community background includes:

• Business owner since 2015 with extensive experience in entrepreneurship and business development.

• Owner of Pantera Technical Services, a Women-Owned Small Business (WOSB) headquartered in Daytona Beach, Florida.

• On-the-job training provider for Florida Vocational Rehabilitation students since 2019.

• Autism advocate serving families in Seminole County since 2007.

• Fully bilingual in English and Spanish.

• Born and raised in Puerto Rico.

• Resident of Florida since 2004 after living in Boston from 1994 to 2000.

• Academic studies in banking, pre-law, finance, government relations, and healthcare administration.

• Volunteer with the Lake Mary High School Robotics Program from 2017 to 2020.

• Registered volunteer for former Florida State Representative Daisy Morales in both Orlando and Tallahassee offices.

• Candidate for Florida’s 7th Congressional District during the 2022 and 2024 election cycles.

Campaign Focused on Families, Seniors, and Small Businesses

Fernandez said Orange County residents deserve leadership that listens to the community and understands the challenges facing working families, senior citizens, and small-business owners.

“Our community deserves leadership that listens, works hard, and truly understands the needs of families, seniors, and small businesses,” Fernandez said. “I look forward to continuing to serve Orange County with integrity, compassion, and dedication.”

She is encouraging supporters to volunteer, share campaign information, and contribute to her effort to represent the newly established district.

Crowded Field Emerges for New District 8 Seat

Fernandez joins a growing field of candidates seeking election to the new Orange County Commission District 8 seat. Other announced candidates include Vic Torres, Jeannette Quinones-Hernandez, Isaiah Louis Anderson, Julio Rocha, and George Haas.

Candidate qualifying is scheduled for June 8-12, 2026. The primary election will be held on August 18, 2026, with voters selecting the first commissioner to represent the newly created district.

The District 8 seat is expected to be one of Orange County’s most closely watched races as candidates compete to represent a rapidly growing and increasingly diverse constituency.

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Central Florida News

FNN Honors Teen Reporter Isabella Schmitt as She Graduates and Pursues Communications Degree

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ORLANDO, Fla. (FNN) — Florida National News proudly celebrates Isabella Schmitt as she marks an important milestone with her high school graduation and prepares to begin an exciting new chapter pursuing Communications in college.

Over the years, Isabella has represented the next generation of young voices with professionalism, creativity, determination, and passion.

Through reporting opportunities, community involvement, and media experiences, she has continued to shine both on and off camera while inspiring others through her dedication and work ethic.

Jenny Rosario, Vice President of Florida National News, praised Isabella’s accomplishments and bright future ahead.

“Watching Isabella grow both personally and professionally has been truly inspiring,” Rosario said. “She represents the future of journalism, communications, and storytelling. Her passion, confidence, and commitment to making a positive impact through media are remarkable, and we are incredibly proud of all she has accomplished.”

Rosario added that Isabella’s decision to pursue Communications in college is a natural next step for someone with such strong talent and determination.

“The world of media and communications needs more young voices like Isabella’s,” Rosario said. “We know this is only the beginning of many great accomplishments to come.”

Florida National News congratulates Isabella Schmitt and the entire Class of 2026 on this exciting achievement.

“Keep dreaming big and telling stories that matter,” Rosario added.

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