Over the past few months, we finally began to witness an increase in our housing inventory. The first housing inventory increase since June 2019. Between May and June this year, we saw a 41.2% jump in our Orlando housing inventory, an increase from 3,851 to 5,437 homes! This rise in inventory is leading our real estate market towards a much healthier position. Although this is still a fast-paced market and homes continue to sell quickly, we are finally beginning to find balance.
This is great news for our homebuyers, who will continue to see less and less overpriced listings on their search for a new home. This is not to say we are no longer in a great sellers market, we watched June set yet another record high, the fifth month in a row where our median home prices have risen. Even with our median home prices in this market, this increase in inventory gives our buyers more freedom throughout their search and less of a chance that they find themselves stuck in a situation where the seller has too much control over the contract price.
The stabilization that we are seeing is nothing but healthy for everyone. Some of the listing prices we saw were starting to pave way for an unsustainable market for our buyers. We want both our buyers and sellers to be satisfied with the deals they’re involved in, so it’s nice to see us moving towards a market which is less seller biased, and better for both parties. At surface level, some people perceive these price drops to be the beginning of a drastic median price decrease, but the truth is that we are actually seeing an uptick in activity, and a market that is introducing healthier and more opportunities.
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