The real estate market in the Orlando area witnessed a rebound in February, with a noticeable increase in sales activity and a slight rise in inventory, despite longer selling times and a decline in new listings.
Closed sales recorded a 15.5% increase on a monthly basis, reaching 1,888 transactions compared to 1,634 in January. On an annual basis, sales rose by 2.8% to 1,837 transactions compared to February of last year. Pending sales also grew by 13.8%, reaching 4,001 contracts after standing at 3,515 in January, indicating continued market momentum as the spring buying season approaches.
On the other hand, homes are taking longer to sell; properties spent an average of 83 days on the market in February compared to 81 days in January, marking the longest duration recorded since February 2015. This trend, combined with stable inventory levels, has given buyers greater negotiating power.
Meanwhile, new listings declined by 4.5% compared to January, with only 3,678 homes added to the market in February versus 3,852 in the previous month.
In terms of prices, the upward trend continued gradually, with the median home price in the area reaching $375,000 in February, a 1.4% increase from January. This reflects sustained demand from buyers despite changing market conditions.
By property type, single-family homes accounted for the largest share of activity, with 1,476 homes sold in February—an increase of 14.6% compared to the previous month and 1.2% compared to February of last year. The median price for this category reached $410,000.
Condominiums saw a significant increase of 28.8% compared to January and 16.2% year-over-year, with 237 units sold at an average price of $190,000. In the townhouse and villa segment, 175 units were sold at an average price of $305,000, unchanged from February of last year.
Distressed properties remained a small portion of the market, with short sales and bank-owned properties accounting for only 1.2% of total February sales, marking a 37.1% decline compared to January.
Overall, the data shows that the Orlando real estate market is experiencing steady improvement in sales while giving buyers more time and greater negotiating flexibility as the spring selling season approaches.
