ORLANDO, Fla. — For the first time since the pandemic, the Central Florida housing market has officially shifted in favor of buyers, with new data showing more than half of all price-reduced homes in the region sitting on the market for at least two months.
According to the latest Price Reduction Report from the Homes In Orlando Team, there are currently 1,394 active price-reduced listings across Orange, Seminole, Volusia, and Lake counties. Of those, 753 homes — that’s 54 percent — have been on the market for 60 days or longer. This marks the first time the “leverage tier” has crossed the majority line in the four-county dataset.
Volusia County leads the region with the highest percentage of stale listings, with nearly 59 percent of its 335 price-reduced homes sitting past the 60-day mark. Lake County follows with 54.8 percent of its 354 listings in the same category. Orange County crossed the 50 percent threshold this week, while Seminole County has the lowest stale-share rate at 47 percent.
So why the shift? Real estate agent Brenden Rendo with the Homes In Orlando Team says migration to Central Florida has slowed dramatically. “Even though we are still seeing growth of people coming in, if you look at the numbers from the pandemic, we’re down roughly 93% people moving to Orlando and the area. So our growth has decreased. It’s still up, but it’s decreased a lot,” Rendo said.
During the pandemic, buyers routinely faced bidding wars with dozens of offers. That’s no longer the case. “For the median, median income family, it is a buyer’s market,” Rendo said. Current data shows there are roughly 40 to 60 percent more sellers than buyers in the region, eliminating the fear of missing out that drove the market during the pandemic.
For buyers, this means real leverage to negotiate price, request closing cost credits, request repair credits, or even ask for rate buydowns and timeline concessions. “The days of automatic bidding wars are gone,” Rendo said. “Don’t negotiate from fear that you’re going to miss out. There will be another house.”
For sellers, the message is clear: price it right from the start, or expect it to sit. Reynaldo Sanchez, a third-generation builder and real estate investor, says pricing requires careful local analysis. “Well, the thing is, it depends on the product and it depends on the market, because every market is localized, and every price needs to be looked to the scope of the market you are selling,” Sanchez said.
Sanchez notes that while regional inventory is high, well-priced, move-in-ready homes in the right neighborhoods still sell quickly. However, sellers who overprice or have homes that need work are seeing their listings linger.
With average price reductions ranging from 3.20 percent in Orange County to 3.70 percent in Volusia County, and homes sitting an average of 60 to 100-plus days, the message is clear: Central Florida’s housing market has fundamentally shifted. For buyers willing to be patient and do their homework, opportunities abound. For sellers, realistic pricing and proper preparation are more important than ever.
For the full county-by-county breakdown with city-level data, visit the Homes In Orlando Team website at www.homesinorlando.forsale.move-in-ready
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