Real Estate Market Update – Vacation Home Sector – Central Florida

real estate market

This Weeks Market Snapshot – June 25, 2023 – July 01, 2023

Single-family existing homes

  • Sales of single-family homes increased to 617 during the week of June 25, from 381 the week prior
  • The median price of single family homes decreased to $430,000, a change of -1.1%
  • The number of single-family home foreclosure transactions increased to 5 last week, from 2 the week of June 18
  • The number of single-family short-sale transactions remains constant at 0
  • Single-family inventory increased by 42, and now sits at 3,911

Sales of condos, townhomes, and villas 

  • Sales of condos, townhomes, and villas increased to 199 during the week of June 25, from 142 the week prior
  • The median price of condos, townhomes, and villas increased to $290,000, a change of 6.5%
  • The number of condo, townhome, and villa foreclosure transactions increased to 2 from 0 the week prior
  • The number of condo, townhome and villa short-sale transactions increased to 1 from 0 the week prior
  • Condo inventory increased by 23, and now sits at 1,552

Graphs – Market Update

In order to understand where we are currently in the Market, let’s take a look back at Stats for the previous years. Below, we have the home SOLD in Orlando in 2021/2022/2023 so that you can see the trend in the market.

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Mortgage Interest Rate Data/ Trend

Let’s take a look at the Chart below, showing the average monthly mortgage interest rate.

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Affordability Rate

Taking a look at the Affordability index. The data shows we are just about overreaching the affordability rate, taking a lot of buyers out from the market.

In July 2023, date is showing lots of buyers are still in the market seeking property. However, however over the coming months we could see some deeper correction and changes.

If you are wishing to take advantage of the top of the market and sell your investment property to take out the balance for another investment tool, now is a great time.

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Currency Rates – Trends

For most owners of vacation homes/investment properties – they are typically return their balance funds back to their respective country – so taking a look at the currency trend and predictions is an important deciding factor for selling an investment property also.

As of June 30th 2023 – rates below.

 1 G.B.P…Buys 1.269…U.S.D – 1 U.S.D…Buys 0.787 G.B.P

 1 EURO…Buys 1.091 U.S.D – 1 U.S.D…Buys 0.916 EURO

 1 CAN $…Buys 0.775  U.S.D – 1 U.S.D…Buys 1.324  CAN $

 1 BRL $…Buys 0.208 U.S.D – 1 U.S.D…Buys 4.788 BRL $ 

U.S Prime Interest Rate = 7.50%  

BLOG : Vacay & Co Real Estate July 2023.

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