STORY HIGHLIGHTS
The Orlando housing market has experienced a slight cooling, with home values slightly decreasing and inventory rising, reflecting broader national patterns, according to the
latest Zillow report. While some metro Orlando areas like Lake Nona Estates see home value growth, others like Meadow Woods have experienced decline, mirroring shifts in other Florida markets — except for Miami, which remains resilient. The typical home value in Orlando is $378,740, a 0.1% decrease over the past year, according to the report. This decline aligns with the
national housing landscape , with a typical U.S. home value of $357,377. Earlier this year, Orlando's housing market ranking fell 14 places to No. 23 in
Zillow's annual market ranking . This was attributed to a 30% increase in for-sale inventory. Specific areas within Orlando have experienced varying trends. For instance,
Lake Nona Estates reported a 2.9% increase in home values over the past year, with typical home values at $2.4 million. In contrast, the
Meadow Woods area saw a 0.2% decrease, with typical home values at $414,335. The cooling trend in Orlando mirrors shifts in other Florida markets. Tampa fell 19 spots to No. 29, suggesting a larger-than-expected dip in demand relative to supply, and Jacksonville dropped nine places to No. 40. Meanwhile, Miami's housing market has remained resilient, rising to 15th in Zillow's rankings, reflecting its continued attractiveness to buyers. Nationally, home prices continued to rise at the end of 2024, with a 3.9% annual increase in December, up from 3.7% in November, according to the S&P CoreLogic Case-Shiller
index . However, forecasts for 2025 predict a slowdown in home-price growth due to higher inventory levels and shifting market dynamics. Tampa Bay housing experienced the nation's second-largest drop in value year over year, by 3.6%, joining Austin (-3.8%), San Antonio (-2%), New Orleans (-1.7%), and Phoenix (-1.6%).
Orlando home values fell by 1.4% year over year. The report notes this is an ideal time for homebuying with
mortgage rates falling to price points not seen since December. "With more homes for sale, competition among buyers is slower, too. Listings are spending about 23 days on the market before a sale is pending. That’s six more days than last year and just four fewer than at this time pre-pandemic — closer to “normal” than at any time since 2020," a report summary reads.
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