Central Florida home sales are slowing down.
Specifically, the number of single-family houses sold in Orange and Seminole counties declined 11% to 5,811 in first-quarter 2019, when compared with 6,534 homes sold in first-quarter 2018, according to the Orlando Regional Realtor Association.
“Orlando’s Q1 sales dip can be attributed in large part to buyer exhaustion after years of meager inventory plus dramatically rising prices over the past several years” says Orlando Regional Realtor Association President Jeffrey M. Fagan. “We are expecting moderated sales to be supported for the rest of the year by factors such as stabilizing prices, mortgage rates that are holding steady and even dropping a bit, and Orlando’s strong job growth.”
We broke down collected data from the Orlando Regional Realtor Association to find the number of homes sold for first-quarter 2019 across every ZIP code in Orange and Seminole counties. There were a total of 59 Orlando-area ZIP codes that recorded at least one home sale in the quarter. Of the 59 Orlando-area ZIP codes, 28 had more than 100 completed transactions.
Here’s more highlights from the data:
- The number of home sales in our No. 1 ZIP 34787 was slashed by 40% when compared to Q1 2018, declining from 405 units sold to 242 in Q1 2019. Surprisingly, the ZIP still holds the No. 1 spot on our list.
- Our top five ZIP codes account for 17.8% of unit sales in the quarter.