Orlando, FL housing market

Orlando sellers are learning a hard lesson this month, because nearly one in five listings has already taken a price cut. The typical home here is now worth about three hundred ninety-six thousand dollars, down roughly 2.3 percent from a year ago, and the gap between what sellers want and what buyers will pay is showing up everywhere. The median list price sits around four hundred eleven thousand dollars, well above that typical value, which tells you a lot of homes are priced ahead of the market. With about three thousand seven hundred homes for sale and roughly one thousand three hundred new listings hitting in a single month, buyers have plenty to choose from, and they are taking their time. The median home now spends about 64 days on market before finding a buyer. Put it together and the message is clear. Price it right from day one and it sells. Reach too high and you sit for two months, then cut anyway. That is Orlando right now.