Home prices are finally sliding down in Orlando, Florida, as the so-called Theme Park Capital of the World starts undergoing the same correction that other pandemic boomtowns in the Sunshine State have been facing for some time.
The median sale price of a home in Orlando was $403,500 in June, down 0.4 percent from a year earlier, according to Redfin.
While this annual decline is modest compared to those reported by Florida cities like Tampa (-12.7 percent) or Fort Myers (-9.6 percent), it shows that even a stubborn market like that of Orlando is not invulnerable to the dynamics unfolding in the state—and the entire country.
How Orlando’s Housing Market Held On for So Long
With its thriving job market, sunny weather, and attractive lifestyle, Orlando attracts thousands of newcomers every year. In the 12 months leading to July 1, 2024, the city added 76,000 new residents, reaching a total population of nearly 3 million people…