There’s good news for real estate buyers and sellers in Central Florida. And, some experts are indicating the upward trend in the area has no sign of slowing. Though it has been an upward struggle since 2008, the numbers are more than just a bit promising.
Buyers can enjoy an investment with a much more promising equity growth, and sellers can edge up on what used to be a sluggish profit.
Couple that with some very enticing mortgage options and it is easy to see why a bit of celebrating is in order.
The Orlando Regional Realtor Association has reported some very optimistic figures for 2017:
Year over year number of sales from 2015-2016 showed a slight increase of 1.9%
Year over year number of sales from 2016-2017 showed twice the increase at 3.8%
Sales Volume (dollars) increased in 11 of 12 months throughout 2017, with a whopping 19.82% increase in November alone in Orlando.
Orlando’s median home price increased by 10% over 2016’s prices to $220,000, more than twice the figure reported just five years ago, in June 2010.
And, it is not just the Orlando-Orange County area enjoying some great gains. Lake County, Osceola County, and Seminole County posted some impressive numbers for 2017 as well. In fact, when combining the four counties together, the percentages are holding even higher.
Given the explosive growth in some of the areas, it shouldn’t be too surprising, but nonetheless very optimistic for future buyers and sellers.
-Orange, Seminole, Lake, Osceola combined median home price soared to $277,600, up from $235,000 in 2016. And, total units sold saw gains nearly every month of 2017, and in every price category.
The impressive gains in the Central Florida market have experts placing the area at the top of the list for 2018, too, edging out Palm Beach, Tampa, and Ft. Lauderdale. The Orlando Sentinel reports these areas were also hard hit with foreclosure, but the Central Florida area continues to rebound at a stellar pace.
And, the room for growth remains positive, with the prices still attractive and the number of buyers increasing each month.
Investors are surely taking note, and those who have waited for the right time are finding it may very well be now.
When factoring in Central Florida’s unemployment figures, home prices, and liveability factors, the area is ranked as the 4th hottest real estate market overall in the country by the experts.
Indeed, there’s more to the story than just an investment and prices. The Central Florida area is robust with a plethora of choices from vacation homes, townhomes, villas, and luxurious waterfront and golf view estates. And, of course, the happiest place on earth.
At Towns Realty, we are proud to serve every area of this truly beautiful section of Florida. If you are interested in seeing what’s selling now, check out our community section and listings here.