When you think of Orlando, Florida, first, the theme parks pop into your head, such as Universal Studios and Disney World. Did you know that 60 million visitors visit Orlando’s most fantastic tourist attractions yearly? You’d think tourists come and go. But how come that so many of them decide to move to Orlando permanently?
Based on recent housing statistics, the real estate market in Orlando, Florida, is highly competitive. Let’s go back three years to form a general idea of the immense leap the housing market experienced in the area.
In October 2018, houses sold for an average of $231,500. As of October 2021, the city’s median sale price was $325,000. Market specialists pointed out an 18.2 percent growth compared to last year’s statistics.
Furthermore, real estate in Orlando is pricier by three percent than the Florida average. Considering all these factors, selling a house in Orlando, FL, isn’t a piece of cake, especially without a local realtor’s expertise.
Why don’t you test the booming local economy and affordable housing opportunities yourself? Contact local real estate agents in Orlando, Florida today!
If you wish to sell your home in Orlando, now it’s the time! On average, Orlando properties sell after 13 days on the market compared to 21 days in 2020.Additionally, house owners sold more real estate than one year before. It’s a pretty telling number, proving Orlando has become a hot market with more potential buyers than sellers.
Though the price of real estate has escalated in Orlando recently, there is a ray of financial hope for buyers too. The average property in the Fun Capital sells for about one percent lower than the list price. Suppose you prefer a luxury home or “a hot home” in the region. Then, you can purchase one for approximately two percent above the list price. On average, 12.2 percent of homes sold with price drops.
If you wish to rent in Orlando, you’ll have to pay around $1,450 for a one-bedroom downtown. Apartments outside of the center cost about $300 less. In this perspective, rental prices in Orlando are the same as the Florida rentals on average. Under such circumstances, the vacation rental market in Orlando is in high demand and quite profitable business.
Travelers often refer to Orlando, FL, as the fun capital of the world, not without reason. The city revels in must-see attractions. However, besides the children-friendly venues, the place has spectacularly taken care of grown-ups’ needs for recreation too. Adventurous food tours and interactive escape rooms are among the many things for adults to do in Orlando. No wonder that many tourists found a genuine motivation to remain here. Approximately1,100 new residents find a home here weekly.