A Look at the Housing Market in Orlando Florida

My House in Longwood, FL
Creative Commons License photo credit: ASurroca

Many people think of Orlando as simply a place for fun in the sun and entertainment. Many call Orlando the land of Mickey Mouse. There is also the ever popular Sea World and Universal Studios to visit in Orlando. However this 100 square mile of city in Orange County Florida, has much more to offer than fun and game. Orlando has a very low unemployment rate due to the fact that it has major center that specialize in digital media as well as bio medicine. The airport in Orlando is one of the busiest in the nation as well. The influx of visitors for touring and visiting alike have always kept the real estate market in Orlando rather stable. Has this place of interest remained via in the real estate arena to date?

According to realtors and studies of the market in Orlando the median home price has actually increased for five consecutive months. This is extremely unusual even in markets where there’s positive change being seen. The median home price is also relatively low for this Florida destination as well; being around $160k. Even though inventory was down as of May of the second quarter, it is still a buyers market in Orlando. Many market watches feel that rehabbed homes are your best bet in Orlando right now. You’ll get a great price for a home that doesn’t require much work. This is opposed to buying one of the many foreclosures on the market in Orlando, which may require a lot of work. It is also important where you buy in Orlando when it comes to a good value. In some areas there are plenty of homes listed for over half a million dollars. Homes are still staying on the market for a very long time. When an Orlando home is sold, there doesn’t seem to be another to replace the sale. This could indicate a positive turn for sellers. With homes actually appreciating month by month, now is a great time to buy in Orlando. However, make sure you have a good realtor who can help you get the home of your dreams.