Orlando is a large area so in Orlando there are cheap houses. However, the Orlando Florida housing market also holds some of the most expensive home prices in the state. The Orlando Metro area takes up most of Orange County Florida.
Orlando Housing Market Trends & Orlando Real Estate Market
Right now the number of homes coming onto the market is increasing. The median home prices are decreasing and interest rates are back to historical norms and may actually be going higher. The affordable housing market that was previously forgotten in Orlando may well be making a comeback. At least as far as purchasing prices. Those real estate investors who have money to put down on a home for a downpayment will be in a prime spot to take advantage of lower housing prices.
Central Florida Markets Average Home Prices
Usually Orlando home prices are similar to the national average, as a whole. This is because downtown, Lake Nona, Dr Phillips and other higher end places do not reflect the home prices over the entire city and this is not a balanced market. Currently the median home price does not for tell economic growth like a typical seller's market. Orlando's economy is likely to experience a buyer's market at least in parts of the city beautiful.
Short Sales-Lower Costs-Home Sales
Currently there are very few foreclosures. Florida has judicial foreclosure which takes longer for most to notice any increases. They are reflected in the court filings which are on the increase. What we will see first is the number of short sales increase. You may even see one in desirable areas and the more there are high prices will become generally lower. Several factors affect banks prices. Low supply of foreclosed homes and short sale applications cause banks to want market value. The more homes in foreclosure the lower prices the banks want.
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Stellar MLS (updated 1/22/25 6:26 PM) |