Categorized | Residential

Orlando Experiences Strong Gain in Housing Prices

Please Share!

Orlando, much like Miami, has clearly separated itself from the abysmal state of the United States real estate market. While most cities are struggling immensely with falling housing prices, the popular family vacation destination has seen its average home prices substantially increase. In the past year, housing prices in Orlando have gone up by more than fifteen percent.

While the state of Florida has had, in general, a terribly woeful real estate market, the more popular vacation cities appear to be bucking such a trend, and standing on their own. Not only have prices increased by fifteen percent in the last year, but they have gotten even stronger more recently, having increased by over twenty percent since the beginning of 2011.

One of the primary reasons for the increase in home values is the reduction of short sales and foreclosures in the area. Traditional sales are increasing, and as such, the average sale price of homes has been able to gain strong increases. Traditional sales account for roughly forty percent of all Orlando home sales.

Despite the increasing housing prices, Orlando is still considered to be one of the most affordable cities in the United States. Most residents earn twice as much as what is needed to secure an average home in the city. Those conditions have also greatly helped increase overall sales.

While other troubled areas have also experienced increases in the past few months, Orlando appears to be one of the few that looks to have a moderately bright future. The trend of increasing prices is expected to continue in the city for at least the rest of the year.

Please Share!

About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

Leave a Reply

Twitter Chat