Categorized | Residential

Orlando Housing Market Experiences Growth in 2011

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Housing prices in Orlando, Florida finished the year strong, helping the city to post a gain from last year with respect to the average sale price. The average home price jumped twelve percent in December, raising the average yearly price to roughly one hundred and ten thousand dollars. The average home price from 2010 was one hundred eight thousand and five hundred dollars.

The average price for a home in Orlando in 2011 experienced a massive gain from January to December. Prices had fallen as low as ninety-four thousand dollars in January. Thus, within the span of a year, housing prices have jumped almost twenty-five thousand dollars in the city.

While the final numbers from 2011 are similar to those of 2010, there are some unique differences. The average home price faltered towards the end of 2010, indicating a downward trend in the market. On the other hand, the average home price experienced incredibly growth from the start of the year to the end in 2011. Real estate analysts hope that the momentum gained in 2011 will carry over to 2012 so as to provide for further growth.

Interest rates hit an all time low in Orlando in 2011, which certainly may have contributed to the gaining momentum. The average interest rate paid in December was just 3.99 percent. Housing inventory has fallen in Orlando when compared to November, as well as the previous year. Affordability in the city also experienced a decrease, though that should not come as a surprise with the increase in the average home price.

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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