Tag Archive | "Orlando"

Orlando Housing Market Experiences Growth in 2011

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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Orlando Housing Market Experiences Strong Increase

The housing market in Orlando, Florida experienced a very strong increase during the month of October. Housing sales in the city increased by eighteen percent over the numbers from last year. The increase is the first many months, and the largest increase over 2010 numbers this year.

The overall increase is being attributed to low interest rates, and the lack of short sales and foreclosures available during the month of October. Housing prices in Orlando also increased during the past month, which is atypical when compared to the national average. While sales have increased in some areas of the United States, prices in those areas have generally declined. However, Orlando, like Miami, has experienced the opposite.

Orlando now joins Miami in bringing overall positive growth to Florida’s residential real estate market. Analysts are hopeful that the positive results will continue in Orlando. For Florida state officials, the growth in the city’s residential real estate market is certainly a good sign as to the possibility that the state may be able to rise out of the struggles experienced nationwide.

Houses in the Orlando residential real estate market generally are bought within one hundred days of listing, and typically sell for their asking price. Those numbers serve as a solid indication that the market is performing fairly well. There is hope that the positive growth will continue, though analysts are quick to emphasize that the growth itself will not become an actual trend until it has occurred for at least a few months in succession.

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Orlando Experiences Strong Gain in Housing Prices

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.

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