If you’ve been thinking about buying a home in Orlando to use as a second home or investment property, you may want to take action soon before home prices get too expensive.
The median price of Orlando homes sold during the month of July rose nearly 7 percent compared to the same period a year ago. And sales slipped 0.2 percent compared to July 2016.
One reason for the uptick in prices is the fact that there are fewer homes for sale. The Orlando Regional Realtor Association reported that inventory was down 15 percent in July compared to year ago levels.
Orlando’s overall median home price (which combines all home types) was $220,000 in July, up 6.8 percent from July 2016’s median price of $206,000.
Single family home sales fell 0.9 percent in July, while condo sales increased 6.1 percent.
Demand is still strong for homes in the Disney area. The ORRA reported that sales in Osceola County, which includes Kissimmee, rose 0.7 percent in July, compared to July 2016.
Here is an infographic that illustrates the state of Orlando’s housing market:
Ready to start your new home search? Contact Team Donovan today at 407-705-2616. We can help you find your primary residence, a vacation home, or investment property in a style and budget that suits you best.
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