The real estate market in Orlando is ever-changing, and keeping up with the trends can be essential for both buyers and sellers. Whether you're looking to buy a new home or sell your current one, it's important to have an understanding of the current market conditions. Here's a look at some of the latest real estate trends in Orlando.
Median Home Price in Orlando
The median home price in Orlando has been on the rise in recent years. The most recent data from the Orlando Regional Realtor Association said the median home price was just under $381,000. This trend is being driven by a combination of factors, including low mortgage rates (currently on the rise), population growth, and limited inventory.
Orlando's growth drives the real estate market
As we mentioned before, population growth is one of the key drivers of the Orlando real estate market. The Greater Orlando area is expected to add more than 1 million new residents by 2040, which is a huge increase from the current population of just over 2 million. This population growth will continue to put pressure on the housing market and drive prices upward. If you're thinking of selling your home in Orlando, now may be a good time to take advantage of this trend.
Orlando's Real Estate Market
The real estate market in Orlando is always changing, so it's important to stay up-to-date on the latest trends if you're planning on buying or selling a home. Currently, the median home price in Orlando is on the rise due to factors like low mortgage rates and population growth. If you're thinking of selling your home, now may be a good time to take advantage of these trends. However, if you're buying a home, you may want to consider waiting for prices to level off or even decline slightly before making your purchase. Either way, it's important to consult with a real estate professional to get expert advice tailored to your specific situation.
Need a title company? American Title Trust has offices in Orlando, Miami, Tampa, Lake Nona, Weston and more. We can also do in-person and virtual closings anywhere in Florida.