Orlando Housing Market: Price | Trends Forecast for Q1, 2022, by Adriana Montes.

Orlando Housing Market:

Price, Trends and Forecast for Q1, 2022.

By Adriana Montes

Orlando’s property market is booming, and residents and investors from all over the country are flocking to the city. Once again, Orlando has shown to be one of the top cities in Florida to invest in real estate. Orlando is proving to be a safe real estate investment location for both local and foreign investors, thanks to its gorgeous surroundings, steadily rising quality of life, growing population, and flourishing economy. In comparison to other cities with hot real estate markets, Orlando is considered a hot seller’s market by the Zillow Buyer-Seller Index (BSI). Because there is a limited supply of homes in Orlando, purchasers have to compete, which leads to higher prices and faster sales favoring sellers.

According to Orlando Region Realtor Association, the median property price in Orlando is currently $328,854. According to NeighborhoodScout, home values have increased by 118.90 percent over the last ten years, resulting in an average annual home appreciation rate of 8.15 percent, higher than the national average. This places Orlando in the top 10% of all cities in terms of real estate appreciation. The appreciation rate in Orlando over the last twelve months was roughly 9.54 percent. Homes in Orlando sell after 14 days on the market on average, down from 18 days last year. Homes typically sell for approximately list price and go pending in 12 days. Hot houses can sell for 2% above the asking price and go pending in as little as five days.

Over the last year, rents in Orlando have risen by 23%. In addition, the percentage of renters in Orlando has risen to 65.2 percent, indicating a higher demand for rental properties. The reason for this is that, according to Advisor Smith statistics, Orlando has a greater job growth rate. Approximately 60% of the units are available for rent for $1,500 or less per month, 26% between

$1,501-$2,000 per month, and 8% for $2,000 or more per month. According to Zumper Reports, the average rent for a one-bedroom apartment in Orlando is $1,665, up 37% over last year. The average two-bedroom apartment rent is $2,000, up 43% year over year, while a three-bedroom apartment rent is $2,570, up 24% year over year. With rents under $1,200 per month, Spring Pines, Carver Shores, and Rosemont North are among Orlando’s most affordable communities. In contrast, North Orange, and South Eola, are among the most costly neighborhoods to rent, with average monthly prices reaching $3,888. The city was ranked one of the best areas to buy a rental property in 2021, based on important investment characteristics such as cash flow, job market, and a growing population. As a result of these factors, the trend of rising rental costs is anticipated to continue this year.

In the next twelve months, prices will rise due to a lack of supply and increased demand for property from first-time homebuyers. Low mortgage rates will continue to support the housing sector and drive up property prices. This suggests that the housing market in Orlando will continue to be a seller’s market. According to Forbes, Orlando is the second-fastest-growing city in the states, because of its proximity to Walt Disney World and its high population as a metropolitan area and an industrial attraction. With all of these characteristics, Orlando is unquestionably one of the most exciting real estate markets in which to invest. Now is the moment for sellers to list their Orlando homes because prices are at an all-time high. For sellers, now is the best time to place their Orlando property on the market because home prices are rising higher and are more appealing to them at this time. On the contrary, the most common blunder made by buyers is waiting for sale prices to drop while their potential mortgage payment drops. Don’t make this mistake as a buyer!

Seizing this opportunity and taking the biggest step of financial achievement of being a homeowner, is the best decision you can make this year. This is only possible if you contact The Power Is Now Media Inc. an all-time dependable real estate partner. Reach out to Adriana Montes, Our Orlando VIP agent, and get informed of your Orlando real estate market.