It is not uncommon for the housing market to have strong and weak periods. So far, Orlando had a good start to the year in terms of residential property sales. It has been reported that both price and sales volume have increased in this particular area, which is more than what can be said for other parts of Florida.
The midpoint price range for Orlando buyers was approximately $202,000 in January. This is about $3,000 higher than what has been seen elsewhere in the state. Pricing is believed to be up 14 percent on single-family homes, thanks to the job market and high-demand properties. Condo prices have increased nearly 18 percent compared to the previous year. These price gains have certainly been welcome news to sellers.
When it comes to single-family homes, approximately 2,000 were sold in January. This in an increase of just over four percent compared to this time the previous year. It is believed that the number of available houses on the market has decreased to a 4.5 month supply.
For those looking to sell their homes in the Orlando area, it would seem that now is a good time. Buyers seem interested, and sellers can get maximum value. The sale of residential property is a legal matter, though, and one that should not be rushed into to without making sure everything is in order. An experienced real estate attorney can help sellers throughout this process in order to ensure that they get the most out of their properties and that they are clear of any issues related to the properties they wish to sell.
Source: orlandosentinel.com, “Orlando housing market outperforming Florida’s“, Mary Shanklin, Feb. 23, 2016