Monthly Market Conditons - Orlando, Florida

Orlando has 11808 homes for sale, 607 homes sold during the past 30 days, which projects out to 19 months of unsold inventory. The highest sale price was $2.9M, the low price was $29,000 and the average sales price is $316,540 ($167.00 per sq. ft.). On the average, sold homes spend 131 days on the market. Sales compared to last year are down by 51%, but the average price per sold home for June is up by 10% in Orlando. Last year, it took 84 days to sell a home compared to 131 days this year.

Orlando is a thriving major city located in Orange County, Florida. The city is in the top 20 media markets in the country and is home to plenty of tourist attractions. Of these, most notable are Disney, Epcot, SeaWorld, and Universal, just to name a few. It is also centrally located. Just a 45-minute drive is all it takes to reach the east coast of Florida, including its beautiful beaches and most notably, Cape Canaveral. Home of NASA’s Kennedy Space Center, residents and visitors alike can experience tours and frequent Space Shuttle launches. Around 60 minutes in the opposite direction and you’ll find yourself on the west coast, with its equally beautiful beaches and the city of Tampa.

The Orlando metro is huge in terms of a population area. Its downtown district is also going through a facelift, seeing new sky-rises and developments go up frequently. There is also a future redevelopment plan in the works that includes a new sports arena, a performing arts center, and renovations to the Citrus Bowl. Sports fans can enjoy professional NBA basketball as Orlando is home to the Orlando Magic. Orlando is also home to arena football, soccer, and occasional nationally recognized bowl games.

Orlando is also serviced by the largest International airport in Florida, and is sprawling with businesses and developments. However, the current housing market is taking a painful hit. As a result, there is a strong buyer market in place. Those who used to balk at previous jumps in home prices are now seeing a downturn back to more affordable levels. There is no short term improvement forecast for market conditions. A huge supply of inventory needs to be sold before an improvement of market conditions can be expected.

ZIP Codes: 32801, 32802, 32803, 32804, 32805, 32806, 32807, 32808, 32809, 32810, 32811, 32812, 32814, 32815, 32816, 32817, 32818, 32819, 32820, 32821, 32822, 32824, 32825, 32826, 32827, 32828, 32829, 32830, 32831, 32832, 32833, 32834, 32835, 32836, 32837, 32839, 32853, 32854, 32855, 32856, 32857, 32858, 32859, 32960, 32861, 32862, 32867, 32868, 32869, 32872, 32877, 32878, 32886, 32887, 32890, 32891, 32893, 32896, 32897, 32898, 32899

Approximate Location Boundaries: North of Central Florida Greenway and South of Winter Park. East of the Florida Turnpike and West of Central Florida Greenway.

Location Characteristics: Today, Orlando incorporates outlying neighboring towns such as Winter Park (developed as a winter home in the 1860’s for wealthy northerners), Kissimmee, Altamonte and Winter Gardens.

Walt Disney wasn’t the first person to build a tourist attraction. Dick Pope, Sr. is credited with that with the opening of his 1936 Cypress Gardens. (reopened in 2003 as the Cypress Gardens Adventure Park).

Disney’s Magic Kingdom Park opened in 1971, followed by Sea World in 1973, and then Universal Studios in 1990.

Central Florida continues to grow, attracting families to enjoy its warm climate, attractions, shopping and dining venues and hotels. It’s also become a center for business conventions and meetings that allow attendees to bring their families, combining business and pleasure. Disney also features cruises from Port Canaveral in conjunction with its land-based attractions.

I am pleased to bring you the Market Condition Report. I have practiced the services of Real Estate for the past 17 years, and because my team serves all of Greater Orlando, I am familiar with most areas in the greater metropolitan area. Please feel free to contact me Toll Free . We will be able to provide you with more detailed relocation and subdivision information and home listings.

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