Despite the impact of Hurricane Irma, the median price of Orlando homes sold during the month of September continued its upward trend. The overall median home price (all home types combined) is $225,000, which is 9.8 percent above the September 2016 median price of $205,000. The median price remains unchanged from last month.
For the second year in a row, Orlando ranks No. 1 in Wallethub’s best cities for recreation list. San Diego, Las Vegas, Tampa and Atlanta followed behind, respectively, to complete the top 5. Based on the premise that staying active is good for your health AND your wallet, Wallethub compared 100 of the largest U.S. cities to determine the cities that best enable recreational activities.
Florida's housing market gained momentum in July. More owners decided to put their homes up for sale. However, even with the increase in new listings, inventory remains tight and buyer demand is great. New listings for single-family existing homes rose 6.1 percent year-over-year, while new listings for existing condo-townhouse properties rose 5.5 percent. Homes continue to sell quickly, resulting in increased pending sales – up 3.3 percent for single-family homes and up 3.6 percent for condo-townhouse units.
The Orlando Agency have recently set up a headquarters for Canadian's looking to purchase real estate in Orlando, fast becoming to go-to destination for many Canadians contemplating investment into the Florida real estate market. "We've seen a large number of Canadians purchasing in Orlando as opposed to the traditional areas of the South-East and South-West of Florida, mainly due to the variance of real estate options, combined with income potential that's available in the World's #1 Vacation Destination", says Senior Global Real Estate Advisor, Garry Walmsley of Global Real Estate Services.
With a bounty of performance arts centers, theatres and festivals, a rising foodie scene, a plethora of public parks as well as world-class teams and athletes, Orlando’s latest ranking comes as no surprise to its many residents. In fact, in the heart of downtown Orlando resides one of the most iconic parks in the state: Lake Eola Park.
Orlando, is a warm city with a lot to offer. From dining in themed restaurants to exploring nature in all its glory, the Orlando area has something for everyone, retirees included. Central Florida has numerous retirement communities, and of course, theme parks galore to keep the family begging for a visit.
Governor Rick Scott announced that Florida set another record by welcoming the highest number of visitors of any six months in the state’s history with 60.7 million visitors, according to VISIT FLORIDA. This represents a 4.1 percent increase over the same period in 2016, and includes 53.2 million domestic visitors, 5.3 million overseas visitors and 2.2 million Canadian visitors.
The median price of Orlando homes sold during the month of July increased almost 7 percent while sales decreased 0.2 percent compared to July 2016, reports the Orlando Regional REALTOR® Association. Inventory continued its year-over-year slide.
Orlando’s overall median home price (all home types combined) is $220,000, which is 6.8 percent above the July 2016 median price of $206,000. Year-over-year increases in median price have been recorded for the past 72 consecutive months; as of July 2017, the overall median price has more than doubled since July 2010.
Florida's economy and jobs outlook continued to grow in the second quarter of this year. Florida had the third-fastest annual private-sector job growth rate in the nation. Meanwhile, the state's unemployment rate was 4.1 percent in June, demonstrating that Florida is more than a destination state, these positive economic factors drive Florida's housing market forward.