If you’ve got a feeling that Metro Orlando keeps getting more crowded, you’re right — and that’s pushing home prices higher. Orlando is exploding as a region because of assets including creative and technologically advanced economy, forward-thinking transportation initiatives, combined with an exceptional quality of life.
Orlando’s median home price jumped more than 10 percent in April when compared to April of last year while sales likewise saw an increase of more than 8 percent, reports the Orlando Regional REALTOR® Association. Inventory declined by nearly 11 percent compared to this time last year.
The latest numbers showed the strength of tourism in 2017 — a year where Hurricane Irma shut down the theme parks temporarily and disrupted lives in much of the state and cements Orlando, as the World's favorite destination when it comes to tourism.
In a recent meeting, the Greater Orlando Aviation Authority (GOAA) Board voted to position Orlando International Airport (MCO) as the first U.S. airport to fully deploy the U.S. Customs & Border Protection (CBP) Biometric Entry and Exit Program. The system will be implemented at the 30 MCO gates having international departures and at CBP checkpoints located in the airport’s two Federal Inspection Stations.
The statewide median sales price for single-family existing homes last month was $250,800, up 8.2 percent from the previous year, while the statewide median price for townhouse-condo properties was $183,000, up 7 percent over the year-ago figure.
Florida's economy continues to grow, with more jobs being created – the state's unemployment rate was 3.9% in January. Statewide sales increased in both the existing single-family homes and the townhouse-condo sectors in February, yet many local markets are still facing a tight supply of available homes at a time when buyer demand is rising. Those factors are putting pressure on home prices and affordability.
The Orlando-Kissimmee-Sanford metropolitan area added 56,000 people in 2017. In terms of sheer numbers gained, Metro Orlando ranked No. 8 in the nation, the same as the prior year. The area includes Orange, Seminole, Osceola and Lake counties, and has been the 23rd largest metro.
Commissioners are scheduled to vote Monday on a Development Agreement with LifeSports USA to build and operate a 60-acre sports complex at the southwest quadrant of W192 and the S.R. 429 interchange. The complex would anchor a 23-acre town center on W192 with up to 81,000 square feet of commercial space, including a 128-room hotel, and a 300-unit apartment complex.
The Boathouse features waterfront dining with a seafood-centric menu. Morimoto Asia is a concept by Iron Chef Masaharu Morimoto that offers a Pan-Asian menu. STK Orlando is a two-story steakhouse with an in-house DJ and an outdoor patio.
According to a WalletHub study, Orlando beat out Las Vegas to earn the 2018 top spot. The study looked at factors such as the average cost of a wedding; the number of wedding chapels, churches, and bridal shops; and, of course, activities and attractions.