Orlando News
Year-over-year increases in median price have been recorded for the past 80 consecutive months; as of February 2018, the overall median price is 97.4 percent higher than it was back in July 2011. The median price for single-family homes that changed hands in February increased 11.3 percent over February 2017 and is now $249,250. The median price for condos increased 22.2 percent to $120,950.
Florida is growing faster in terms of employment growth than the rest of the U.S., which is good for Florida real estate. The three major drivers of the state’s economy are 1) Florida’s business climate, including real estate sales; 2) the U.S. economy and financial market trends; and 3) the global economy.
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.
The New Jersey-based homebuilder paid $4.9 million for Phase 2 of Magnolia at Westside, a 246-home subdivision in Four Corners near the intersection of Westside Boulevard and Florence Villa Grove Road.
What attracted us to the project was to be able to deliver relatively affordable single-family homes in a market that's close to the attractions and is in an exemplary school district, with the neighborhood being zoned for the Westside K-8 school and Celebration High School.
Following through with a strategic phaseout of its vacation home business, Park Square Homes is looking to split off the undeveloped phases in its Veranda Palms resort in Osceola County, and launch them as a primary residential neighborhood.
The approved site plan divided Veranda Palms into two phases, with entitlements for 323 single family homes and a third phase with 74 vacation rental townhomes.
