Orlando Housing Market…Up, up, up!

Orlando Housing Market…Up, up, up!

Orlando Housing Market…Up, up, up!

The newest numbers are out, and things continue to look up, up, up for our Orlando housing market.  The link to this month’s report from our Orlando Regional Realtor Association (ORRA) may be found by following this link:

http://www.orlandorealtors.org/news/142168/Orlando-median-home-price-increases-25-percent.htm

Median home price is up 25%- to the current $155,475 from last year’s $124,900

Aside from the headlining median price increase, a few things stick out to me from a property management perspective:

– Total inventory is UP!  Despite prevailing ideas that we have an inventory problem, inventory rose for the 6th consecutive month.  The 9,127 units reflected right now is the highest we’ve seen in a year.

– Single Family Home inventory is UP 12.6% year-to-year, and condo inventory is UP nearly 10%

– Since September of last year:

Normal sales UP 40%

Short sales DOWN 35%

Foreclosures DOWN 70%

So what does this all mean?  Well, it means a few things to me- namely that time’s running out for folks who have been sitting on the fence and waffling over whether to purchase an investment property.  The time to buy is now.  There’s decent inventory to choose from at the moment and interest rates remain low….but prices are going up!  The pool of foreclosure/short sale properties has all but dried up, and those who wait much longer will be left without a chair when the music stops.

In dealing with investment properties, the old saying holds true that you make your money when you buy, and those who continue to roam the sidelines of Orlando’s investment property-land will soon find that their wait’s only going to be rewarded with a lower Return On Investment (ROI) than that which others who have already purchased their investment properties will enjoy.

So don’t delay- get out there and find that investment property today!  And get in touch with a your friendly neighborhood professional property manager to discuss how they might be able to help you turn that vacant property into an occupied one- and that house into a home.

Hmmm…that has a nice ring to it.

Orlando Housing Market…Up, up, up!

Advertisements

About Dennis Burgess

Dennis B. Burgess Property Manager Licensed Florida Realtor Dennis B. Burgess Licensed Florida Realtor/Property Manager 2016 ORRA Governmental Affairs Committee Chairman 2016 ORRA Property Management Council Chairman The Real Estate Firm of Orlando 7600 Dr. Phillips Blvd., Ste #146 Orlando, FL 32819 Cell: 205-445-4755 Office: 407-581-5550 Fax: 407-581-5551 dburgess@reforlando.com www.reforlando.com Twitter: @orlrentals Turning vacant into occupied, and "houses" into "homes"
Gallery | This entry was posted in For Rent, Properties, home, homes, Orlando Market Report (Market Pulse), Orlando Regional Realtor Association (ORRA), Orlando Sales Rental Market, Orlando/Central Florida-area news, Property Management, Real estate, Uncategorized and tagged , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s