Redefining the "Luxury" in Luxury Orlando Homes

There has been a shift in the sale of Orlando homes. More and more residents are buying houses that cost upwards of $500,000; Orlando homes that have up to now been called "luxury homes." However, buyers may be seeing a change in the definition of "luxury."

The $1 million Orlando homes of five years ago are now up to $2.5 million, while the $500,000 Orlando homes of five years ago are up to $1 million. "No longer do granite countertops, gourmet kitchens and a $500,000 price tag make a luxury home."

Plus, the profile of the "luxury" buyer is changing as well. "Some buyers are looking for homes with a lot of bedrooms to accomodate multi-generational families," while others "are finding luxury with a home on a lake." (The prices of Orlando homes along the Winter Park Chain of Lakes has increasedby 52 percent over the last year due to high demand.) Other buyers are looking for conveniently located downtown Orlando homes so that "they don´t have to leave their communities to go to work, buy groceries or have a bite to eat."