Orlando Housing Prices Surging Ahead

Real estate agents say the Orlando housing buying frenzy and rapid price appreciation are driven by three common factors: low mortgage rates, creative loans and “Extreme competition for housing fueled by a strong employment picture and a surge in population.”

According to the National Association of Realtors, all of these factors have combined to give Orlando housing a big bump in pricing, which has increased by 36.5 percent since last year. The median price of Orlando housing currently stands at $232,200, “shifting the balance of the entire market, which is selling more homes in higher price brackets than ever before.”

Orlando housing selling between $300,000 and $400,000 has the greatest market share with 18.6 percent. Seven percent of the area market has now been reserved for homes selling for over $500,000, but it is the homes selling above $300,000 that have made the biggest splash in the local market, as their numbers have risen from 2,696 to 5,254, a 95 percent increase in just one year.