Orlando, Florida is among one of the most preferred cities for home buyers and investors to consider for both primary residences as well as vacation homes. The Orlando real estate market has changed significantly in the last decade, but demand has remained at high levels due to the robust local economy, renowned attractions, and central location. Orlando homes for sale start in very affordable price ranges for smaller, older style homes and reach the multi-million dollar price range for luxurious properties. The average price of homes for sale in Orlando, FL is around $150,000 and buyers will find houses available on both the existing Multiple Listing Service and the new construction market. The variety of community types range from standard residential suburban neighborhoods to gated lakefront golf communities with manned security, social clubs, and posh amenities. During the early part of the 2000s, the Orlando, FL housing market experienced a significant boom in both development of homes and investor interest which drove prices of homes for sale in Orlando to unprecedented heights. Following this period of rapid appreciation was a flood of foreclosures, bank homes, and other distressed home sales as a result of sub-prime loans and increased inventory. The Orlando real estate market inventory numbers of properties listed on the MLS reach a point where we had over 15 months of homes available at the pace of home sales during that time. This situation was perpetuated when home prices fell as a result of an over saturation of supply and decrease demand once buyers realized that home values were on the decline.
Today prices of homes for sale in Orlando have stabilized and begun to see a rise, due to lack of inventory and increased demand from low prices combined with historically low interest rates. The banks have controlled the release of Orlando real estate onto the MLS, by allowing homeowners who are in foreclosure to rent their homes back at discounted rates for a period of time. This keeps inventory levels to a minimum and one of the most difficult aspects of purchasing a home today is competing with the multiple offers that most well-priced houses attract in todays housing market. The most active segment of Orlando, FL homes for sale is in the lower price range of properties listed under $200,000 and this real estate market has been one of the fast recovering markets in the country.
