It’s no secret that Orlando is a great place to live. With its year-round sunshine and world-famous theme parks, it’s no wonder why people from all over the world flock to our city. But if you’re thinking of making Orlando your home, it’s important to know what the housing market looks like.
In this blog post, we’ll discuss everything you need to know about the Orlando housing market in 2022. We’ll talk about home prices, neighborhood areas, and how long it takes to sell a house.
So whether you’re looking for a starter home or an investment property, read on for all the information you need! So let’s get started!
Average Home Price in Orlando
It’s no secret that Orlando is a popular destination for people looking to live in the sunshine and enjoy all of Florida has to offer.
It’s also not a big surprise that the housing market here can be tough to navigate, with some neighborhoods experiencing rapid population growth while others remain stagnant. So what does this mean for prospective homeowners? Increased Orlando home prices?
The good news for homeowners is that the average home value in Orlando has been on the rise over the past year, reaching $338,000, which is a 24% increase since last year according to Zillow. With home values on the rise, it has made selling a home more profitable.
However, if you’re looking to buy a home in Orlando, be prepared to compete with other buyers. The average list price for a home in the Orlando area is currently $340,000 which is $210 a square foot, and the average sales price is $330,000. However, you can find homes for sale in all different neighborhoods and price ranges- but remember that the more you spend, the longer it will take to build equity in your home.
If you’re looking to buy a home in Orange County, it’s important to keep in mind that inventory is tight and competition is high. The best neighborhoods to look in are those that are close to major employment centers, have good schools, and offer a variety of lifestyle amenities.
If you’re looking to sell your home, it’s important to price it correctly from the start. You’ll also want to make sure that it is in good condition and staged well for potential buyers. Marketing your home online and through social media can be a great way to reach a wider audience.
High and Low Home Prices in Orlando
The most expensive neighborhoods are typically located near downtown or in areas that have experienced recent development or gentrification. The least expensive areas generally are older neighborhoods that have not seen as much investment in recent years.
If you’re looking for affordability, your best bet is to look in older neighborhoods that may require some updating or foreclosures. However, be aware that these homes will likely require more work and may not appreciate as quickly as homes in more developed areas or new construction.
Whatever your budget, there are plenty of great options available in the Orlando housing market. With a bit of research, you’re sure to find the perfect home for you and your family.
Currently, the most expensive house on the market costs $25 million, and the lowest home price in Orlando costs $6.4k. The median home price is $340,000.
Best Areas to Live in Orlando
Orlando, located in central Florida is home to many different neighborhoods. Some of the best areas to live in Orlando are those with great schools, plenty of jobs and businesses, and a variety of entertainment and recreational options.
Here are five such neighborhoods that stand out from the rest.
- Baldwin Park is located near downtown Orlando. This neighborhood is perfect for young professionals and families as it has excellent schools, plenty of job opportunities, and a variety of shops and restaurants.
- Celebration, which is located in Osceola County and near Walt Disney World. This community was designed by The Walt Disney Company and is perfect for those who love the outdoors. It has beautiful parks and trails and a variety of entertainment and dining options.
- Winter Park, located north of Orlando. This neighborhood has a charming downtown area with plenty of shopping and dining options, plus it is close to the University of Central Florida and other major employers.
- Lake Nona is a master-planned community located in southeast Orlando. This area has many different neighborhoods to choose from, each with its own unique features. Some of the highlights include great schools, plenty of jobs and businesses, and an abundance of recreational options.
- Dr. Phillips is a neighborhood located southwest of downtown Orlando. It is perfect for those who want to be close to all the action, as it is close to many restaurants and businesses. It also has excellent schools and a variety of recreational options.
No matter what your needs are, there is sure to be an excellent neighborhood for you in Orlando. With so many great options to choose from, you’ll be able to find the perfect place to call home.
If you want to learn more about the Orlando housing market or any of these neighborhoods, be sure to contact a local real estate professional. They will be happy to answer any of your questions and help you find the perfect home in Orlando.
Sale-to-list Price Ratio in Orlando
Homes in Orlando, FL, sold for right at asking price on average so far in 2022, which makes the sale-to-list price ratio 100%.
When the sale-to-list price ratio is 100% or above, this would indicate the real estate market is experiencing a seller’s market. This means that more people are looking to buy than there are homes available to purchase and homes are being sold for the asking price or above.
If you’re thinking about buying a new home in Orlando, FL this year it’s important to be aware that you may have to compete with other buyers because of the low inventory of homes on the market. Not to mention time is of the essence with lower interest rates/mortgage rates.
But the good news is there are still deals to be had even in a seller’s market with high demand. So whether you’re first-time homebuyers or this is your 15th home purchase, the Orlando real estate market has some great single-family, townhomes, and condos for sale.
If you work with an experienced real estate professional, they will be able to help you navigate the market and find a great deal on a home in Orlando.
If you have any questions about the Orlando housing market or the sale-to-list price ratio, contact a local real estate professional. They would be happy to answer any of your questions and help you find the perfect home in Orlando.
Average Days on Orlando Housing Market
Another way to determine how well a real estate market is doing is by measuring the average days on market (DOM). This is defined as the number of days between when a property is listed and when it goes under contract.
In a healthy real estate market, properties are typically going under contract within 30 to 60 days.
The average time it takes to sell a home in the Orlando market is currently taking 44 days. This does not include the typical 35-day closing period, so selling a house in Orlando could take 79 days or more. This number has been trending upwards over the past few years as the housing market has become more competitive.
If you need to sell your home quickly, it’s wise to price it correctly and make sure that it is in good condition. However, the process can take 79-days or more to sell a house even with the current market trends. So if you need to sell your Orlando home fast, you may want to sell your home for cash to one of the companies that buy houses in Orlando instead.
In summary, the Orlando housing market is currently healthy and expected to continue growing in the coming years. If you’re planning on buying or selling a home, it’s important to be prepared for competition and to understand what trends are affecting the market. With a bit of research and preparation, you can find success.
However, if you’re looking for a speedy home sale, working with a “Buy my house Orlando” homebuyer may be a better solution. Problem Property Pals is a “We buy houses Florida” company that can make you a cash offer for your home within 24-hours and close in as little as 7-days. They also don’t charge realtor commissions and will buy your house in as-is condition. Besides buying houses in the Orlando area they also are cash home buyers in Tampa too.
They’re a great company to work with if you need to sell your house quickly and would prefer to avoid the stress and uncertainty of a traditional home sale. Contact them today to get a cash offer for your home!